PIP-43: Airdrop iJPEG to JPEG Index donator

Abstract

Airdrop iJPEG to JPEG Index donators at a 1:1 airdrop per ETH.

Background

The JPEG Index is a basket of NFTs purchased by the JPEG DAO. This PIP would airdrop iJPEG index tokens to the donators who govern, oversee, and administer the NFTs. The JPEG’d DAO would donate back these assets to iJPEG holders, while the assets remain custodied in the JPEG’d DAO multisig.

Specifications

Donators of the JPEG Index would receive an airdrop of iJPEG for each ETH they donated, i.e., 20 ETH donated would receive 20 iJPEG tokens back. The NFTs are no longer owned by the JPEG’d DAO and are instead owned by iJPEG holders with custody by the JPEG’d DAO. Changes to the index, which may include composition of assets or what the assets do would be now governed by iJPEG holders. 10% quorum and simple majority is required for valid governance proposals regarding the JPEG Index via iJPEG holders.