Purchase and Stake $FEY

Summary

This proposal seeks to allocate 5 stETH from the Wizards DAO treasury to purchase and stake $FEY, the native token of Fey Protocol, a new permissionless, community-owned token launchpad created by Wiz, the original developer behind Wizards DAO.

Fey represents a first-of-its-kind launchpad model where 100% of protocol revenue is distributed back to token stakers through a fully onchain, permissionless mechanism. By staking FEY, Wizards DAO would gain direct exposure to one of the most profitable onchain business models, token launches, while supporting a project built by one of our own community members.

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Why FEY Matters

• Massive Proven Market: Since 2023, token launchpads like Pump.fun have collectively generated ~$1B in revenue, making them among the most lucrative onchain applications.
• Community Ownership: Unlike every existing launchpad, Fey routes all protocol fees to stakers. There is no centralized company, VC ownership, or discretionary buyback.
• Aligned Incentives: Every participant benefits directly from the network’s activity.
• Permissionless Infrastructure: Fey’s core mechanism is fully onchain and callable by anyone, ensuring true decentralization and long-term sustainability.

As usage grows, trading volume on FEY and launched tokens generates continuous buy pressure on $FEY, creating a compounding rewards loop for stakers.

Strategic Value for Wizards DAO

• Early Positioning: As Fey launches on Base, being among the earliest stakers positions Wizards DAO as a long-term participant in a protocol that could become foundational infrastructure for token creation.
• Revenue Exposure: Staked FEY earns WETH buybacks in real time, providing ongoing yield tied directly to protocol activity rather than speculative emissions.
• Ecosystem Synergy: Supporting a product built by Wiz strengthens Wizards DAO’s alignment with its own builder community and showcases our commitment to decentralization and creator ownership.
• Governance and Influence: Early participation gives Wizards DAO a credible voice in shaping community direction, integrations, and future expansions of the Fey ecosystem.

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Proposed Action

• Funding: 5 stETH
• Action: Purchase $FEY and stake the tokens in the official Fey staking contract
• Custody: Managed by a multisig controlled by DAO members Satori, Wiz and Benbodhi.
• Note: Once funds are deposited to the multisig, we will bridge to Base but maintain the balance in the same multisig, where xFEY will be held on behalf of the DAO.

Conclusion

Fey embodies the original crypto ethos: permissionless access, community ownership, and transparent economics. By becoming an early staker, Wizards DAO can both support innovation from within its community and gain exposure to a revenue-generating onchain protocol built on Base.

Transactions

• 5 ETH to 0xeA2BA25E59f84e87B50d3231077E777BD6879589 (wizzies.eth)