Enchantment: Soul Allocation for Exchange Listings

Proposal Submitted: Snapshot

Snapshot Block: 21356000

Purpose and Motivation

Purpose

The purpose of this proposal is to allocate 750,000 SOUL from the DAO Treasury for the purposes of discretionary spending, namely for the ability to provide listing requirements by exchanges in order to fulfill either liquidity or incentives requests.

Motivation

The motivation for this proposal is we want to streamline and implement a mechanism that enable us to do so without relying on a proposal, especially as some listings require finalization and some level of confidentiality until the deal is finalized and released. We do not want to trivialize such an agreement by publicly requesting the community to back a proposal in such cases and it also makes negotiations a bit more difficult as we have less leverage without knowing what budget we have to work with.

Design and Implementation

Design

Based off requests makes by interested parties, we anticipate an immediate need of roughly **$100,000 worth of SOUL** to get us listed by interested parties.

We currently have roughly 1,600,000 SOUL in the DAO Treasury**, which amounts to requesting just under 1/2 of our treasury’s existing reserves.

In order to add a level of reassurance, we would like to amend this statement by guaranteeing ZERO funds will EVER be used for the purpose of selling SOUL in order to acquire the underlying value (FTM, USDC, etc). If the case so arises that FTM is needed to list, we will simply wait for the Fantom Grant to fulfill said requirement or use our personal funds, whichever is most convenient.

The reason for this is we want to ensure these funds are solely used as incentives for the purpose of airdrops, and other community incentives and never for the purpose of depriving our exchange of the underlying FTM reserves, which are vital to our ecosystem.

Implementation

In order to execute this proposal, in the event that is passes, we would do as follows:

  1. Create a multi-sig composed of cofounders DeGatchi and 0xBuns, along with Community Director Unknown and/or Administrative Director JW.

  2. Set the multi-sig to require majority vote by signatories in order to allocate said funds at any given moment.

  3. Send 750,000 SOUL from the Treasury to our designated multi-sig.

  4. Announce the address and transaction of 750K on our social media accounts in order to assure public-accountability.


Please use this topic to discuss your thoughts and opinions, thanks!


Warm Regards,
Buns the Enchantress


Snapshot Block: 21356000

Voting Here: Snapshot