the final countdown

Summary

It is proposed to dissolve the LandDAO entity and distribute remaining treasury funds to all existing LAND holders, after which the DAO will officially shutdown, and all remaining LAND become a valueless NFT on the Ethereum Mainnet.

Abstract

The LandDAO project has been in a state of limbo for some time now, as it is waiting for the Pirex token launch in order to take advantage of a seed entry per LAND token held for each member.

However, after this successful temperature check, it is now proposed to distribute remaining treasury funds of the LandDAO multisig to all holders of LAND prior to this event in order to allow participants more flexibility in how they’d like to utilize the remaining treasury funds based on their own personal preference.

Specification

In order to facilitate the dissolution of the remaining treasury, the LandDAO multisig will take a Snapshot of all LAND held by each address after the resolution of this proposal on Snapshot, and then begin distributing a proportional claim of all remaining ETH in the multisig to holders of LAND, withholding a small portion of ETH to cover gas costs for transaction execution.

Blacklisted and burned LAND will be excluded from this Snapshot, and those ETH distributed proportionally to all other LAND owners instead.

LAND holders will then have the option to leave with their airdropped ETH, and later use those ETH in order to claim their proportional seed round claim from Pirex once their token officially launches.

This ensures maximum flexibility for all members of the DAO, and gives the option to exit with the individual claim without any further commitments. Please note that any unclaimed proportional claim from LandDAO members on the Pirex round does not entitle other interested members to take this portion as their own.

After the airdrop has concluded, an announcement will be made in the official LandDAO Discord Server highlighting the airdrop and confirming the successful dissolution of LandDAO. At this stage, there will be no more claims on support from Moderators and Staff, any smart contracts will continue to function, but are to be used at your own risk, and any other remaining perks or utility surrounding LandDAO will cease.