Proposal for the Transition to a Membership NFT

TL;DR: Fingerprints will launch a membership NFT that will allow for on-chain governance and improved membership experience.

Context

Fingerprints governance and membership are currently exercised through the $PRINTS token, an ERC-20 token launched in early 2021.

This proposal intends to upgrade the governance token to an NFT (ERC-721) standard that will allow for the following benefits:

• Direct governance by members through inclusion of on-chain voting and delegation functions;
• Easier access to membership through usage of NFT marketplaces;
• Making membership more appealing by turning it into a piece of art;
• Simplifying the membership experience and onboarding;
• Eventually freeing resources from the ERC-20 liquidity pool.

This will be done through the launch of both the membership NFT contract and a migration contract that will allow members to convert their $PRINTS into NFT memberships.

Proposal

1. Hire a developer to create and deploy an on-chain governance enabled ERC-721 membership NFT contract;

   a. this does not entail an immediate move to on-chain governance, rather, only enables the possibility of doing so in the future, to be approved by a future proposal.

2. Hire a developer to create and deploy a migration contract that converts $PRINTS to the new NFT at a ratio of 5,000 $PRINTS to 1 NFT;

   a. this contract should only allow for a one-way conversion of $PRINTS to the membership NFT, so as to simplify and move the DAO to a single governance standard in the long-run;

   b. $PRINTS will still be supported in the short-term as governance tokens.

3. Hire a developer to create and deploy a front-end UI connected to the migration contract that allows members to easily convert their tokens;

4. Budget up to 5,000 USDC, for the aforementioned development work.