SIG-002 SIGIL IDO

This proposal seeks to establish authorization for an IDO by conducting a standard ERC-20 presale on the $SIGIL token (already established via TGE with initial distribution; see SIG-000).

Purpose

The purpose of this presale would be to establish a LP on Uniswapv2 for the purpose of furthering the goals of the Sigil DAO (see founding document SIG-000). By proxy, this also establishes the authority to distribute equity in the DAO and grants this authority to the treasury of the DAO as a whole and all signers. This unlocks a number of important aspects of the DAO:

1. Equitable shares unlocks stakeholder alignment and allows us to empower the DAO to further its stated goals.
2. Liquidity allows the DAO to cover operating costs and will be used toward licensure of the Foundation, establishing a constitution, and furthering protocols and rewards for all stakeholders.
3. Tooling unlocks: By providing LP tokens Sigil will be able to provide advanced staking contracts to further align incentives with later stakeholders that missed IDO/TGE.

IDO Tokenomic Structure

The presale structure would consist of the following:

• The IDO would be listed at a rate of 1 ETH : 1000 SIGIL with a 75 ETH soft cap and 150 ETH hard cap. Unsold tokens will be reclaimed by the DAO.
• No contribution minimums or maximums (open contribution)
• Public DEX listing with LP provided through UniswapV2 AMM
• Presale would run for a total of 30 days from time of launch
• 3 day token lock after sale with claim required
• 70% of proceeds will be sent to the LP
• 30% will be sent to the DAO treasury
• LP listing will be pegged at 1 ETH : 10 SIGIL
• IDO would launch within 60 days of passing this proposal (soft launch date, subject to change in accordance with the decisions of the Core)

Scope of Authorization

This proposal would authorize the DAO to take the following actions:

• Allocate a total maximum of 150,000 SIGIL for the purpose of distribution from the DAO treasury located at sigilconsulting.eth
• Allocate 70% of the proceeds to a UniswapV2 LP
• Instruct the Founders to establish the Sigil Consulting Foundation using the additional 30% of the treasury proceeds.

Additionally, an IDO carries with it the weight of responsibility and Sigil Consulting DAO recognizes this fact. The following actions will also be taken should this proposal pass:

• The Founders shall immediately begin work on a long term Constitution for the DAO that incorporates a governance model to align future stakeholders. This Constitution shall be written and voted on by the DAO Core.
• As an interim, this proposal establishes a Sigil Stewardship Guild (SSG) that will act as a point of contact for all SIGIL holders and a liaison between the Core and other members. Stewards will be responsible for disclosing tokenomics models to the broader community. The SSG will be a temporary measure and will be renewed by vote every 90 days or else expire. Each vote for extension may also include funding requests for SSG specific projects and needs.
• This proposal also establishes precedent for enacting a PoL program at a later date for liquidity recapture by the protocol while still incentivizing our longest holders.