SDIP-2 Allocate $SQUIG for SquiggleDAO Contribution Round 2 (Signal Proposal)
As a bit of background, holding a Squiggle (the NFT) gains you access to the SquiggleDAO discord but does not provide you with voting rights. Only holders of $SQUIG tokens have the ability to vote. There was an initial Airdrop of $SQUIG tokens for very early discord members, and a subsequent Contribution Round that allowed people to donate a Squiggle in exchange for $SQUIG tokens. In order to increase the distribution of $SQUIG to members and also increase the amount of artwork in the SquiggleDAO vault, another Contribution Round is proposed.
Which NFTs can be contributed?
A soft pole was held 2 weeks ago and the community decided the following 3 Drops should be included as part of the next contribution round:
Ringers – Dmitri Cherniak
Algobots – Stina
Framergence – Arihz (Active artist winner)
Congratulations to those artists!
$SQUIG to be distributed
Each donation will earn a number of $SQUIG based on a Squig/ETH Ratio of 4000 $SQUIG Per ETH (remains the same as the initial contribution period)
The Contribution Rate will be based on the OpenSea floor prices (this may be adjusted slightly if the floor price changes signficantly prior to the contribution period starting). This is currently:
Drop Artist Type ETH $SQUIG
Framergence Arihz Floor 0.65 2,600
Ringers Dmitri Cherniak Floor 5 20,000
Algobots Stina Floor 0.5 2,000
The first 48 hours will be reserved for contributions by SquiggleDAO members only (member snapshot to be taken). We want to ensure that all members have the ability to contribute at least one NFT should they wish to. Any member that donates one NFT from the listed drops above will have their contribution accepted.
If more than 100k $SQUIG have been distributed after the first 48 hours then no further donations will be allowed. If less than 100k $SQUIG have been distributed, the second round will be open for 48 hours to anyone to contribute (SquiggleDAO and Non-SquiggleDAO members). Once the 100k $SQUIG cap has been reached during this phase, no further donations will be accepted.
• Formal voting (via Snapshot) on this proposal outlined above
• Snapshot of current SquiggleDAO discord members to be taken to get Whitelisted addresses
• Marketing team to send out comms detailing the next contribution round
#acqusition channel in Discord (additional discussion can also be found here)