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friesDAOfriesDAOby0xAa4279b9364C541ffe47E53f1a8c8BDb7A78ec110xAa42…ec11

What should we do with remaining FRIES tokens from the raise?

Voting ended almost 4 years agoSucceeded

In a few hours, the treasury raise will be completed. The original raise at https://fries.fund should have been max 9,696,969 USDC. Since the "diminishing" max raise countdown started, we have now set aside at least 4,000,000 USDC at the time of this proposal. If at the current contribution price, this represents approximately 173,250,175 FRIES (and may be slightly more as there is still $348,000 available to diminish at time of writing).

Following the raise completion, these are the available options as to what to do with the remaining tokens:

OPTION 1: Extend the raise - Renew these tokens again into a raise for one week, essentially restoring the 9,696,969 USDC max cap. PRO: Potential to increase treasury funds; CON: May not bring in too much additional funds and will be a longer wait before receiving tokens.

OPTION 2: Burn the tokens - Permanently remove these tokens from the supply. PRO: Makes FRIES access and membership more exclusive feeling; CON: Somewhat reduces accessibility by the general public.

OPTION 3: Treasury lockup - Remaining tokens will be moved into the 1 year locked governance treasury (increasing treasury from 25% supply to ~45% supply). PRO: Increases treasury for potential use case for future necessities through governance; CON: Total supply remains increased.

OPTION 4: Distribute the tokens - All contributors will proportionally receive these additional tokens. PRO: Initially rewards early believers of the project; CON: May cause extreme dilution while concentrating supply to a number of holders (unless representing value of contribution per token is decreased).

Off-Chain Vote

Extend
0 0%
Burn
0 0%
Treasury
63.61M 59.3%
Distribute
43.58M 40.7%
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Timeline

Feb 20, 2022Proposal created
Feb 20, 2022Proposal vote started
Feb 22, 2022Proposal vote ended
Oct 26, 2023Proposal updated