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Fortress DAOFortress DAOby0x57E04786E231Af3343562C062E0d058F25daCE9E0x57E0…CE9E

Fort-0012: Resolve FUSD investment concerns

Voting ended about 4 years agoSucceeded

Some in the community have been concerned over Fortress funding and bootstrapping FUSD, which is a related but separate project. To address these concerns, we propose the following:

  1. FUSD immediately burns its entire Fort holdings: currently around 93k, but will be slightly higher due to rebases by the time this vote concludes. This represents a value of over a million dollars based on its share of the treasury; burning these tokens would mean all other Fort tokens have a correspondingly greater backing value, extending the runway.
  2. This is viewed as entirely compensating Fortress for the investment to develop FUSD. Fortress will still have minting and redemption fees entirely waived for FUSD.
  3. FUSD will be permitted to transact on the market going forward on the same terms as any other market participant. However, to avoid a conflict of interest, FUSD will refrain from voting Fort on any proposals.

Off-Chain Vote

Approve
138.29K 92%
Reject
12.08K 8%
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Timeline

Jan 28, 2022Proposal created
Jan 28, 2022Proposal vote started
Jan 29, 2022Proposal vote ended
Oct 26, 2023Proposal updated