SIP-00046: Welcome to Shark Island

Purpose

This proposal details the project approved by the DAO via SIP-00039: Shipping Shark PFP.

This includes the expansion of SharkDAO governance into a dual-token model, revised details on release size and raise amount, and capital allocations to continue building and growing the Shark, Nouns and cc0 ecosystems.

Summary

In this proposal we:

• Provide a model for SharkDAO governance to include Shark Island NFTs
• Establish some parameters for the NFT distribution
• Detail plans for the use of revenue from this project

Details

Shark Island

• Supplemental Product Document
• Shark Island is a Nounish PFP and DAO ecosystem project created for SharkDAO by Shark Labs
  • NFTs provide a fun new way to engage in governance and a long awaited PFP for DAO members
  • Island concept creates a new set of narrative possibilities for Nouns and Shark
  • Shark Labs is a collective of builders and contributors within SharkDAO:
    • Sasquatch, nicooo, Goldy, Rayo, numo, Messhup, forager, cdt, driedtoast

Dual Token Governance

• $SHARK and Shark Island NFT's
  • Governance votes will be enabled for both the ERC20 $SHARK and the Shark Island NFT's
    • Weighting: 10k SHARK = 1 Shark Island NFT
      • At suggested mint prices, this is equivalent to selling ~113636 $SHARK per ETH

NFT Allocations

• There will be an open mint period in which mint passes will be available for purchase or free claim
• A significant allocation will be added directly to our treasury
  • Treasury allocation intended for onboarding new contributors and partners to SharkDAO
• ~1000 (1 each) will be distributed to existing SharkDAO members
  • Any unclaimed will be added to the treasury
• ~1000 will be distributed in a tiered structure to community contributors
  • Contributions to SharkDAO or Shark Island
• 470 will be reserved by the SharkDAO team

Finances

• Between .088-.123 price per pass
  • Open Mint will have a discounted price relative to the subsequent ongoing faucet
    • The Open Mint will still require you to be allowlisted to participate
• Planned uses of funds include:
  • Buying Nouns, supporting the cc0 ecosystem, supporting builders in our community
  • Funding a dedicated pipeline supported through tooling infastructure + a team to shipping Nouns DAO proposals
  • DAO treasury funds to facilitate events, community management, cc0 activities, or other governance determined activities.
  • Continued Development of the project
• Royalty - 100% to the DAO treasury
  • starts at 10%, scales down to 2.5%

Our Vision for the Future

• With the launch of Shark Island a cc0 nounish NFT project, we reaffirm our commitment to cc0 and Nouns ecosystem activities and our position as an open and approachable community for builders, collectors and enthusiasts.

Benefits

• Onboarding new members
• Engaging existing members
• Seeding the treasury to continue the DAOs mission
• Creating a framework for subsequent projects and releases
• Expanding the narrative of Shark and Nouns

Risks

• The project doesn't sell out and we don't make a return on our treasury funds.
• The team doesn't deliver on their promises and wastes treasury funds.
• Brand reputation damage to SharkDAO if the project doesn't succeed.
• Existing $SHARK holders are diluted by NFT issuance