SDGP-002 NFT swap

This is a Governance Proposal and has a Quorum to Pass of 250,000 $SQUIG and a Minimum Participation of 10 voters.

Launching new membership token swap

When SquiggleDAO launched in 2021, our vision was to create a vibrant community that collected and celebrated what we believed would be a very important piece of art history. At the heart of this community is our governance token. It is through our token that our creativity, participation and effort align. But a community token needs to do a lot more than that. It needs to be a manifestation of our vision; a token that members are proud to own and make them feel connected to each other. An ERC-20 simply cannot accomplish that, so we proposed that the DAO converted to an NFT as its primary token which passed.

Currently to join the DAO, it’s very complicated buying an ERC-20 token on a DEX sold by other members. By having an ERC-721 token with art, it is much easier to onboard new members to the community.

There will be no sale by the DAO and no new tokens issued into the supply. Only current members holding at least 1000 SQUIG tokens can swap to the NFT membership card called the SquiggleDAO NFT. The swap will have a ratio of 1000:1 (SQUIG: SquiggleDAO NFT). The ERC-20 token will be depreciated as our governance token and migrate existing SQUIG token rights to the NFT.

Pursuant to SDIP-35 and SDIP-37, this is a proposal to:

• implement SDIP-35 in full;
• mint the membership NFTs (the Tokens) through Squiggle Corp.;
• approve the distribution of the Tokens pursuant to the allocation plan;

By voting yes to this proposal, you are approving all of the above steps and such ancillary transactions as may be required to give effect to this proposal, set out in more detail below.

Full proposal here: (too long for snapshot)

https://docs.google.com/document/d/10Ptjba9wbzOH4__OAeBtefEer47HSZOG/edit?usp=sharing&ouid=113216267516765562227&rtpof=true&sd=true