Merge MijaniDAO with APDAO

Following the announcement in the official MijaniDAO discord channel on the 4th of January, the contributors leading MijaniDAO has been in negotiations with Jani and the HoneyJar team regarding a merge and acquisition deal between MijaniDAO and APDAO (previously known as THJDAO).

TL;DR of the deal:

1. MijaniDAO will transfer treasury assets in return for seats in the APDAO at a discount, $MIJANI holders will not be required to pay any extra ETH for minting future HJ gens.

2. If this vote passes, no MijaniDAO members will be forced to convert their $MIJANI tokens to APDAO seats. There will be an option to ragequit and redeem some or all $MIJANI tokens for treasury assets of equal value, within a strict time window prior to the conversion. All remaining $MIJANI tokens after that window closes will be acquired by APDAO and $MIJANI tokenholders will receive their pro rata share of APDAO seats.

3. If a $MIJANI holder does not have enough tokens to convert to 1 full seat they can deposit more HC/HJ/ETH, otherwise they can go in the ragequit queue, if you convert your holding to seat and still have remaining fractional $MIJANI, you will be compensated in ETH as we will liquidate some assets to deal with all the fractional $MIJANI holdings, this type of distribution will likely happen on Arbitrum due to gas fees costs.

4. The terms of the deal, at the time of writing, stand at ~2.3 $MIJANI per 1 seat, in the APDAO, in general, the way to join APDAO is to deposit 1 hc + 6 HJ one of each gen, which will cost more eth to mint, and this deal makes it easier & cheaper for mijanis to join APDAO than anyone else.

5. The valuation and deal below includes a fair markup representing the chance that Mijani has the fermented jars, as well includes future HJ airdrops.

Deal sheet summary below, please keep in mind these are not the final numbers , they might change based on market conditions.

https://docs.google.com/spreadsheets/d/1UuijLxaucqfHyZMOVVsmmMbJCiKFNKHsraEg7D1JUhQ/edit

• What happens if the proposal does not pass?

MijaniDAO will continue it's operations as usual

• What happens if the proposal does pass?

Bera Pope, Jani 69, and jnova da nikki mijani bera will be delegated the responsibility to determine next steps, which will include announcements and timelines for halting deposits, defining the ragequit process, negotiating the final numbers of $MIAJNI to seat conversion cost, and distributing the APDAO seats to Mijani members.

Vote, cause Mijani does not wait for the bus!