Proposal #49: Buy Pooly NFT (Time Sensitive)

Summary

PooITogether is currently involved in a lawsuit and is performing fundraising by selling NFT’s to raise legal funds. I want to propose Tracer DAO allocating 0.1 Ethereum to purchase 1 pooly NFT being sold by PoolTogether. This would been to be done within the next week, and the sooner the better as over time the benefits obtained from this proposal may diminish or the opportunity may be gone altogether. If consensus cannot be reached in a timely manner we would need to abandon this proposal.

The Pooly minting page can be found here: https://mint.pooltogether.com/

For 0.1 ethereum Tracer DAO could potentially see quite large benefits, increase web3 footprint, help to set legal precidents, and contribute at large to the web3 community. I think it would be a strong win-win and that includes financially.


Rationale

Minting 1 Pooly NFT has several potential direct and indirect benefits to Tracer DAO which I will now outline:

  1. It sets a legal precedent in crypto for the USA, which will be invaluable to us moving forward. In the legal system in the USA, the first cases basically set law moving forward for many years to come. If PoolTogether is unable to mount a sucessful legal defense it could open up other Web 3.0 applications such as Tracer to increased legal exposure.

  2. There is a strong possibility of being whitelisted for lens, which a strong social media presence in web 3.0, which is going to be a net positive for Tracer DAO. We would be able to to increase our social footprint, and since lens is on web 3.0 as oppose to say twitter on web 2.0 our target audience would be present in larger numbers (or maybe more concentrated is the right way to say this).

  3. Possibility of unforeseen benefits like airdrops, inclusion in protocols, which cannot be counted on or anticipated but are likely none the less. Other than the 2 lens snapshots that have already happened (with more likely to occur) other protocols have started to involve pooly NFT holders. https://twitter.com/0xLazaros/status/1534515104049467392?s=20&t=Vcnd8E7yDr9qe8z8mo0a8g
    It is quite possible that post mint that Tracer MAY actually profit quite a bit off of this, whether it be through social platform exposure, direct airdrops, inclusion in events, or other unforeseen benefits.

  4. The Pooly NFT itself does have intrinsic value so even if everything else was a wash the NFT currently does sell for 90% of its minting cost on Opensea. While this is likely to change, NFTs are somewhat unpredictable and a pooly NFT could become far more or less valuable in the future.


Deliverables

If passed, Tracer DAO would be participating in the greater Defi/Crypto ecosystem at large, protecting their own legal future interests, possibly reap financial benefits, and likely reap social benefits.


Variation and Termination

While the act of Minting the Pooly NFT cannot be reversed, the Pooly NFT could be sold in the future if so desired by Tracer DAO.


Conflicts of Interest

There is not current conflict of interest known to me, and it would seem to actually align with our best interest.

Personal disclosure: I own a pooly NFT.


Interpretation

Unless expressly agreed otherwise in writing by an Authorised Representative of the DAO, all terms that are defined pursuant to the Participation Agreement will retain its meaning.

If this offer is accepted as a Proposal under the Participation Agreement, others may more formally document aspects of that Proposal.

5 Likes

I agree with the points above about supporting DeFi causes and helping establish precedent is in the best interest of Tracer.

This is an admirable cause to support and the financial commitment is small enough that the DAO treasury make do this.

Disclosure: I personally hold a Pooly

3 Likes

This all happened over a $12 deposit…
If this has happened to Leighton, all of DeFi is at risk. I agree with the points listed above, esp the first one. As a fellow DeFi protocol, it’s in our best interest to support Pool Together and mint a Pooly.

I should disclaim that I also personally own a Pooly.

5 Likes

hey Fam.

Huge fan of this proposal! It’s a relatively low cost to signal true alignment with DeFi.

Easy way to win a bunch of legitimacy from the broader community!

There’s a possible future where DeFi acceptance is under threat in the U.S., and signals like buying a Pooly are how we show to our own community, and to outside threats, that we are a cohered community that is not to be messed with!

4 Likes

Lets do this. Money talks. Need to show that defi can pass these litigation tests by virtue of collective efforts to counter the tradfi vested interests

1 Like

I agreed 100%
Together we are stronger!

1 Like

All for this - lets throw our support behind pool together.

1 Like

Love this, looking forward to the partnership

1 Like

i am new to this site. How can I vote?

Hey welcome! This proposal has actually already gone through a governance vote on Snapshot, and was successful. See here: Snapshot

Tracer DAO now owns a Pooly!

In future, all governance voting occurs on Snapshot (linked above), and the community are notified on any live proposals through Tracer’s Discord server. Are you in Tracer’s server?