Discussion : Invest in Mr.Misang's "Time" NFT and acquisition of "Ghosts" NFT

Title of the Proposal : Invest in Mr.Misang’s “Time” NFT and acquisition of “Ghosts” NFT

Category : Community Support & Decision

Kudos : Ghosts #5456, t0nyhan

Abstract :

  1. Strategic investment in “Time” NFT for DAO’s collection
    By investing our Treasury funds in the purchase of the “Time” NFT, our DAO can actively participate in the “Burning Soul” events, with the opportunity to decide whether or not to claim a specific art piece. This asset could also be utilized for future events, including but not limited to, airdrops, contests, and other proposed activities.

  2. Acquisition of “Ghosts” NFTs to enhance voting power
    Our DAO is currently experiencing challenges in reaching the necessary quorum. Purchasing additional “Ghosts” could strengthen our voting power while simultaneously elevating our collection’s floor price. This proposal is put forth with the conviction that such an investment would be advantageous.

  • Condition : Method of purchase
    • We suggest adopting an “offer” mechanism based on a formula (e.g., 3-month average floor price * 1.1) to execute the purchase. This approach, while possibly time-consuming, is a valuable strategy to prevent potential transaction abuses.
    • Please note that this proposition might conflict with Opensea rules. Therefore, we intend to conduct a thorough examination to ensure that feasibility of this approach. If this method be inapplicable, I am prepared to use my personal monthly salary for the purchase. For this, I will increase my monthly salary accordingly and will establish a new wallet specifically for this transaction.
  1. Utilization of Treasury Ghosts to Boost Voting Power
    3.1 Comparison with a Paid-in Capital Increase
    There have been numerous suggestions from our holders to leverage the Ghosts currently held in our Treasury. However, this strategy mirrors a paid-in capital increaess. The total market supply of sellable Ghosts is the total number of Ghosts minus those secured in the Treasury. Hence, transferring our Treasury Ghosts to other wallets would increase the number of sellable Ghosts, potentially depreciating our floor price.
    3.2 DAO’s Commitment to Mr.Misang’s Collection
    As a DAO, we firmly believe that Mr.Misang’s work holds greater value than its current market price. This conviction is evidenced by the fact that most holders are not even listing their NFTs and are, in fact, more inclined to augment their collections. Therefore, reducing the volume of Ghosts held in our Treasury may contradict the DAO’s core purpose. We believe in upholding the inherent value of our holdings, and as such ,we propose to maintain our existing treasury reserves to preserve the value of our community assets.

Discourse :

Rationale :


"DAO 컬렉션을 위한 “Time” NFT에 대한 전략적 투자
우리의 재무 자원을 “Time” NFT 구매에 투자함으로써, 우리 DAO는 “Burning Soul” 이벤트에 적극적으로 참여할 수 있으며, 특정 예술품을 주장할지 여부를 결정할 기회를 가질 수 있습니다. 이 자산은 또한 에어드롭, 경쟁, 그리고 다른 제안된 활동들을 포함하되 이에 국한되지 않은 미래의 이벤트에 사용될 수 있습니다.

“Ghosts” NFT들의 획득으로 투표력 강화
현재 우리 DAO는 필요한 쿼럼에 도달하는 데 어려움을 겪고 있습니다. 추가적인 “Ghosts”를 구매함으로써 우리의 투표력을 강화하고 동시에 우리 컬렉션의 최저 가격을 높일 수 있습니다. 이 제안은 이러한 투자가 유익할 것이라는 확신을 가지고 제시되었습니다.

조건 : 구매 방법
우리는 구매를 실행하기 위해 공식(예: 3개월 평균 최저가격 * 1.1)을 기반으로 한 “제안” 메커니즘을 채택하는 것을 제안합니다. 이 접근법은 시간이 걸릴 수 있지만 잠재적인 거래 남용을 방지하는 데 있어 가치있는 전략입니다.
이 제안은 Opensea 규칙과 충돌할 수 있다는 점을 유의하십시오. 따라서, 우리는 이 접근법의 실행 가능성을 확신하기 위해 철저한 조사를 진행할 계획입니다. 이 방법이 적용할 수 없다면, 개인적인 월급을 이 구매에 사용할 준비가 되어 있습니다. 이를 위해, 저는 적절하게 월급을 올리고 이 거래를 위해 새로운 지갑을 설정할 것입니다.

