GDIP - 04 – Revised - Geneticats NFT: Royalty Allocation to Public Goods

Summary: Within the DAO, there was dissatisfaction regarding the wording of GDIP-02. "Resale royalty percentage" was ambiguously defined. DAO members came to a social consensus that there should be a second DAO vote to clarify the difference between "royalty fee percentage" and "percentage of royalties allocated to public goods".

This governance proposal is to determine the "royalty allocation to public goods". We intend to use these funds to provide WGS kits + genome mining vaults to individuals in underprivileged communities where these items would typically be cost-prohibitive. Following the outcome of GDIP-03, the royalty allocation to public goods will be a percentage of the "resale royalty percentage" voted on in GDIP-03.

For example, if the royalty fee is set at 5%, each secondary sale of a Geneticat would require the buyer to pay a 5% royalty fee + 2% OpenSea fee. If the DAO votes for a 100% royalty allocation to public goods. Then GenomesDAO will donate the full 5% royalty fee to public goods.