Authors: Ani, Lu

Abstract

As specified in LIP-31, this proposal establishes a 60-day registration period for Ethlizards holders to confirm their wallets for the Portfolio Sub-DAO distribution. After registration closes, holders may redeem their proportional share by returning their lizard or keep their share in the DAO treasury, after which the portfolio treasury will be transferred to the new DAO Council.

Motivation

The number of active holders is needed to determine a fair distribution for lizards desiring to exit the project. This simple registration and redemption process via Snapshot accomplishes this. All active holders should vote, regardless of their intention to exit the project or not.

Core Points

1. Registration Requirement

This vote serves as a Registration of all active Ethlizard holders and gives an indication of their plan to exit the project.

Upon passage, holders will have 60 days to register their wallets via this Snapshot vote. All registered Lizards will be included in the distribution calculation.

2. Distribution Mechanics

After registration closes, the portfolio will be divided equally per registered Lizard.

Holders may then send their Ethlizards NFTs to the portfolio treasury within 15 days after registration close and will be returned their share in the DAO portfolio.*

*Important Note - Only holders that indicate they intend to "Exit" will be eligible to redeem their Ethlizards

3. Final Treasury Transfer

Once all redemptions are complete, the incoming DAO council will receive access to the full portfolio treasury multi-sig.

Vote Options

Exit — I intend to exit the project and will redeem some of my NFTs for a proportional share of the treasury within 15 days after this vote ends.

Stay — I intend to remain in the project and will not redeem any Ethlizards.