BIP-013 - Crypto Investment Committee

Status: Proposal Author(s): n00bleLAND & CryptoChicca

Discussions-to: A final version of the proposal is found in the hideout at the following link, and a condensed version is provided here due to word count limitations: https://gov.buzzedbearhideout.com/t/crypto-investment-committee/573

Created: 3 November 2021

Implementation (optional): Immediate upon successful vote

Buzzed Summary

BIP-003 approved investment through the following honeypot allocations:

• 30% metaverse content
• 20% NFTs (via Investment Committee)
• 10% NFTs (via community proposals)
• 20% DeFi Content
• 20% Spending Reserves (as ETH)

To give operational support to help implement the above strategies from BIP-003 we need a Crypto Investment Committee who can make decisions and implement those decisions. This proposal is to provide operational guidance / permission to help that initiative.

Abstract ‌

A Crypto Investment Committee will be formed to allow the investment (both short term and long term) into cryptocurrencies with funds from the Honeypot. Also this will help facilitate honeypot areas like Metaverse who require non-eth crypto in order to purchase land for the metaverse initiative. It will also enable an in house solution so that these matters can be acted on in a timely matter, as crypto moves fast.

Motivation

Currently the Buzzed Bears are not exposed to the cryptocurrency market other than through its Metaverse investments with MVI token. This proposal aims to provide a way to gain exposure to the large upside that exists in the market, and approach it similarly to the functionality of the NFT Flipping Committee.

Recently, BBH commenced a metaverse discussion and while working through that discussion the price of $SAND rose from .60 cents USD to over $3.00 USD. As there was no proposal yet in place to determine the strategic direction, no crypto was purchased. This is a missed opportunity. If there was a Crypto Investment Committee who were able to seek feedback from Bears and invest for the benefit of BBH, this could be avoided next time.

Also, this will help when we need to sell an asset as a vote can go up within discord to be acted on quickly. So this provides a protective mechanism to all Bears, so all decisions can be public and open. It also allows the Hideout to make the best decisions in the remainder of the bull run to give the Bears the best chance of monetary success over that time.

Specification ‌ Overview ‌

It is proposed to mirror the approach that has been approved for the NFT Flipping Committee as that was previously supported. It is therefore suggested that a discord channel be opened for bear crypto chatter and then one opened for bear crypto decisions. That way requests can go into chatter and decisions for voting can go into the decisions channel. It is also suggested that there should be leads for this, “Crypto Gods” that can initially commence with @DefiJesus @Mesk85 and @BuzzedMo who currently have multisig access, and be expanded to two other trusted community members, to enable the timely action of crypto decisions across all timezones. Voting for the two other members should take place within discord through a nomination process and then a subsequent BIP, following the recent successful approach with the NFT Flipping Committee Apex Leads.

The following are some suggestions on how procedure may work, pulled from the NFT Flipping Committee. (Refer full proposal in hideout)

Rationale ‌

The reasons for this proposal are :

1. There is potential to grow the honeypot at a faster rate than it is currently growing.
2. We have enough brain power and crypto experience in the Hideout that should not go to waste.
3. Massive economic upside.
4. Protection from loss when needing to enter / exit positions.

Technical Specification ‌

This is an operational guidance proposal, to enable decisions to be made within the Crypto Investment Committee, as governed by the Crypto Gods. The Bears who request to be part of the Crypto Investment Committee can elect to hold a vote (not required) on the crypto asset ideas suggested in an informal way within the committee itself, whether by thumbs up/down, or as determined by the Crypto Gods to give best effectiveness to the outcome. The Crypto Gods will have the final decision to act on behalf of the committee keeping in mind the best interests of Bears and the popular community sentiment.

The following is the process for the initial election of the Crypto Gods (refer full proposal in hideout)

Test Cases ‌

Refer to full proposal in hideout

Copyright ‌

Copyright and related rights waived via CC0.