PEARL IMPROVEMENT PROPOSAL 001

Treasury Management & Tapioca Commitment

As the Pearl Club collects 5% fees from Pearl Club NFT's OpenSea trading currently, the Pearl Club DAO has (as of writing) amassed 9.14 ETH from 184 ETH in trading volume on Arbitrum, currently observable in the Pearl Club DAO treasury at https://debank.com/profile/0x948577c493f5b80e5e50682c766f7a502cee09f8

We as Pearl Clubbers want to increase our Treasury holdings as much as possible to effectuate the largest contribution possible to Tapioca's LBP (Liquidity Bootstrapping Pool) to increase the Pearl Club's rewards, capture as much value as possible from the 713 aoTAP airdrop distributed to us as PCNFT holders from Tapioca, and also protect the capital captured into our Treasury from potential asset depreciation via the holdings in the Treasury currently being comprised completely in ETH, which currently lays dormant anyway.

Therefore, for PIP-001, I propose we allow the multisig signers (0xRektora & twMatt) on the Pearl Club DAO Treasury to deposit our current 9.14 ETH in current Treasury holdings and future ETH collected into the Pearl Club Treasury into GMX's GLP. The fsGLP will be transferred back to the Treasury, and the ETH rewards will be claimed regularly and similarly transferred back to the Treasury.

Upon the Tapioca LBP going live, all capital captured by the Pearl Club NFT Treasury will be swapped into USDC to contribute to the LBP.

Tapioca Updated Commitment

TapiocaDAO through it's planned monthly reverse LBP, (found here: https://docs.tapioca.xyz/tapioca/the-tapioca-dao/treasury-and-fees) will use 1% of the TAP that is clawed back through this mechanism to lock into twTAP and provide this twTAP to the Pearl Club DAO Treasury. This increases Tapioca's commitment to the Pearl Club DAO from the established 713 aoTAP (at a 50% discount) in owed amounts upon the Tapioca protocols release.