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