WSC Phase 1 - Treasury Restructure

As everyone knows, we have held our treasury in ETH since the founding of WSC. WSC was created when the NFT market was booming in the back third of the last crypto bull run. Had WSC been created on the front end of the bull run, there would have been some crazy gains for the community to propose and reep the rewards. Unfortunately, time was not on our side as we were in the decline stage, and not pre-massive growth.

We have endured over a year and a half of market duldrums, and have witnessed the devaluing of ETH against other coins, most notably BTC and SOL. In addition, the NFT market space has significantly swung to SOL and Ordinals (BTC)... this is the new frontier of growth for NFTs. We are now, at the very beginning stages of the next crypto bull run. BTC ETF approval projections are abundant in the news, but the next proven major catalyst is the next BTC halving which is set to take place in April of 2024.

Now is the time to restructure our treasury. This proposal is simple. Convert our entire treasury based in ETH, into two treasury wallets with the same multi sig protections we have today. 75% to be converted into Solana (SOL), and 25% into Bitcoin (BTC). In addition, the SOL will stay in a staked form, earning an additional ~5% APR of SOL tokens to be added to the treasury. Given the quick turnaround to unstake (2.5-3 days), liquidity for investment proposals will still be present.

With this new structure, we will be well positioned for all of our WSC community to make investment proposals in the SOL and BTC (Ordinal) network, which is where all the gigantic growth opportunities will come, similar to how ETH NFTs went wild during the last bull run, the crazy growth in the next bull run will come in the form of SOL, BTC, and Ordinals. Additionally, the market cap of SOL and BTC will continue to improve over ETH.

Things to think about… launching a WSC collection on the SOL network, or as an Ordinal, or both. In the end, the options are abundant by having treasury funds available in the top 2 crypto currencies of the future. Imagine making a proposal to buy a BAYC on ETH when it first came to market… those opportunities are ever present today in the SOL and Ordinal market. Folks with great proposals can make a ton by advising the community and getting approval to invest in great growing projects, and leading us to owning the future blue chips.

In summary (and what you’re voting on today): convert ETH to 75% SOL and 25% BTC, maintaining multi-sig protections the community has today, and staking the SOL we own in the treasury.

From here, we can open up the floor for individual investments and proposals on these chains. And last, sit back and enjoy the natural rise in value of these two coins during the next bull run which is imminent. Welcome back from your basements boys, time to get this ship in position to dominate and take advantage of the market that is coming!