SIP-4: LBP NFT Proposal (SIP-1 Redux)

Summary

This proposal creates additional utility for the Galxe NFT that was mintable for participating in the Savvy Fjord Foundry Liquidity Bootstrapping Pool (LBP 8/8/23-8/11/23). The proposal from the community for the NFT (https://galxe.com/Savvy/campaign/GCUwzUjcFN) is to create a time-locked reward for the holders.

Detail

The holders of the LBP NFT will receive a Hedgey Finance NFT Airdrop with 200 SVY tokens time-locked for two years. NFTs minted before the finalization of this snapshot vote will be eligible for this airdrop.

NB: Language like "the finalization of this snapshot vote" refers to SIP-1; the original eligibility period is unchanged. NFTs minted during SIP-1 voting are valid. SIP-4 does not re-open the window of eligibility for minting LBP NFTs.

Background

NFT Holders will receive an Airdrop with a Hedgey Finance NFT. This NFT will contain 200 SVY with a linear vesting schedule of 24 months. The holder of the NFT can claim SVY as the linear unlock schedule permits them, as a thank you to the earliest participants. As the first SIP, this proposal is designed to create a low barrier to entry for governance in the Savvy DAO.

There are currently fewer than 120 holders of the Galxe NFT, and no more eligible NFTs can be minted after this vote concludes. These Galxe NFT holders will receive a Hedgey Finance NFT Airdrop. The Hedgey Finance NFT will contain 200 SVY tokens, which will be time-locked for two years. The SVY tokens will have a linear vesting schedule spread over 24 months. NFT holders can claim SVY tokens following this linear unlock schedule. This proposal is intended to thank and reward early participants in the Savvy DAO. This proposal serves as the first SIP (Savvy DAO Improvement Proposal) and aims to make it easier for individuals to participate in the governance of the Savvy DAO.

This proposal suggests incentivizing early Galxe NFT holders by giving them a time-locked airdrop of 200 SVY tokens through a Hedgey Finance NFT. This proposal aims to engage the community in Savvy DAO governance by offering rewards to those who participated in the LBP.

Proposed Implementation

If approved, the treasury multisig will create, fill, and deploy Hedgey NFTs. This aligns and rewards the earliest participants in Savvy.