Funding the DAO treasury through trading fees

Title: Funding the DegenzDAO Treasury with Trading Fees Read the proposal: #treasury-funding Discord channel Authors: azimandias Date: July 7, 2021

SUMMARY

• We propose allocating all future trading fees for Degenz NFTs to the DegenzDAO treasury.

• In addition, the first 50 ETH of trading fees was originally earmarked for DegenzFest. The community then voted to repurpose this towards the buyback. We have already used the first 10 ETH of trading fees for the buyback. We propose that we cap this allocation to 10 ETH so that any future trading fees now go towards the DAO treasury instead of being allocated towards more buybacks.

• By capping the trading fees earmarked for the buyback to 10 ETH, the DAO can immediately start funding high-value initiatives for the Degenz community, such as commissioning pieces for exclusive Degenz-only auctions, incubating artists for exclusive access, setting up virtual galleries, and doing airdrops.

• Note that in total, we have already used 140 ETH for the buyback: the original 100 ETH earmarked for the buyback + the 30 ETH earmarked for community grants (but repurposed for the buyback by vote) + the first 10 ETH of trading fees. Given the sizable amount we’ve spent on buying + burning, we should now prioritize funding the DAO.

Full proposal here: https://docs.google.com/document/d/1IMAN44RwLPQoI2Vt15dvLV_mtgvNHLkfhQ2s2JyzoH8/edit

Choices:

Option 1: Send all trading fees to the DegenzDAO treasury AND cap trading fees that go to the buyback to 10 ETH (instead of 50 ETH).

Option 2: Send all trading fees to the DegenzDAO treasury BUT maintain the current cap on trading fees that go to the buyback to 50 ETH

Option 3: Do not send trading fees to the DegenzDAO treasury AND maintain the current cap on trading fees that go to the buyback to 50 ETH