Sell the DAOs holdings of MAYC before January 18th

Summary FloorDAO currently has $670k worth of funds in MAYC positions: 620k in xMAYCWETH and 50k in xMAYC. The month of January is an opportunity for the DAO to unload its MAYC position into ETH with minimal price impact.

1. BAYC and MAYC holders are entitled to a Yuga mint starting the 18th of January
2. Blur will distribute its airdrop at the end of January and the bids that bolster collection prices will be removed

The value of Yuga NFTs typically appreciates significantly leading up to new mints but then fully retraces after the airdrop occurs. I believe the DAO can preserve the most value from its MAYC position by selling shortly before the airdrop occurs.

Moreover, having ETH on hand will give the DAO more options. For example:

• Accumulating a larger MAYC position after January if/when prices go down
• Deploying liquidity into another collection of the DAO's choosing
• Holding on to the ETH for V2 redemptions but still using it to get yield in NFTfi strategies

If passed, the following would be the next steps:

1. Remove MAYC liquidity from NFTx
2. Reach out to Opensea on behalf of FloorDAO to unflag the MAYCs in DAOs wallets. This is not a necessary step but flagged MAYCs do trade for a few % lower than unflagged MAYCs on P2P marketplaces.
3. DCA out of MAYCs. The treasury manager can have some flexibility here but I would suggest doing 1 of the following:

• commit to selling 1 - 2 MAYCs per day leading up to the mint, regardless of the price
• Setting up a 1 sided sudo pool to progressively sell MAYCs from 17-20 ETH.

Risks It is important to note that there are risks associated with this proposal. Mainly opportunity cost with trying to time the market. If the value of mutants continues to appreciate after the DAO has sold its positions, the DAO will miss out on potential earnings.