Sell Neo Tokyo Citizen; Buy $BAG

Background

In January, we acquired a NeoTokyo Citizen for 10 ETH after a passed governance proposal (see: #QmeNcKA). In spite of repeated assurances from the NeoTokyo team, both before and after the proposal, that they would work with us and promote our project to their community, we continue to get no specifics / ETAs and no commitment. It's been over 7 months.

Proposal

Sell the NFT as close to the current 7 ETH floor as possible, cutting our losses. With the proceeds, buy $BAG over the following week.

Rationale

We’ve made every effort at our disposal to escalate this within their organization, and, while we harbor no ill will for them, it’s no longer reasonable for us to expect them to deliver. It makes sense to recover as much as possible and cut our losses.

We’ll buy $BAG with these proceeds because, with bag.win weekly profits near all time highs, it’s an opportunity to remove some from circulation near all time lows.