PiP Purchase

Acquire Inhabitants for the Pixel Vault Founders DAO (PVFD) Authors: @rolldawg Type: Acquisition Implementor: Multi-sig Team, Trading Team Created Date: May 17, 2023

SUMMARY: This proposal will allow the PVFD Trading Team to purchase 50 Inhabitants: Generative Identities (PiPs) for no more than 25 ETH for an average cost of 0.5 ETH each with a time limit of six weeks.

ABSTRACT: What: The FoundersDAO currently has ~180 ETH (ETH & WETH) in liquidity. This purchase will utilize less than 14% of the total ETH held by the FoundersDAO.

Why: This proposal would capitalize on the current low price of PiPs prior to the Battle Plan! game release, continuing to align FD vault holdings with Pixel Vault’s impending game execution, while further reducing the FD’s cost-average of their Inhabitants’ Generative Identities.

Who/Where: Multi-sig team will be responsible for all transactions leaving the FoundersDAO.eth wallet (FD wallet: 0x580A96BC816C2324Bdff5eb2a7E159AE7ee63022). Trading Team: bennydlowkey#1164 & daniel g#8576, will be responsible for any purchasing and negotiating to acquire PiPs from the Trading Team hot wallet (0x1993f7392A94f15847D9c2881A590C8a2e1d55Bb) and transferring PiPs to the FoundersDAO.eth wallet.

How: The Multi-sig team will transfer 8 ETH to the Trading Team hot wallet. Purchasing committee uses funds to make PiP purchases. PiPs will be transferred to the FD wallet immediately after purchase to ensure a low value is maintained in the hot wallet. When the hot wallet value falls below 3 ETH, the Trading Team will notify the Multi-sig team which will then send another 8 ETH to the Trading Team hot wallet. The above process repeats until the specified amount of PiPs has been purchased. When complete or time expires, the remaining Trading Team hot wallet funds will be sent back to the FD wallet.

POSITIVES: Lower the FD’s cost average of PiPs owned. Align FD vault holdings with Pixel Vault’s execution and building. Increase the FD’s potential benefit with Pixel Vault’s impending release of Battle Plan! game. FD wallet will have ~155 ETH following the execution of this proposal.

RISKS: Battle Plan! has no guarantee of improving market sentiment surrounding PiPs. PiPs prices may continue to fall. The trading wallet could become compromised. No guaranteed financial return from the execution of this proposal.

OVERVIEW: This proposal will allow the PVFD Trading Team to purchase 50 Inhabitants: Generative Identities (PiPs) for no more than 25 ETH for an average cost of 0.5 ETH each with a time limit of six weeks.