Staking Ethereum Proposal

Overview

The Purpose of this proposal is to put our Ethereum in the treasury to work and generate passive income rather than having it sit in the treasury not accruing any interest.

Goals

The main goal is to put the Eth not being used to work and passively increase our Eth balance as the price goes up over time. This is a very low risk method of generating income for our project especially since there is no mandatory lockup period for the Eth that we stake through Lido + Ethereum’s upside potential.

FrankenDAO Benefits

1.) Passively generate income and build our Eth balance as a DAO (3.9% APR when staking through Lido) 2.) Ensures that a certain portion of treasury funds are secure and generate some kind of income for the DAO which in turn will ensure we have funds in the future to proceed with the project. 3.) Major goal of this proposal is to stake and earn going into the next Bull Run which a lot of people are expecting to be huge.

Timeline

-This proposal can go into effect immediately after it goes through the entire proposal process -Minimum lockup period of 6 months before we can unstake the initial investment -Can withdraw any revenue generated from staking at any time for DAO giveaways and events if desired but the initial 35 eth investment must remain staked for 6 months after the time of staking.

Execution plan

1.) Initial investment of 35 Ethereum with a minimum staking period of 6 months 2.) 35 Eth investment will be staked through Lido on a Gnosis Safe Off-Chain Treasury and that safe will be managed by 4 representatives (Cess (Founder), Chapta (Head Alpha Mod), GhostOfHarvard (DAO Council and community representative), and myself (CC_Riders/Head Alpha Mod) 3.) 2/4 signatures will be required to execute any transactions through the Gnosis Safe and the Safe address will be posted once the Ethereum is staked for community tracking purposes and transparency.

Budget and fund utilization

-35 Ethereum sent to Gnosis Safe (0xb7cCB0Ee5C06562282048F95e27C73b148Dcb6d2) and will immediately be staked through Lido. Though we can unstake at any time technically, I propose we at least lockup the 35 eth for a minimum of 6 months (Until at least January of 2024)

What areas of the community does this touch?

FrankenPunks, FrankenDAO

Proposed transactions

Transaction #1

FrankenDAO sends 35 $ETH to 0xb7cCB0Ee5C06562282048F95e27C73b148Dcb6d2