Creation of a DAO treasury

The recent creation of $EDET has presented an opportunity for the EDE ecosystem to thrive. By establishing a DAO treasury wallet, the protocol can accumulate $EDET and use it to finance future growth and development.

With the DAO treasury wallet, the future purpose over the $EDET accumulation are still being decided, and the tokens used for staking are not to be sold nor unstaked from $EDET staking contract. The only cases in which tokens would be unstaked would be to be sold in a dutch auction / public auction arrangements.

The DAO treasury wallet would be governed by a controlled by a multisig, governed by $gEDE proposals, which would ensure that the funds are used responsibly. The future purpose of the $EDET accumulation is still being decided, but some potential uses include:

1. Funding audits and other security measures.
2. Buying back $gEDE tokens.
3. Investing in new projects and initiatives.
4. Providing grants to community members for ecosystem development.

The above reasonings do not cover all of the reasons and represent what a DAO treasury can facilitate. These above reasons also don't represent any immediate decision.

The DAO treasury will be governed by a 3signature multisign, in which two approvers are from the dev team, one approver is the strategic investor, with the final approval behind held by Dorado.

Key details -1,100,000 $EDE tokens are to be staked into the $EDET contract over the course of 22days, with 50,000 $EDE tokens to be staked each day. Across Both chains this will occur. -The resulting $EDET accumulation for the DAO treasury is to be governed by the $gEDE holders.

The negatives of this proposal are minimal, and the positives are numerous. The only downside is that the $EDET yield would be partially diluted through the staked $EDE tokens from the DAO. However, this is a small price to pay for the many benefits that a DAO treasury wallet would provide.

The tokens are not being minted, rather repurposed from the reserve amount that is currently unallocated.

In addition, the team will not stake the all the tokens if it results in too much dilution to $EDET, nor will these tokens even be staked in the $EDET staking contract for 10% revenue that is being created. The purpose of this plan is not to dilute the yield, but rather ensure that a DAO can be created that will ensure the longevity of the $EDE ecosystem.

Wallet address will be disclosed to ensure the community can audit the DAO wallet. Tokens from the DAO wallet will never be sold to the LP, only sold dutch auctions the team is planning to implement in the near future.

Option one Approve plan.

Option two Approve plan after more consultation with community to set up staking schedule plan.

Option 3 Reject proposal entirely.