After the recent operation of selling some of our MAYC/APE, the board believes it has de-risked the DAO's balance sheet and secured plenty of liquidity to build the project over the next months and years, including 1.48k ETH and 1.2m USDC.
The board also believes that our project is significantly undervalued and is proposing an autorization to earmark 100 ETH to buy MCs from the floor. This is not going to be done in one transaction, but at random times, in small batches and only at prices we believe are at a significant discount, in order to avoid front-running. The acquired MCs will be stored in the Gnosis vault and will be non-voting for snapshot purposes. In the medium-term, we intend to use those MCs as part of our marketing strategy, including but not limited to promotional giveaways, collab partnerships, influnecers, raffles and equity deals.
TDLR