Mad Bucks Voting

The MAD Bucks is a long-term utility token launched in March, which forms the foundation of Mad Meerkat NFT Ecosystem. It allows users to transact to purchase the goods and services that they desire in the NFT ecosystem that we are building.

Read more about it here: https://mmfinance.gitbook.io/mad-bucks/

Problem Statement Mad Sacks Season 1 Mint was launched to enable holders to purchase their desired equipment. The initial decision was to burn 100% of the $MAD raised. However, during the mint, the team has realised that there is potential of creating more value from some of the $MAD raised, with newfound strong ideas and new angles to take existing discussions with partners to another level to utilise the token. While the full list of ideas will not be shared to prevent blind speculation, we understand the need to give concrete examples for users to visualise what transpired during these sessions. One such possible new use case is the creation of an AFK staking game (expanded roadmap) where a combination of MM NFTs and MMEs will be utilized to create a statistical game where stronger Kats earn more MAD. This in and by itself promotes the accumulation and buying of more MAD and MME.

A key point to note is that if none of the ideas pan out eventually, the remaining $MAD would still be burn. The team would not be executing any sell pressure on $MAD obtained from MME minting.

However, the team also realized that the communication of the change should have been better, and while everyone is interested wants to do their best to make every initiative succeed, a vote should have been called with the respective stakeholders to make this decision.

The purpose of this vote, is to decide between two options: (1) To continue with the burn of the remaining 50% $MAD raised from Mad Sacks Mint Season 1 as per normal, or (2) To allow the team to hold the $MAD to execute these further use cases.

This vote will be for $MAD token hodlers only, as these are the direct stakeholders. The team will not be casting our vote.

Why should you vote YES? A burn action itself does not cause a change in price. A change in price is only affected when there is a shift in demand and/or supply, or perceived changes in demand and/or supply. However, there are scenarios where you should vote yes.

• If you invested in the token expecting the full burn announcement to come, hence speculating that the price will rise after the announcement.
• If you are unsure of the demand of the use cases in the future and would prefer to burn them, since the team will take time before announcing them in detail.
• If you do value this burn more so than the addition of a new utility

Why should you vote NO?

• If you would like to have more circulating tokens in supply to enable you to purchase them to partake in our expanding use cases
• If you feel the introduction of new utilities will outweigh the value of this burn

The eventual choice will be the option with 50.1% or more votes.

Once again, we thank you for the continuous support, and for listening, understanding and communicating respectfully with the team. We will support the final decision to be made by the community, and will also push forward with these expanding use cases regardless. At the end of the day, there's no right or wrong answer, but it's really about trade-offs and what the community values. We as the MM team seek to execute what the collective community believes is the best direction to take for the project.

We look forward to building this journey along with you. #MAD4LIFE