Permuation 9 - Wind Down

In light of ongoing discussions and the inability to find a common vision, I am putting forth a proposal for the orderly wind down of Hashes DAO, including the liquidation of the NFT Collection. The primary objective is to ensure a fair and transparent process for all DAO HASH holders.

Overview: ----------------------------------------------------

1. Liquidation of the Collection

Some things are relatively liquid and easy to sell while for others we need the right buyers. For anything with a decently liquid market simply listing at floor or selling into collection offers seems the path of least resistance without losing too much value. For the more illiquid “grail” pieces such as the original Botto we will allow all members to actively field reasonable offers to liquidate them with the decision to accept decided by the multisig. The multisig will discuss incentives to enable successful sellers to be paid for their work.

2. Move all ETH and pending sale assets to a new Multisig

All ETH and NFTs from the current treasury and any outstanding multisigs will be moved to a new four of five multisig composed of community members SyndneyJason, Cooki, Homura, Boink Boink, Short Straddle. All of them have already agreed to be on this multisig.

3. Create a smart contract for eligible hash redemption

After the readily liquid NFTs have been sold then all outstanding ETH would be put into a simple hash redemption contract. This contract would be open for anyone to redeem their hashes at current RFV (In this case 1/818 per hash) for 180 days. After that time period there will be a function that anyone can call that would distribute the remaining eth in the contract pro-rata to people that have redeemed their hash for RFV and officially closing the final chapter of Hashes DAO. Any ETH remaining in the multisig or gained from the sale of the illiquid pieces that was not included in the RFV contract would then be split pro-rata in the same way via multisender.

4. Transfer of Governance/decision making power to the new multisig

If this Permutation is successful then all future decisions regarding anything to do with the DAO and its assets during this wind down will be decided by the governors of the new multisig via simple majority. This is to streamline and simplify both decision making for things overlooked in this proposal and execution of selling NFTs. To reiterate all previously outlined governance policy is now no longer in effect and the DAO is now led by this governing body until its dissolution.

Budget: ---------------------------------------------------- The requested budget is simple and is as follows. All numbers are based on the total eth amount that will be put into the redemption contract.

5% of the treasury to be given to the administrator of this proposal (Homura) for leading and enacting this initiative.

4% Split evenly (1% each to SyndneyJason, Cooki, Boink Boink, Short Straddle) to the other multisig signers as compensation for their time during this extended wind down process.

Up to 2.5% of treasury value to be used in the creation and auditing of the smart contract for distribution. Any unused funds will be put in the RFV contract.

Up to 2% of treasury value to be used at the multisigs discretion for any expenses not foreseen in this proposal. Any unused funds will be put in the RFV contract with an option for up to 1% to remain in the treasury at the multisigs discretion.

Timeline: ----------------------------------------------------

1. Snapshot vote followed by On-Chain Vote (Allowing 24 hours for discussion leading into snapshot vote for X time period and then the on chain vote immediately following)

2. Remaining Funds and NFTs moved to new multisig.

3. Liquid funds transferred to the redemption contract once it is complete and all liquid holdings are settled.

4. During the 6 month claim period we will allow all members to field and attract buyers for the slow moving big ticket items. Incentives for doing so will be decided by the multisig. If they have not been sold after 120 days the multisig will start considering auction options.

5. Following the expiration of the RFV contracts claim window and all NFTs being sold there will be a final distribution of all eth still held in the treasury to RFV claimants pro-rata. This will signal the successful wind down of Hash DAO.

Assets: ----------------------------------------------------

Main NFT Multisig: https://etherscan.io/address/0xf2928B732E533592501b0C73B4bDa8E8A5621604

PERM 8 Multisig: https://etherscan.io/address/0x47528602935c63fE0986f016AF8af315D47B41FD

PERM 8 Hot Wallet: https://etherscan.io/address/0x391b4a553551606bbd1cdee08a0fa31f8548f3dc

Main Hash DAO Contract: https://etherscan.io/address/0xbD3Af18e0b7ebB30d49B253Ab00788b92604552C

Hash Developer Multisig: https://etherscan.io/address/0xaf5e016B0f00d644A36e5a4cBC0c8f2e615480cd

Main Hash DAO Contract: 529.179 ETH PERM 8 Hot Wallet: 2.327 ETH PERM 8 Multisig: 7.097 ETH Hash Developer Multisig: 4.376 Main NFT Multisig: Floor offers for liquid collections totaling 11.7251 ETH. Potentially 40+ ETH in the non liquid holdings.

Projected Hash Redemption Value: ----------------------------------------------------

490.913 liquid ETH assuming 2% of the optional budget isn’t used. (Likely more will not be used)

1000 Hashes - (100 Dex labs hashes + 15 deactivated hashes + 67 bought back hashes) = 818

Assuming there are 818 eligible hashes then 490.913/818 = 0.600 ETH per Hash.

With this value rising as liquidation of the non liquid NFTs happens and addresses with dead hashes do not claim.

An example if 100 hashes do not claim at the end of the claim period then 490.913/718 = 0.683 ETH per Hash.

Hopefully this proposal and subsequent process is a relief to both active and inactive community members alike and the experiment that was Hash DAO can come to an amenable close.

Thank you to everyone for your time.