May we prosper in Valha

Dear Chads,

This is the proposal that we have all been waiting for. The algorithm that I was working on will be ready to be deployed. A few months back, the community approved a plan for half of the treasury at the time to be utilized and injected into it. Before the algorithm goes live, I believe that it is important to set expectations so that there are no surprises or disgruntled Chad further down the line. Below you will find the outline and a majority approval of this proposal will constitute an agreement to these terms by the community.

• First and foremost, it is important to be aware that any endeavor with the potential for a great upside usually has the potential for the downside. Some look it at it as a curse, some as a blessing, I think we should consider it to be a fact of life. The algorithm that will be deployed has the ability to multiply holdings within the treasury and 10x, 20x, 30x them, in the same way that it has the potential of decreasing them. There is a possibility that the assets that will be injected into the algorithm, just like in any trade, will be greatly reduced. My current philosophy is this, WSC has fucking existed for two almost two fucking years. Let’s go big or go home. If this works out, then I imagine that many individuals will find interest in WSC and that the community will finally be on the map, which is what I’m hoping with all my heart can be achieved.
• Onto the second order of business. What the fuck is this algorithm about? As I have said previously, I cannot share publicly on this platform what the algorithm is about without divulging the strategy which is implemented by the algorithm. The first thing that I can share is that it is not an algorithm in the traditional sense that most people who might come from traditional finance background would expect. The second fact that I can share is that it is focused on taking advantage on certain new narratives on new blockchains and L2 and L3 protocols. Unfortunately, the stock market and crypto markets can both often be zero sum games, and the revelation of one successful strategy might lead to a plethora of people to adopt said strategy and therefore bring the alpha to zero. As an example, in the earlier days of crypto, some qualified programmers took advantage of international cross-exchange arbitrage opportunities, but as more and more people got involved, these opportunities gradually disappeared, leading us to where we are now. A somewhat efficient market with stable price for assets across different pools. In the same way, reveling this strategy might lead to a number of individuals to mimic it. Worse than that, I also want us to remember the fact that JB, who was an early participant of this project and stole some assets of the treasury, might always be lurking and might take any step that he can in order to ensure that WSC crashes and burns. For this reason too, it is important that we proceed with caution.
• The third point is important to mention. As some might have already inferred from the above paragraph, in the process of injecting the funds into the algorithm, they will become untraceable to the community. Sharing the wallets with the community throughout which the algorithm will be executing itself will give away the algorithm, which, as I’ve said before, is not a possibility. For this reason, I’ve implemented checks and balances so that you degenerates do not think that I simply decided to pocket the money after 2 years. Core members of our community, the ones that are signed on the multisig which holds the treasury funds and counterbalancing me, will be given a list of all the addresses that the algorithm will be using. From the get go. In this way, as the soon as the algorithm will be deployed, they will have full insight into what is happening and you will have the ability to ask them if things are going well, according to plan, etc. Of course, you will all have the ability to ask me but it is important that you know that this remains a possibiity and that there are other core members involved to eliminate the lingering doubt that you may have in your mind.
• The fourth point. What the fuck happens if there is a profit? What happens if invested funds are lost and the strategy ran its course? I’m going to start by first describing the event of a loss vs. the event of a profit. Let’s keep the best for the last.
  • In terms of potential losses:
    • By my calculations, the algorithm that I built is designed in such a way where 10% to 20% of the funds that have been injected may remain if it is not succesful at achieving it’s goal. In case of unexpected market forces, it is possible that the percentage left is greatly reduced.
    • As I’ve said in the third point, too, as soon as the algorithm is deployed, the core members of the community, who are on the multisig, will have the ability to confirm what happened to the funds and confirm that they did not just disappear.
  • In terms of potential gains, two things should be mentioned in terms of the profit split:
    • Throughout a number of conversations, our dear friend @ALPHA suggested that 50% of the revenue that may be generated is distributed to me, which I think would be a satisfactory compensation. The next statement will fill like self-promotion, which I am not sure that I like or is necessary, but when so many have decided to run away from the different communities that they were a part of, including some that have even stolen from us, I have always wanted to remain and turn WSC into the community that I still believe it can become. As a result, I have poured my soul and energy in this algorithm and even more so, across the past two years in WSC and WSC-related matters with no income for 87% of that time. Because of these aforementioned reasons and due to the fact that the code, which is now at about 30,000-40,000+ lines of code and growing, is a very valuable intellectual property that I created, I think that this split is appropriate, which I hope all you can agree with. More importantly, this also leaves ample room for the other half to go back to the treasury and another potential endeavor, which I’ll expand further below.
    • For the remaining 50%, a majority of it should go back to the treasury, which will be a property of the WSC corporation but I want to implement something called a Chad buy back program for part of that half. What this essentially means is that if a certain amount of profit is generated, then Chads will be bought back from community members at a specific rate (50% of mint price, mint price, slightly higher than mint price) which will depend on the level of profit. In the process of buying back a Chad, Chads would be given soulbound Chad NFTs (potentially room to distribute two Chad NFTs, an old one that represents the original Chads and a new one that represents the superhero Chad who fucking finally made it out of the basement?). The soulbound Chad NFT would in turn allow all of you to continue participating in the community. The intention of the buy back for me is to avoid worrying about things such as floor price, which seems to plague all communities, and allow all of us to focus on creating a true community of investors, entrepreneurs, etc. The way that the Chad buy back would be structured would be:
      • If the remaining portion nets $1M or more, Chads will be bought back at 50% of ETH mint price, as of today’s Ethereum price. The rest goes back into the treasury.
      • If the remaining portion nets $2M or more, Chads will be bought back at 100% of ETH mint price, as of today’s Ethereum price. The rest goes back into the treasury.
      • If the remaining portion nets $4M or more, Chads will be bought back at 200% of ETH mint price, as of today’s Ethereum price. The rest goes back into the treasury.
      • The initial approval for the algorithm did not mention a buy back program so I want to underline that the details and trigger points for the buy back program are not final, that it may not ultimately be implemented, and that this proposal is a proposal to validate that I can explore the idea and potential structure of it further. Regardless of whether the buy back program takes place, the remaining funds will be stored back into the treasury.
• Where does this al lead us? The fourth point, which is the ultimate one, and potentially the most important one, answering the question: where is our community going?
  • It is late right now as I am writing this. About 3:30am, but I want to underline that as much as you may not know me, WSC means a lot to me. In a strange way, wearing that gorilla outfit in New York City to entertain all of you led me down one of the craziest paths that I’ve ever been in my life and I don’t want to let that go. I want this to fucking work, and I want to make this work. This algorithm, to me, is the opportunity for the treasury to multiply, which would give me and therefore all of us a lot more flexibility, while also putting the WSC brand on the map. I want WSC to rise, I sometimes dream of all of us meeting in the summer and getting to know each other while sharing laughs and other good things. If this were to be successful, I think my focus, with the focus of the current core members of this community and the others that will surely step up, will be to create a friendly, sincere, and supportive community of investors and entrepreneurs, a place where Chads from around the world can come in, learn, and support each other.

This is my second proposal. May it not be my last, and I promise you one fucking thing, which is that if this fucking works out, I will be taking a personal video of myself as a gorilla wandering the streets of New York City for a full day and will be flying out core members of the WSC community for a fucking steak dinner.

Silvertongue out.