재무 자원에 있는 Ghosts를 활용하여 투표력 강화
3.1 유상증자와의 비교
우리의 보유자들로부터 현재 재무 자원에 보유하고 있는 Ghosts를 활용하라는 많은 제안들이 나왔습니다. 그러나, 이 전략은 유상증자와 유사합니다. 판매 가능한 Ghosts의 총 시장 공급량은 총 Ghosts의 수에서 재무 자원에 보유하고 있는 것을 뺀 수입니다. 따라서, 우리의 재무 자원에 있는 Ghosts를 다른 지갑으로 이전하는 것은 판매 가능한 Ghosts의 수를 증가시키고, 이는 우리의 최저 가격을 감소시킬 가능성이 있습니다.
3.2 DAO의 Mr.Misang 컬렉션에 대한 헌신
DAO로서, 우리는 확고하게 Mr.Misang의 작품이 현재 시장 가격보다 더 큰 가치를 가지고 있다고 믿습니다. 이 확신은 대부분의 보유자들이 그들의 NFT들을 나열하지 않고 있고, 사실, 그들의 컬렉션을 늘리는 데 더욱 기울인다는 사실에서 나타납니다. 따라서, 재무 자원에 보유하고 있는 Ghosts의 양을 줄이는 것은 DAO의 핵심 목적과 상충할 수 있습니다. 우리는 우리의 보유물의 내재적 가치를 유지하는 것을 믿으며, 이와 같이, 우리는 우리의 커뮤니티 자산의 가치를 보존하기 위해 우리의 현재 재무 자원을 유지하려고 제안합니다."

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For 2, i just don’t understand who’s voting power will get greater if DAO purchases the ghosts.

For 1, i do want to hear about the other’s opinion.

There would be a several options.

  1. Transfer voting rights to Mr.Misang or any other holders or working members.
  2. Re-distribute it to the holders

so on and so forth. there are many options.

thanks for the answer. just curious about that issue.

everything is on the table for now. I’m here to listen.

For both #1 and #2, rationale generally makes sense to me but it looks like we have to find an alternative and truslless/ trust minimized way of purchasing Time/Ghosts and utilizing them since both Opensea, Snapshot doesn’t allow interaction with smart contract wallet like our multisig.

So it will be like transferring fund from our treasury to specific purpose wallet for buying Time/Ghosts but the issue will be who will control that wallet and how we are going to manage it.

In the same extent, criteria of how we are going to delegate purchased ghosts to “whom” is also need to be determined. My current 2cents will be “delegating to most active voters”.

Listen, it’s pretty good, but It may not deliver long-term results, I think you guys should make ghosts a tangible product brand, such as investing in restaurants, or clothing, etc.

As a DAO of Ghostsproject, I think it is important to have Mr. Misang’s next NFT work, , and I also think it is meaningful to use treasury to secure enough voting power for DAO activation in the current market conditions.

  1. Buying ‘The TIme(BurningSouls)’ with GP treasury. :
    It is an interesting suggestion but feels a little bit subtle for me because I’m a creator of ‘Burning Souls’ and also a multisig signer of ‘GhostsProject’.
  • It looks possible.
  • But if this suggestion is passed, I think :white_check_mark:**I should hand over my multisig signer role to another community member.**:white_check_mark: Because I can’t sign to use the GP budget to buy my artworks. It will be same in case of buying any other artworks made by me. ^subtle^.
  1. Buying more Ghosts with GP treasury :
    Like David said, we can distribute these Ghosts to most activated members. But the problem is, we can’t force anyone not to sell their newly received Ghosts.
    : To achieve this suggestion’s purpose, I think it will be better to follow the steps below.
  • Distribute treasury’s Ghosts to Councils :
    Councils already took their role and responsibility, so I think they’ll keep their Ghosts as long as they take their role.

  • Or distribute treasury’s Ghosts to active community members.

  • In this case, we can’t force them not to sell their newly received Ghosts. So I suggest creating an honorary position like ‘Active voters’. It’s not a paid position and actually there won’t be any functions or rights for this role, but I think it will ‘slightly’ help to prevent them from selling their newly received Ghosts.
  • or mix above 2 options.
  1. Random idea.(Question) : :thinking:
    Is it possible to give voting rights for several collections in Snapshot?
    For example ; Give vote power to Special Fragments holders as long as Ghosts holders.
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For now, nobody wants you to leave multisig in many ways. Therefore I won’t continue this discussion for now.

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