PIP-40: Launch The JPEG Index

Abstract Launch the JPEG Index, a basket of NFTs.

Background Following the first JPEG Index PIP and the community's response, an informal vote has been made to determine the composition of the JPEG Index. This PIP will constitute a formal vote to launch the index with the composition specified below:

1 CryptoPunk 1 BAYC 1 Ringer 1 Fidenza 1 Squiggle

The index would represent the NFTs the JPEG'd community would like to own. A donation from users (in ETH) would be used to purchase the NFTs. The assets would be custodied by the JPEG'd DAO (a decentralized entity). There is no expectation of profits, and launching the JPEG Index does not constitute a sale, or investment contract.

Specifications The donation event will run for 3 days, JPEG Card holders are whitelisted to donate for the first 24 hours, after which the public is allowed to donated for the remaining 48 hours.

The donation is capped at 350 ETH. The JPEG'd DAO will donate 70 ETH from treasury. The max donation per wallet is 30 ETH.

Any excess ETH after purchasing the NFTS would remain in the index to potentially purchase additional NFTs at a later date. There is no token associated with this donation, and it is a voluntary donation with no expectation of profits.