Rebalance card price via a distribution of 84.5 ETH

Proposal to distribute 84.5 ETH to the 19 card holders who paid above 1.5ETH for their cards. This distribution aims to bring their average purchase price down to 1.5ETH

Context:

The DAO was launched with a tiered pricing system starting at 1ETH and increasing to 2.5ETH, with a limited amount of cards at each price point. The price you paid was calculated based on when you purchased it and how many cards you purchased. The more cards you purchased, the more “higher tier” cards you bought, increasing your average entry price. This was meant to incentivise decentralisation and avoid concentration of voting power.

On paper this was an interesting idea, in practice this has proven to be problematic for the following reasons: 1 - Almost everybody joined over a 3-4 months period, yet they paid different prices for their cards 2 - The pricing logic is difficult to explain and has become a friction point to help bring new members to the DAO 3 - The pricing logic has created unnecessary friction to promote the secondary market discussions

Over the last two months we have discussed many different options to address the shortfalls of the tiered model and have concluded that a cash distribution is the most fair and easy to implement.

The DAO currently holds in excess of 100ETH, so this will have no impact on our current gaming investments.

The current price of a card pre distribution is 1 ETH, and post distribution the price will be around 0.85ETH

If this proposal is voted through, the tiered system will be discontinued, opening up the secondary market for new members to join.

If any of the above is not clear, please reach out to the team so we can walk you through the proposal in more detail.