Forum discussion: https://gov.proofofhumanity.id/t/hip-4-sell-ubi-to-finance-the-dao/239

Introduction

The DAO currently owns 4 000 000 UBI. We propose to sell some portion of it through an auction in order to finance its operations.

Proposal

The Kleros Cooperative has expressed interest to buy for 150 000$ of UBI from the DAO. In order to keep the process fair, an auction will be made using gnosis auction which will allow everyone to participate. The auction will last 1 week. Up to 500 000 UBI with a reserve price of 0,00022 ETH/UBI (approx 0.50$ at current rate) will be up for sale.

Justification

The auction is primarily directed at selling UBI to the Kleros cooperative but will allow anyone to participate in order to keep the process fair. The received funds would be useful to pay for the workers of HIP-3 but could be used for any purpose.