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Fraction TokenFraction Tokenby0x388E96Dfe68b30892af93f30F5035602D8d51487fractiontoken.eth

Move FRACTION from "Treasury" to "Whale", repurpose account for marketing

Voting ended about 2 years agoSucceeded

TL:DR; Move owned FRACTION on all chains from the "Treasury" account (treasury.fractiontoken.eth ) to the "Whale/Deployer" account (fractiontoken.eth). Then repurpose the "Treasury" Account as the "Marketing" Account.

2024-01_Treasury-to-Whale-repurposing.jpg


Reason & Backstory

Having both a "Whale/Deployer" and a "Treasury" account dates back to the launch of the project. On launch, 50% of the token got added to a FRACTION:xDai Liquidity pool, 12.5% into a FRACTION:MIVA pool, 12.5% saved for xATS/Expansion and 25% left in the deployement account (aka Whale) account.

To mitigate the risk of early sell offs by the project, a Superfluid Stream has been set up to stream those 25% left in the Whale account to a separate Treasury account over the period of 2 years. That stream ended on April 11th, 2023

Meanwhile, the whale account doesn't hold much FRACTION anymore (1.65%) and the treasury account the majority of project owned FRACTION (9.81%).

Whale-Treasury-Ownage.png

Whale: GnosisChain, Polygon, Optimism, Arbitrum, Avalanche, BNB Chain

Treasury: GnosisChain, Polygon, Optimism, Arbitrum, Avalanche, BNB Chain

Over the past 3 years, the project interacted with multiple other platforms, which involved minting profile NFTs registering with an account, etc. Good examples are the fraction_token.lens, cyber/link3.to or mirror.xyz profiles.

Connecting to any additional platform bears some risk, and to mitigate the risk that an exploit (or mistake on my end) puts the project owned FRACTION at risk, following proposal is up for vote:


The proposal asks:

  • Move all FRACTION currently in Treasury Accounts on GnosisChain, Polygon, Optimism, Arbitrum, Avalanche and BNBChain back to the Whale Account.
  • Repurpose the Treasury Account as the new Marketing account.
  • Disable the treasury.fractiontoken.eth ENS subdomain
  • Set up a new marketing.fractiontoken.eth ENS subdomain

Off-Chain Vote

Yes! Let's do this.
0.13 FRACTION69.1%
No! Keep it as it is.
0.06 FRACTION30.9%
Quorum:1857%
Download mobile app to vote

Discussion

Fraction TokenMove FRACTION from "Treasury" to "Whale", repurpose account for marketing

Timeline

Jan 22, 2024Proposal created
Jan 22, 2024Proposal vote started
Jan 29, 2024Proposal vote ended
Feb 15, 2024Proposal updated