Legacy systems move at too slow of a pace compared to crypto. Today's apes simply want the token price to skyrocket, there is no deep regard for real world applications (unless it leads to the token price skyrocketing now). The desires of crypto apes obviously don't work in tandem with the slow-paced regulatory world, therefore, myself and a couple of other friesDAO members propose to make $USDC redeemable from the treasury with $FRIES at a 1:1 ratio with the allowable contribution price - $0.0214600394 $USDC.
This ratio would allow for a ~92.94%* refund (to date the DAO has expensed ~100K + 50K from the marketing budget to reacquire $FRIES).
*we are excluding the 230.88K $USDC which was used for the Uniswap LP pool (which is locked for 1 year).
Pros of the proposal:
Cons of the proposal:
To be clear, this proposal does not signify the end of friesDAO. The refund period will go on for 2 weeks...if there is enough $USDC left in the treasury to operate by the end of the refund period, friesDAO will continue.
This proposal voids the "one year offer", "If we fail to acquire a franchise within 1 year of the raise, you'll be able to redeem your $FRIES 1:1 at the original contribution rate, minus gas and treasury expenditures to date".
Since we haven't acquired a franchise yet...nor have we heavily marketed friesDAO, we still have the appropriate amount of $USDC to go through with something like this, so why not propose it and see what the community thinks.
Vote "YES" if you are in favor of refunds.
Vote "NO" if you are against.