CDP8: Raw Pass update and buyback

Co-Author: John Stefanidis

Author: LordOfWar

Publisher: Jhun Salvino

Simple Summary

Buy back Raw Pass NFTs with the fees generated by the RWG protocol since its launch.

Abstract

This proposal aims to utilise a portion of the fees generated by DAO revenue to buy back Raw Pass NFTs before the snapshot and transition to new tokenomics for RWG. The bought-back NFTs will be held by the DAO with the next steps to be voted on by the community.

Motivation

The Raw Pass NFTs have not been able to capture the full value of the developments and growth seen in RWG. The motivation behind this buyback is to redirect a portion of the generated fees to capture the value of Raw Pass NFTs at current market prices.

Specification

Further to the above, the proposal suggests the following updates to the raw passes, beyond the $REAL token claim:

1. Create a buyback schedule for raw passes , to sweep a target of 4,555 passes
2. Change to the pass art and metadata in Q4 , 2024
3. Gambling, and staking bonus multipliers for holding raw passes on the realbet.io casino, and Brawl3rs gaming platform

Rationale

This proposal reflects the DAO’s commitment to its community and returns part of the value accrued by the protocol to its participants.