Burn Founders DAO Planets For Dust

Date of Submission: 1/4/2024

Proposal Committee: Founders DAO Executive Team

Implementer(s): Founders DAO Multisig Team

Abstract: This proposal focuses on migrating all planets held in the Founders DAO's current wallet to a new multi-chain wallet that is compatible with Nova One (eth:0x2C0BDb957F5a6976E4Ceb5A34470bFB13D30a278). The current multi-sig wallet address can only operate on the ETH Mainnet. Following the transfer, a predetermined number of planets will be burned in exchange for dust, a process to be executed by the Founders DAO Multisig Team (list of signers can be found in #fd-resources) Motivation: The central goal is to optimize the DAO's asset portfolio for functionality within the Nova One ecosystem, enhancing both liquidity and strategic positioning. This also allows us to collect $GG after the 2 year vesting period and utilize said $GG as seen fit.

Connection to Mission: Aligning with the Founders DAO’s ethos of innovation and adaptability, this move to a multi-chain environment on Nova One represents a strategic pivot towards modernized, efficient asset management and community-driven asset optimization. This move also supports the Reboot platform and shows our conviction for its success Specification:

Technical Aspects: Secure transfer of all planets from the current wallet to the new multi-chain wallet, followed by the burning of a specified number of planets. Budget and Funding: Primarily involves the reallocation of existing assets it will require ETH for gas to move these assets Expected Returns: The released $GG after the 2 year vesting period has reached its finish and enhanced operational capabilities on Nova One. Execution:

Secure DAO community approval for the proposal. Set up a new multi-chain wallet compatible with Nova One. Transfer all planets from the existing wallet to the new multi-chain wallet. Burn the agreed-upon number of planets to convert them into dust. Ensure transparency and reporting throughout the process. Benefits:

Improved functionality and flexibility within the Nova One ecosystem. Enhancement of DAO's asset management and strategic positioning. Increased liquidity through the acquisition of dust. Drawbacks:

The irreversible nature of burning planets could lead to potential regrets if market conditions change. Reliance on the Nova One ecosystem's stability and success. Outcomes:

Successful transfer and burning of planets. Quantifiable increase in dust holdings. Evaluation of the impact on the DAO's positioning within the Nova One ecosystem. Continuous monitoring and reporting by the Founders DAO Multisig Team. Conclusion: The successful execution of this proposal will mark a significant step for the Founders DAO in embracing multi-chain functionality and optimizing its asset portfolio, in line with its mission of pioneering and adaptive asset management.

Option 1: Burn 100% of the planets in the DAO Wallet

Option 2: Do not burn ANY planets in the DAO Wallet