FIP#80 - Project New Wind

Voting ended over 1 year agoSucceeded

Due to the length of this proposal and its two additional amendments we’re only posting a Summary of the original proposal, and Quorum requirements on Snapshot.

Find the proposal in its entirety on the NFTX forums here: https://forum.nftx.org/t/xip-56-project-new-wind-finalized-with-amendments/662

Read and participate in the entire forum discussion leading to the additional amendments here: https://forum.nftx.org/t/xip-56-project-new-wind/639

Summary

This is a proposal for a “merger” between NFTX and FloorDAO, in collaboration with Merit Circle. If approved, the result of the proposal would be a combination of the respective teams, products and treasuries of NFTX and FloorDAO (referred to as “Project New Wind”).
Project New Wind would have a governance token that the existing governance tokens for NFTX and FloorDAO would be exchangeable into (referred to as “New Token”).
As part of the merger, there would be a scheduled release of a novel NFT liquidity protocol, powered by Uniswap V4 and scaled by Base.
Relaunch of Floor V2 in the lead up to Project New Wind to seed initial liquidity pools with selected collections.
Governance of the New Token would be on-chain, with 20% of the total supply of the New Token being controlled by a smart contract that is subject to on-chain token holder governance.
An ownerless Cayman Islands foundation company structure will be incorporated to be adjacent to the DAO and to further the growth and development of Project New Wind, as well as ensure compliance.
Expected timeline for completion would be within Q3, in the scenario the proposal is approved without material changes.
An identical proposal is being made simultaneously on the governance forum of FloorDAO and proceeding with the proposal is subject to approval by the token holders of both NFTX and FloorDAO.
Two additional amendments have been made to the original proposal, added in a repost under the original proposal for clarity purposes. We highly advise anyone that votes on this temperature check to read forum discussions linked under Communications, to understand the origin of these additional amendments.

Quorum

Due to the impact of this proposal, this temperature check vote will run for 7 days.

Minimum Quorum: 25,000 votes

Off-Chain Vote

Approve FIP#80

182.07K FLOOR100%

Reject (Amend) FIP#80

0 FLOOR0%

Quorum:728%

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Discussion

FIP#80 - Project New Wind

Timeline

Jun 04, 2024Proposal created

Jun 04, 2024Proposal vote started

Jun 11, 2024Proposal vote ended

Jun 12, 2024Proposal updated

Summary

This is a proposal for a “merger” between NFTX and FloorDAO, in collaboration with Merit Circle. If approved, the result of the proposal would be a combination of the respective teams, products and treasuries of NFTX and FloorDAO (referred to as “Project New Wind”).

Project New Wind would have a governance token that the existing governance tokens for NFTX and FloorDAO would be exchangeable into (referred to as “New Token”).

As part of the merger, there would be a scheduled release of a novel NFT liquidity protocol, powered by Uniswap V4 and scaled by Base.

Relaunch of Floor V2 in the lead up to Project New Wind to seed initial liquidity pools with selected collections.

Governance of the New Token would be on-chain, with 20% of the total supply of the New Token being controlled by a smart contract that is subject to on-chain token holder governance.

An ownerless Cayman Islands foundation company structure will be incorporated to be adjacent to the DAO and to further the growth and development of Project New Wind, as well as ensure compliance.

Expected timeline for completion would be within Q3, in the scenario the proposal is approved without material changes.

An identical proposal is being made simultaneously on the governance forum of FloorDAO and proceeding with the proposal is subject to approval by the token holders of both NFTX and FloorDAO.

Two additional amendments have been made to the original proposal, added in a repost under the original proposal for clarity purposes. We highly advise anyone that votes on this temperature check to read forum discussions linked under Communications, to understand the origin of these additional amendments.