FIP#28 - Gauge Vote #3

Summary

FloorDAO currently holds several collections in its treasury, and regularly deploys liquidity to establish deeper liquidity. FloorDAO utilizes various different protocols, as well as market-buys NFTs at floor price. Starting with Gauge Vote #1, gFLOOR holders vote to expand our liquidity to the winning choice using 50% of yield from all positions over the course of 2 weeks. The winner of this vote will have 50% of the subsequent 2 weeks of total yield across all treasury holdings used to sweep the collection floors (or $FLOOR) and deploy in our various strategies. The Treasury team retains discretion over timing and type of sweep to prevent frontrunning.

Voters will have the opportunity to decide where this directed liquidity will go, including keeping the status quo and compounding yield, as well as the possibility to gFLOOR holders themselves. The Gauge Voting process will familiarize gFLOOR holders & DAO participants with a future veGauge mechanism.