Random Panda Club Mint Fee Refund Proposal

From the creation of PandaDAO to now, some people learn from our governance model, multi-signing scheme, treasury management, etc. And the community has more or less influenced the whole industry. the Core team hopes that the RPC project will have some positive impact on this industry and push the whole industry to work together to protect the funds of NFT players. Indeed, community revenue is very important, but if we can't protect the participants of the project, any Roadmap is just a loft in the air. We would rather see RPC grow in the long run than thinking about the immediate benefits.

Therefore, we hereby release a proposal that, in addition to the blue chip purchase funds and the real pandas adoption fees, PandaDAO will exclude all NFT mint fees as community income and use them for permanent buyback (which can also be called a permanent refund program).

Based on the design of ERC721P, the RPC NFT can be directly converted to a minimum of $50,000 PANDA. the previous community buyback proposal was for 50% of the total community revenue, but this proposal will use approximately 90% of the mint fees as a buyback process and not charge them to community revenue.

Mint fee processing process.

1. At the end of Mint, the community will convert 90% of ETH into stablecoins. The remaining 10% ETH will be purchased for various blue chip NFTs, such as Bayc, Punks, Azuki, etc. and added to the ERC721P 2.0 liquidity pool from which RPC holders have a chance to redeem these blue chip NFTs. 2.

2. In this 90% stablecoin, the community will spend $150,000-$200,000 to permanently adopt a real panda, and the community has the title rights to the panda. Each year, the community can randomly select a few people from RPC holders to get up close and personal with our adopted pandas. If the adoption fails, we will return the funds to the buy-back contract. 3.

3. Excluding the adoption fee, the community will deposit all stable coins into curve and other mining pool pledges, which will be hosted by the community treasury. Whenever the stablecoin in the repurchase contract is less than $30,000, the community multi-signer will credit the stablecoin into the repurchase contract to ensure that there is enough stablecoin in the contract for everyone to exit freely. Since a large amount of stablecoin is in pledged status and can be withdrawn at any time, the community will also generate some staking revenue to cover the previous development costs of the RPC project.

Refund process for RPC holders.

1. RPC holders can exchange the anchored $PANDA based on the ERC721P protocol.

2. $PANDA will be exchanged for stablecoin assets such as DAI through a community buyback agreement.

Although this proposal will reduce the community's revenue and disposable funds, in the long run, the community will generate a lot of staking revenue and protect all project participants so that the RPC project can run for a long time, thus giving birth to various cultures, features, empowerment, etc.

Reference.

1. PandaDAO Treasury Funds Risk Management: https://snapshot.org/#/panda-dao.eth/proposal/ 0xc71b28386adadd182a5714c0a65822c743660df1ddb8b76e2c66e99201039b37
2. ERC721P operating principle: https://pandadao.medium.com/erc721p-jingzhe-code-is-law-8347c5b42748

---

PandaDAO从创建到现在，一些同行学习我们的治理模型，多签方案，国库管理等，而社区对整个行业或多或少有一些影响。Core团队希望RPC项目对这个行业产生一些积极的影响，推动整个行业共同保障NFT玩家的资金安全。的确，社区的营收非常重要，但是如果我们不能保护好项目的参与者，任何Roadmap都是空中阁楼。我们更希望RPC能长远的发展下去，而不是惦记这眼前的利益。

因此，我们在此发布提案，除了蓝筹购买资金和真实的大熊猫认养费用，PandaDAO将把所有NFT mint费用不记作社区收入，用作永久性回购（也可以称为永久性退款方案）。

基于ERC721P的设计，RPC NFT可以直接转换为最低 50,000 $PANDA。之前社区的回购提案是社区总收入的50%，但是该提案希望将大约90%的mint费用用作回购程序，不记作社区收入。

Mint费用处理流程：

1. 在Mint结束后，社区会将90%ETH兑换成稳定币。剩余10% ETH 将会购买各类蓝筹NFT，比如Bayc，Punks，Azuki等，并且加入ERC721P 2.0 流动性池子，RPC持有者有几率从流动性池子中兑换出这些蓝筹NFT。

2. 在这90%的稳定币中，社区将会花费15万-20万美金永久认养一只真正的大熊猫，并且社区对大熊猫具有冠名权。每年，社区可以从RPC持有者中随机抽取数人，近距离接触我们认养的大熊猫。如果认养失败，我们将会把这部分资金返回至回购合约内。

3. 排除认养费用，社区将会把所有稳定币存入curve等矿池质押，由社区大国库进行托管。每当回购合约内的稳定币少于3万美金，社区多签人会将稳定币打入回购合约内，确保合约内有充足的稳定币可以让每个人自由退出。由于大量的稳定币处于质押状态，并且随时可以提取，社区也将会产生一些staking收益，弥补RPC项目之前的开发成本。

RPC持有者退款流程：

1. RPC持有者可以基于ERC721P协议，兑换出锚定的$PANDA。

2. 将$PANDA通过社区回购协议，兑换成DAI等稳定币资产。

虽然该提案会降低社区的营收以及可支配资金，但是从长远来看，社区将会产生大量的staking 收益，并且保护好所有项目参与者，使得RPC项目可以长久的运行下去，从而诞生出各种各样的文化，特性，赋能等。

参考：

1. PandaDAO国库资金风控管理: https://snapshot.org/#/panda-dao.eth/proposal/0xc71b28386adadd182a5714c0a65822c743660df1ddb8b76e2c66e99201039b37
2. ERC721P运行原理：https://pandadao.medium.com/erc721p-jingzhe-code-is-law-8347c5b42748