Moving the Founding Pass airdrop forward

This proposal was drafted by basgras.eth - for discussion, please go to 🌟│dao-chat on the COLORSxCOMMUNITY Discord.

To start the DAO, we put 1,000 Founding Passes on sale with an additional allotment of 700 to be sent to the COLORS Team, COLORS Show Alumni and key contributors in the community. Our original plan was to do this at the end of the sale. We want to do this concurrently, so that we can start building with the full spectrum of our network right away. The below describes the plan.

Problem space

• If we add an additional 700 NFTs now, these will go on sale immediately. So this is not a solution.
• When we airdrop at this stage, this will come out of the supply of 1,000 currently on sale.
• We’d like to airdrop with NiftyKit (our mint partner), so we can save gas fees. This means sending 700 NFTs to treasury is not the right solution.

Suggested solution

• We will airdrop Founding Passes out of the existing 1,000, rather than wait for them to sell out.
• For each NFT airdropped, we will increase the supply by 1. We will do this in bulk once we near the 1,000 limit.
• On Friday June 10, we will start airdropping NFTs out of the initial supply to key people (e.g. alumni, team, contributors) to involve them & build visibility.
• Number of passes for sale will never exceed 1,000.
• The total supply will never exceed 1,700.
• Other mechanisms previously communicated around the Founding Pass NFT drop remain unaltered.

Benefits

• Ability to involve long-term COLORS operators in the DAO.
• Ability to involve all the artists who have made COLORS what it is today in the DAO.
• Additional visibility for the community’s activities and the Founding Pass sale through word of mouth.

Vote

Yes - Vote YES to approve bringing the airdrop forward according to the above design. No - Vote NO to not approve bringing the airdrop forward according to the above design.