BIP-8: PleasrDAO x BitDAO

OPPORTUNITY:

Imagine a world run by communities, not centralized companies. A world in which bottom-up engagement and agency for individuals is celebrated and supported, rather than compartmentalized and extracted. BitDAO is building an ecosystem of fractal growth made possible by empowering communities in specific industries, and enabling them to build to heights not previously possible. A spirit of mutualism has arisen in this model, in which BitDAO provides resources to passionate and capable individuals and their success leads to more opportunities for BitDAO to provide resources. This virtuous cycle is beginning to show the world that life need not be zero sum. Together we are strong. Together we can change the world.

No single group can achieve this goal alone, no matter how passionate or motivated - the ethos of “partner when possible” is imperative to succeed. By aligning with other like-minded communities we can expedite this vision; in our opinion, other large and successful DAOs are the perfect partner to actualize this ideal. There are several ways of aligning: through ecosystem support of AEs (as seen with Game7, EduDAO, and zkDAO), token swaps (as seen with the ~$200M FTT <-> BIT proposal), and through direct investment.

PleasrDAO is one of the most well-known DAOs in the world with a fantastic history of innovation in digital art. It is supported by nearly 85 members of which most, if not all, are seen as global leaders in the crypto and digital art domains. They are open to investment to engage strategic partners and amplify their ability to create delightful experiences and community engagement. This community has continually shown itself to be a good actor by supporting some of the most important global causes and individuals.

We have been in conversation with them in regard to a potential partnership in which BitDAO would invest in PleasrDAO. The investment amount would be $6.5M (95% ETH/USDT and 5% in BIT), and lead to many potential collaborative efforts between the two communities.

Addendum: This proposal is being sent to Snapshot vote due to time constraints related to the funding opportunity. Due to legal requirements, the exact details of the fundraise cannot be disclosed; however Windranger, Mirana, and Alameda have reviewed the terms and are supportive of this partnership. For more insight regarding the legal issues faced at the cutting edge of what DAOs can (and can't) do, please refer to the editorial recently published by Mirana Ventures Managing Partner and BitDAO core contributor Jon Allen.

Read the full proposal here: Drive Link IPFS Link