Dissolve Art Gobbler Assets into GOOBER.XYZ

List of assets 2/10: 19.68 ETH 0x6761a059eb3881627ad33553dbef81a2ba576dbf 15 WETH 0x6761a059eb3881627ad33553dbef81a2ba576dbf 4.2 ETH in Juicebox held under Adamscochran.eth 308209 Goo: 0x6761a059eb3881627ad33553dbef81a2ba576dbf 19 Art Gobblers 0x6761a059eb3881627ad33553dbef81a2ba576dbf

Summary:

The Gobblers Union has voted to dissolve. On 2/6 38.88 ETH+WETH is liquid and ready to be distributed. This proposal aims to deposit the remaining 282558 Goo and 19 Art Gobblers into a protocol known as “Goober”, front end located at Goober.xyz in exchange for GBR token to be distributed to GOOBLER holders.

“Goober is a yield-optimized farm and liquidity engine for Goo and Gobblers. Goober allows a user to effectively pool their Goo and/or Gobblers with other users, such that they all receive more Goo emissions together than they would on their own, allowing market forces to maintain the optimal ratio of Goo/Gobblers in the pool. A unique flavor of Uniswap V2 and EIP-4626 forms a special purpose AMM with vault-like characteristics and unique minting mechanics. Aside from bonding an ERC20 with an ERC721, Goober diverges from Uni-V2 via its internal bonding maintenance mechanics. The vault can mint new Gobblers when it’s profitable to do so under calculated constraints from the constant product formula and pool reserves, increasing the rate of future Goo emissions whilst continuing to keeping the pool balanced.”

Goober distributes a token that is proportional to its claim on the treasury, known as Goobers or GBR. Following a deposit into the Goober Protocol, The GBR token will be distributed through the Juicebox distribution mechanism along with any ETH contained within the treasury. There is a 2% fee for deposit into the Goober protocol, which was stated they would reimburse 1.8% back to the treasury. Holding in the Goober treasury incurs a 10% performance fee tied to an increase of sqrt(mult*goo). 2 Eth will be withheld for operational gas fees and/or reward for operators of a successful completion of a liquidation. It can be expected that this process can take 2-4 weeks once voted on.

Scope:

The Scope of this document continues until a liquidation process is complete and distributed to gobbler holders. Not all future decisions can be predicted by this document, so any modifications to the plan may be ratified by a formal union demand snapshot vote with 3.5 M vote quorum. Under our current governance structure, this plan assumes that Adam Cochran remains in control of execution and the multisig, any changes are outside of the scope of this proposal. The gobbler’s union has no control over the goober protocol itself or the governance of the GBR token. The valuation of dissolving through GBR token is assumed to be a natural discount to the market, which may not be possible in the first place.

Principles: The guiding principle of this liquidation is by blending into a protocol called Goober. At the time of writing 2/6 they have 22 Gobblers at a multiplier of 185 and 407329 GOO. The Gobbler Union with 19 gobblers has a multiplier of 133, with 283426 Goo. The protocol evaluates entries by the total multiplier goo ratio, which for goober is 2021 as compared to 2131 by the union. A full deposit of our assets may represent a fair dissolution into the protocol, which may be redeemed for Art Gobblers and sold to the open market. There is not a known value for the GBR token at this time, the front end displays a total of 1350 GBR, which would be distributed pro-rata during gobbler redemptions.

From the completion of the transactions, there will be an amount of GBR token along with ETH in the treasury. The ETH and GBR will be distributed via the Juicebox redemption mechanism. Any remaining GBR, or unredeemed ETH after a period of 1 year, following the opening of the redemption period; will be donated to UNICEF Crypto Fund or similar entity.

Procedure:

1. Goo/Gobbler deposit into Goober.xyz Goo must first be withdrawn into an ERC-20 from the ArtGobblers.com website. Then it is deposited into the Goober.xyz interface.

2. The Union will be notified via discord of a final vote on the redemption rate to complete the process of dissolving and cement the valuation of the Union, once the process is completed and funds available to be received. Users will be responsible for their own claim on Juicebox for a period of one year after funds are available for exchange.

References https://goober.xyz/

https://docs.goober.xyz/

https://goober.xyz/litepaper