Proposal to use the DAOs assets in JPEG’d DAO yield farming

The list of DAO funds kindly prepared by DirtbagLu is the following: Liquid ETH: 18.63e NFTx: 51 xBGAN (6.4e), 17.01 xBGANWETH (12.6e) $BASTARD LP: 4.2e 1.5k gFloor: 11.6e BGANs NFTs (priceless) Misc. other NFTs: 13.6e. Total (in ETH, Bganpunks nfts excluded): 67.7e

The aim of this proposal is both a short and a long-term aim: On the short term, it makes sense to actively use the DAO funds in investments that will generate liquidity for the DAO especially that the age of royalties is over. To this end, its beneficial to buy NFTs that are loan supported by JPEG’d where we can start borrowing against to yield pETH. Asphyxhodl explained that this will auto-compound the ETH in the pool and will earn the DAO JPEG’d rewards. So, all in all this investment is not only self-repaying, but also generating JPEG’d and appreciating in price overtime. Yield is expected to be in the 30-70% range. On the long term, this step builds a relationship with both the JPEG’d DAO and the NFT collection we are willing to buy. This continued investment in both DAOs will yield support, volume, and increased possibility to be included in JPEG’d as a supported collection even if we are not at ATH yet. As DirtbagLu advised, I propose that we sell our BGAN rewards in NFTx and utilize a chunk of the ETH to sweep NFTs from Milady Maker. I will personally attempt to strike a deal to sweep at lower prices. Out of all the JPEG’d supported collections, Milady Maker is the only one that stated their support to bganpunks. In addition to that, there is a lot of upsides in holding their NFTs, so it makes sense to invest there.

CMFB