PIP-103: Award JPEG’d contributors 500,000 USDC to be used at the discretion of the JPEG multisig.

Abstract:

Prior to treasury distribution, 500k USDC will be awarded to JPEG contributors to be used for any reason deemed appropriate by the JPEG’d multisig.

Background:

From the founding of the JPEG’d project, the team worked tirelessly to:

-Create and administer a superior NFT lending product that continuously remained competitive against its peers. -Manage the treasury and grow its value through strategic purchases of ethereum and other assets. -Perform rebalancing and optimization of treasury assets to increase cash flows. -Return net gain in value to JPGD holders. -Successfully navigate and overcome significant challenges that otherwise may have completely derailed the project. -Increase morale and retention among stakeholders through innovative protocol enhancements and incentives. -Strengthen project reputation through consistent community outreach and performance.

For these reasons, prior to the disbursement of treasury assets, 500k USDC will be awarded to JPEG contributors to be used at the discretion of the multisig.

Specification:

Prior to treasury distribution, 500k USDC will be awarded to the JPEG contributors to be used for any reason deemed appropriate by the JPEG’d multisig.