Proposal 057: Sell 72% of Reidar DAO ApeCoin airdrop to purchase floor MAYC

Proposal: Sell 72% of Reidar DAO ApeCoin airdrop to purchase floor MAYC.

Context: It is widely speculated that the upcoming Otherside metaverse land sale will include airdrops of land to MAYC and BAYC holders. It is further speculated that these parcels of land being airdropped to BAYC and MAYC holders will carry significant price premiums over other Otherside land parcels due to their location within the Otherside and/or other special traits.

Pros: -Has a high likelihood of resulting in an airdrop of a premium Otherside land parcel -Reduces DAO's $APE holdings, which are currently very large relative to overall holdings, without having to reduce exposure to Yuga Labs -Gives the DAO exposure to MAYC, increasing diversification of the DAO's Yuga holdings -Reduces exposure to $APE, which some believe is unlikely to perform well against ETH in the medium to long term

Cons: -Less exposure to $APE, which may perform well against ETH, particularly in the short term if the Otherside land sale is priced in APE, as is highly speculated

Rationale: While $APE has high upside potential, so does MAYC. MAYC has the additional benefits of being denominated in ETH (as opposed to USD), and carrying a high likelihood of resulting in a free premium Otherside land parcel.

Image 1: Slide 74 from leaked Yuga Labs pitch deck, detailing Otherside land airdrop to BAYC/MAYC holders

Image 2: Slide 77 from leaked Yuga Labs pitch deck, revealing special MAYC traits for Otherside land parcels

Math: ReidarDAO was airdropped 10,094 $APE. At the time of writing, $APE is selling at 0.00360632 ETH. A floor MAYC is 26.328 ETH. 26.238/0.00360632 = 7275.56 $APE. 7275.56 / 10,094 = 72%