STP-8 : Participate in Turtle DAO seed fundraising with the DAO treasury

Summary: The objective of this proposal is to determine whether or not we will allocate our treasury funds to invest in the Turtle DAO seed round.

Context: Turtle DAO is offering a Smart Money Allocation: 2.5% $TRT allocation for $1 million with 1.5x oversubscription. As part of this allocation, 20% of the $TRT tokens will be unlocked at the Token Generation Event (TGE), followed by a four-month cliff period and the remaining tokens vesting over the course of 12 months. This structured vesting schedule aligns with our agenda of non-exploitative aggregation of assets in the treasury, ensuring long-term value retention and stability.

This investment aims to transition to the 'Eigenlayer of Liquidity.' Post this transition, Turtle DAO anticipates no need for additional outside investment due to its already profitable nature.

The Minimum Viable Product (MVP) launched on March 11th and has achieved an Annual Recurring Revenue (ARR) of $27.5M, accumulating $4M-$5M in the treasury thus far. This indicates a robust and scalable business model. $TRT (Turtle DAO Token) Valuation stands at a $40M Fully Diluted Market Cap (FDV), with a comparable FDV of $30M. Given the asymptotic issuance curve, 70-80% of $TRT supply is unlikely to ever enter circulation, enhancing the value and scarcity of the token.

Key Points:

1. Investment Terms:

• Smart Money Allocation: 2.5% $TRT allocation for $1M
• The investment will support the transition to the 'Eigenlayer of Liquidity,' aiming to eliminate the need for further outside investment.
• There are already over 1.65m in hard commits and another 400k roughly in soft commits

2. Revenue and Treasury:

• MVP launched on March 11th, achieving $25M ARR.
• Accumulated $4M-$5M in the treasury, indicating strong financial health.

3. $TRT Valuation:

• $40M Fully Diluted Market Cap.
• Comparable FDV of $30M.
• 70-80% of $TRT supply is expected to remain out of circulation, increasing scarcity and value.

4. Governance and Income:

• Investment in $TRT allows participation in governance decisions.
• Potential for passive income through platform fees and other revenue streams.

Presentation: Turtle DAO is a decentralized autonomous organization focused on creating a robust liquidity infrastructure. By investing in $TRT, the DAO treasury will gain exposure to an innovative project with a proven revenue model and potential for significant growth. The investment will also enhance our governance capabilities and income potential through fee sharing and other mechanisms.

Documentation and Links:

• Docs: https://docs.turtle.club/
• Whitepaper: https://docs.turtle.club/resources/turtle.club-whitepaper
• Website: https://www.turtledao.com
• Twitter: https://twitter.com/turtledao

Means: We would need to invest voted amount of USDC into it and wait for the transition to be fully realized. Technical Implementation: Future TRT token allocation will be associated with a Treasury multisig.

Voting Options:

• Invest $50k
• Invest $75k
• Invest $100k
• Invest $150k
• Invest $200k
• Against
• Abstain