Motion to Sell Yuga Assets to Accumulate Currency Reserves and Inhabitants

Title: Motion to Sell Yuga Assets to Accumulate Currency Reserves and Inhabitants

Preamble: Authors: @verbdan, @wiggles, @bennydlowkey, @averagejocrypto Implementor: Pixel Vault Founder’s DAO Community Members

Created Date: November 16, 2022

Summary: This proposal will offer 5 options to address the lack of liquidity and diversification of the Founders DAO holdings. Option 1 (100% eth): Sell Bored Ape #5860, Mutant Ape #21720, and list Other seeds [#28468, #28469, #28470, #2002, #5860] (apes and other deeds sold at trait floor prices) Option 2 (100% eth): In ADDITION to selling assets from Option 1, BAYC #9004 and it’s associated MAYC #2808 will be sold (trait floor prices) Option 3 (50% eth/usd): Sell Bored Ape #5860, Mutant Ape #21720, and listing Other deeds [#28468, #28469, #28470, #2002, #5860] (apes and other deeds sold at trait floor prices) Option 4 (50% eth/usd): In ADDITION to selling assets from Option 1, BAYC #9004 and it’s associated MAYC #2808 will be sold (trait floor prices) Option 5: Do not sell any assets

**Note: for 50% eth/usd option - 50% of eth profits will immediately be changed to USCD if/when the price of eth is above $1,100 usd.

This proposal at current prices would provide the DAO with funds that it currently holds little of, outside of the $APE (provided by said ape(s)). These funds will be used to execute inhabitants purchases (details provided below). Remaining funds, after Inhabitant purchases, will be kept in the PVFD wallet to be used based on future proposals set forth by the community.

Abstract:

Currently the PVFD has approximately 1.5E available (excluding $APE). Assuming the associated assets sell at the current floor price and before royalties/fees are considered:

• upon a ‘yay’ vote for Option 1 & 3 the ‘treasury’ would hold approximately ~81E after sales.
• upon a ‘yay’ vote for Option 2 & 4 the ‘treasury’ would hold approximately ~156E after sales.
• upon a ‘yay’ vote for Option 5 the treasury will remain unchanged
• additionally the ‘abstain’ option is included, as well.

Motivation:

The options presented in this proposal have been discussed at length within the PVFD community, and the time to act is now. The goal of this proposal is to take advantage of the low market for Inhabitants and build a treasury, in addition to the freedom in liquidity to pay for future endeavors/proposals for the PVFD, as we collectively see fit through further proposals.

Specifications:

Current Liquidity as of 11/23/22 2:00pm EST: -26,812 $APE ($90,000) -1.57 $WETH ($1850)

Estimated net proceeds as of 11/23/22 2:00pm EST: Option 1/3: BAYC: ~64.5E MAYC: ~11.5E Otherdeed: ~1.23E x5 (Otherdeed #9004 will be saved as it contains a koda)

Total: 81E ($95k) pre royalties/fees

Option 2/4: BAYC: ~130E MAYC: ~23E Otherdeed: ~6.25E

Total: 169E ($198k) pre royalties/fees

Option 5: No sales. Total: 1.57E

To facilitate these sales, a temporary committee will be established to deal with the sale of these assets, and get fair market value, then finally return the funds to the Founders Wallet (foundersdao.eth), then dissolve said committee. Assets cannot be sold for less than the floor price of each respective collection. The committee will, to the best of their ability, attempt to extract the maximum value possible. The committee reserves the right to not sell any/all assets if they are not able to sell for appropriate value. Market movements that are dramatic and or sharp in nature, should be resolved in the DAO, dynamically and timely; instead of made on the committee members individual authority.

The Committee member or members involved with this proposal, will be compensated with 3 mp2’s each.

The member nominated to facilitate the BAYC trade is Zeekay (Zeekay#9999). He will be finding buyers in the BAYC Discord for possible OTC deals on nfttrader.io. These assets will remain at trait floor price until Zeekay brings a buyer, the asset sells, or the year 2022 ends

Benefits:

Liquidity upon a ‘yay’ vote for Option 1- 4, and successful sales. This is a big enough win for many within the PVFD community, due to future opportunities that liquidity opens up.

Plan for Funds:

The temporary committee will have the additional task of purchasing between 20 and 80 IH’s that are at or near the IH Floor. These will be immediately staked in the gaming contract once available and could be used for IP development, free game play, tournament prizes or many other things as the community sees fit in the future.

Purchasing Parameters:

Currently listed Inhabitants will not be considered for purchase if the listed price increases more than 5% from current listing price (snapshot taken 11/27/22)

Purchase details per selected option: Option 1: 40 - 50 Inhabitants Option 2: 60 - 80 Inhabitants Option 3: 20 - 40 inhabitants Option 4: 50 - 60 inhabitants

The members nominated to facilitate the Inhabitants' trades are Bennydlowkey. (Bennydlowkey#1164) and Daniel G (Daniel g#8576) They will be finding sellers in the PV Discord for possible OTC deals on nfttrader.io as well as buying and placing WETH offers on Blur and the PV Marketplace.

Drawbacks:

The drawbacks revolve around asset floors that the Pixel Vault Founders DAO would rather not speculate around. While we as a collective in the PVFD love our Yuga assets, we also understand the need for liquidity in our DAO. The drawbacks have been considered, we press on with our remaining Apes/assets if this proposal passes, eager to maintain our position in that ecosystem, as we have so far.

In Conclusion: We ambitiously launch this proposal as the first of many steps that we as a collective will be making to further solidify our legacy in the web3 space and beyond.

Thank You!