Giza Rebirth - Redistribution:

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We decided to make a new proposal on redistribution. Indeed, we think that there were unfortunately not enough voters (only 10 wallets), which did not allow to represent the Giza community. It was a very unfair situation, so we waited a bit more time for people to wrap their Giza. The proposal is the same, only small modifications done on the RFV.

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The last few weeks have been tough for Giza, the price dropped more than 95% in nearly 2 weeks. Protocol lost interest from outsiders, bonding is nearly dead (no more protocol revenues), and everyone's selling the rebase. The pressure is too harsh on the team, this is not healthy for long term success of Giza.

We ($GIZA holders) have observed how successful ConstitutionDAO has been at organising a redeem option for $PEOPLE token holders, and want to follow a similar path for Giza. We want to be fair to each $GIZA holder, and will handle this carefully to make sure everyone understands their options! Rest assured.

REDISTRIBUTION:

Redeem a fixed DAI value per $GIZA equal to $GIZA risk-free value (risk-free value = treasury owned reserves divided by supply of $GIZA owned by users, more details found in the questions section below)

WHEN WILL THE REDISTRIBUTION HAPPEN?

Once the proposal is passed, we expect a new page will appear on Giza’s dapp called Redistribution.

You will be able to enter the amount of $GIZA tokens you want to swap for a fixed amount of DAI per $GIZA token equal to the $GIZA risk-free value at the moment staking rewards and bonding is paused two days after the proposal is passed. There will be no slippage, and everyone will get the same amount of DAI per $GIZA, regardless of the time the swap is executed.

HOW IS THE RISK-FREE VALUE PER $GIZA CALCULATED?

Risk-free value per $GIZA is calculated by adding all treasury owned assets market value: DAI, DAI from the GIZA-DAI liquidity pool, MIM from the GIZA-MIM liquidity pool.

And dividing this by all user owned $GIZA: calculated by taking the $GIZA total supply, minus the amount of $GIZA owned by the DAO, the team, as well as $GIZA owned by the liquidity pools.

The current RFV per $GIZA is 29.49$ (maths below). You will be eligible to claim 29.49$ per $GIZA during the redistribution event.

GIZA

Total Supply = 261069.42 DAO GIZA = 39453 Team token (vested) = 15315.04 GIZA from DAI-GIZA LP = 44385.99 GIZA from MIM-GIZA LP = 3081.7 User Owned GIZA Supply = 158833.69

TREASURY ASSETS

DAI = $ 3671814.14 DAI in DAI-GIZA LP = $ 947179 MIM IN MIM-GIZA LP = $ 66190 Treasury Assets Value = $ 4685183.14

RFV = Treasury Assets Value / User Owned GIZA Supply

GIZA RFV = $ 29.49741418

Don’t be afraid if RFV goes down slowly, this is due to the huge rebase happening while staking, make sure your Giza are staked so you won’t get diluted (you increase your supply by 1.005%, RFV go down by 1.005%).