Week 4 Fundraising Update and T3 purchase proposal

SAIA Dao
#1

I have just finished auditing the dao bank, and I am proud to announce that we have raised a total of $58.436!

Discord members: 450
Dao active members: 94

Dao Bank: $20,445 (processed proposals)
Voting proposals: $25,701
Grace: $1000
Queue: $130
Solana wallet: $9606
Gnosis vault: $1554

Given that we’ve only had two $10,000 contributions for week three, I am proposing that we continue with the $10k cap for week 4, while dropping the share bonus to 3x as planned. I
floated this on Discord yesterday and there were no objections.

Right now, my main priority is to get the multisig Solana wallet setup. Right now I’m the sole wallet owner, which is a huge liability for everyone involved, and a prerequisite for purchasing the posters on Solana. If anyone is familiar with Solana’s CLI or willing to learn, please DM me on Discord to coordinate on testing.

Also, since the dao has been so successful in fundraising, I would like to go ahead and get a temperature check toward a proposal to purchase the posters to the Tier 3 rewards level. We’re talking about a total of $16,320, or about 28% of the dao bank. We’ve got $8460 in the Gnosis and Solana wallets, so we would only need a funding proposal for $5876 out of the dao bank (wxDAI -> xDAI -> DAI -> USDC ERC20 -> USDC SRM) to be able to purchase the posters on the Serum market. OpenSea can be used as a fallback if we can’t come through with multisig.

T1 and T2 posters can be sourced from dao members or the secondary market, and we should probably go ahead and start discussion about how we want to do this. I myself have extras of the T1 posters, and I know others do as well, and we need to figure out how we want to reimburse them, whether that will be at original sale value, current market value, or some in-between. Feel free to discuss, but I assume that will need to be a separate voting proposal. Personally, I think we should start with contributions of all the DOI posters that people want to send as tribute, which we can either flip or hold for members. From there I would also assume we can allow an equal or lesser number of HOSA and TCW posters (as pairs) to make sure that we always have a greater number of T1 sets than we do T2. Tributes could be in the form of shares only, with perhaps a slight bonus for Solana posters to make up for the gas costs for when we need to wormhole them. TBD, I haven’t fleshed all this out yet, but again, just want to start the conversation.

I am very pleased with the progress the dao has made. We’re growing every day, and I’m confident that we’ll be able to continue to grow and reach our goals. by July.

Glory to the IA!
BCM | Dao Launch Control

3 Likes
#2

I agree with purchasing the posters leading up to T3.

#3

Great work, I agree with T3

#4

I think you’re on the right track, thank you!

If you need any marketing/management help, thats my thing, so feel free to reach out.

Discord: SayWhenCrypto (Doc H)#1020

#5

My opinion is, what do we expect to get from Tier 3?

If we are expecting the reward, according to the description, the Tier 3 reward vs. cost is $11,568 to $16,320. Apparently, it is not a bargain deal.

Most of us are also in the crypto market, I think what really matters us would be the mining claim package.

The Tier 3 mining claim package is:
18x Claim Stake - Tier 4 / 18x Mining Station Power Plant - Tier 1 / 18x Mining Drill - Tier 1 / 6x Orbital Space Station - Tier 1

So if we could get all these equipments in the latter stage with paying less than $16,320, we should take this into consideration.

#6

I think Wagner has more than hinted that they will try do their best to make the posters worth the investment. They just don’t know yet in which form. They are not committing to anything but I personally believe that poster will be eligible for drops for a long time after launch.

Just another thing to consider. I have bought extras from poster 1-5 so far and I will be willing to sell those to the DAO at cost but only as bundle - I will not sell singles.

Jakstar