Degen Toonz Community DAO Yuga Labs Investment

The Proposal

29 Eth from DAO funds to be used to purchase:

1 x Mutant Ape Yacht Club token - approx. 16 Eth (Mutant to be selected by community via Poll).

1 x Bored Ape Kennel Club token - approx. 7.5 Eth (Kennel to be selected by community via Poll).

2042 $ape (Apecoin) - approx. 5.7 Eth.

Absolute Total Max Spend of 30 Eth.

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Details

NFT assets to be purchased and held by the DAO wallet, and $ape staked on apestake.io in order to earn returns/rewards.

Rewards can be claimed anytime, tokens and $ape can be un/re-committed to stake by wallet at any time.

Mutant to be committed to MAYC pool, max staked to generate rewards every hour, to be claimed monthly/weekly (TBD)

Mutant paired with Kennel and any left over/future $ape to be committed in Paired Pool.

Rewards to be re-staked Weekly/Monthly (TBD), until max staked (Paired Pool can use tokens already committed in BAYC or MAYC pool as long as paired with BAKC).

Once both tokens are max staked, additional $ape to be committed on APECOIN Pool for remainder of staking period.

Any/all future utility generated by this investment to be put to a community vote - e.g. future Otherside application, asset drops, etc.

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Monitoring Our Investment

Committee, with help of the Community, will monitor this investment.

Periodic statements (profit/loss) will be created and added to the doa-documents channel in Discord.

In the event of a 25% change in the price of assets - either up or down - a Town Hall meeting will be scheduled to discuss. If necessary, a Community vote will be created to decide on any proposed actions needed to be taken.

In the event of a sudden crash that crosses the -25% threshold, the Committee can take unilateral action to protect any further losses, after making efforts to discuss with Community.

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Do you agree to make this investment?

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