FFIP-16: Social Token Alliance Swap

Author

Qhawe

Summary

The Treasury team proposes swapping $25,000 of $FF with five of the leading social token communities. This will have multiple benefits for Forefront, including diversifying our treasury, aligning us with leading social token communities, and improving DAO2DAO relationships.

The Forefront Treasury working group has been in talks with Treasury teams of these communities. We are seeking to build a long-term alliance among the leading communities in the sector that should bring Forefront opportunities for years to come. This initial token swap is step one.

Motivation

This is an opportunity for Forefront to pioneer a D2D model with other leaders in the space. Participating communities include Bankless DAO, Krause House, Cabin, DAOHaus, and Yup. The following lists both immediate benefits and a few potential opportunities that could be spawned from such an alliance.

Benefits to Forefront

• Treasury Diversification: We would diversify into 5 of the leading social token communities in one swap. Token swaps are particularly valuable in that no $FF would need to be sold on the open market (thus putting downward pressure on our token).
• Forefront would be aligning ourselves financially with some of the leading social token communities. This should lead to greater collaborations and more opportunities for our community.
• Forefront would establish metagovernance rights in the participating DAOs.
• Forefront will benefit if any of the participating community’s tokens “moons”
• Forefront would be pioneering a new form of multi-DAO Alliances.
• Future opportunities for collaboration amongst Alliance partners may include joining lobbying efforts, contributor sharing, collateralized loans, liquidity solutions, a joint VC fund, and more.

Specifications

Forefront would send $25,000 to a multi-sig wallet (of which we would be a signer). In return, we would receive:

$5,000 of $CABIN $5,000 of $KRAUSE $5,000 of $HAUS $5,000 of $YUP $5,000 of $BANK

Tokens would be subject to a minimum of a 3-year lock.

For more details, please reach out to our Treasury team.

Quorum

• Quorum: Minimum 5% of all currently circulating $FF (excluding treasury tokens) or 43119.2 $FF must participate for the proposal to pass.
• Passing Threshold: 65% or more of voting members must vote YES for the proposal to pass.

Vote

Yes - Vote YES to approve FFIP-16: Social Token Alliance Swap No - Vote NO to reject FFIP-16: Social Token Alliance Swap

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