BIP-019: Dissolve Investment Committee (tropofarmer and Gfunk)

Status: BIP Proposal Author: n00bleLAND Created: 7 January 2021 Implementation: Immediate. ‌

Buzzed Summary

Dissolve the NFT Investment Committee and reallocate the remaining eth to other initiatives.

Abstract There have been three different proposals in the forum to dissolve the Investment Committee with different solutions regarding what to do with the remaining NFTs and funds. This is to confirm the dissolution of the Committee and to reallocate the funds to other initiatives. After discussion in the governance forum (https://gov.buzzedbearhideout.com/t/dissolve-investment-committee-tropofarmer-and-gfunk/654) the following conclusions are proposed:

1. Dissolve the Investment Committee
2. Put the NFTs currently in the Investment Committee wallet under the jurisdiction of the NFT Flipping Committee
3. Re-allocate the remaining funds according to the following specification:

• Marketing Committee: 20%
• DeFi Investments: 13.33%
• NFT Flipping Committee: 26.67%
• Metaverse Committee: 33.33%
• Crypto Committee: 6.67%

Specification ‌ Overview ‌ It has been a few months since we passed BIP-003 with an original intention to simplify the honeypot allocations in an investment strategy, allowing:

30% Metaverse Committee 20% Investment Committee 10% Community NFT Fund 20% Defi 20% Spending Reserve

Currently there is approximately 15.5 eth remaining in the Investment Committee Wallet as well as 8 NFTs (https://zapper.fi/account/0x3b762b6a03b5a0772c2d64e1d05e5b77d841c0b4)

The three previous proposals to dissolve the Investment Committee are listed here: Vote to Disband The Investment Committee (https://gov.buzzedbearhideout.com/t/vote-to-disband-the-investment-comitte/577/4) Dissolve IC and Create Automated Crypto Trading Investment with Unlisted.io (https://gov.buzzedbearhideout.com/t/dissolve-ic-and-create-automated-crypto-trading-investment-with-unlisted-io/644) Vary Investment Strategy - dissolve investment committee and fund crypto committee (https://gov.buzzedbearhideout.com/t/vary-investment-strategy-dissolve-investment-committee-and-fund-crypto-committee/607/6)

The following are the results of the voting from the governance forum:

Should we disband the Investment Committee: 95% - Yes 5% - No

What should we do with the NFTs that are currently in the Investment Committee wallet? 67% - Hodl the NFTs and put them under the jurisdiction of the NFT Flipping Committee 33% - Keep NFTs in current wallet and categorize them as “Long Term Hodls” 0% - Liquidate and start anew

What should we do with the funds that are currently in the Investment Committee wallet? There is currently approximately 15.5 eth remaining in the IC wallet. The options for reallocation include, but are not limited to the following:

32% - Split between multiple committees (please specify in comments) 21% - Send to DeFi allocation 21% - Send to Marketing Committee 16% - Send to NFT Flipping Committee 10% - Send to Metaverse Committee

Since the split was the choice with the highest votes, it is proposed to split the funds among multiple committees. Due to the complexity of this answer, the sentiments were taken from the comments that were expressed in the forum. Those were counted and the proposed re-allocation is based on the percentage of votes each committee recieved in the comments section only.

Rationale ‌ The reasons for this proposal are:

• Continued questioning of Investment Committee’s effectiveness
• Adjust previous strategy that is not creating expected output

Technical Specification ‌

• Confirm vote to dissolve Investment Committee via Snapshot vote.
• Use governance forum to re-allocate remaining funds

Test Cases ‌ Bears have proven that they can manage investment strategies better than these external parties, especially with vested interest i nthe success of the Hideout. There have been net losses from the Investment Committee to date, and calls for more active account management.

Copyright ‌

Copyright and related rights waived via CC0.