We are migrating our NFTs from Opensea’s Storefront contract to our own custom contract.
As a part of this, core team members and I have discussed raising the supply of Citizen NFTs from 50 to 100 for several reasons:
• The DAO sold off Founding Citizen NFTs too quickly. We only have 2 left in the treasury
• We propose that the DAO be mandated to keep 25 of these in its treasury and vote on allocation to future contributors.
• This would help the DAO fundraise and reward active contributors.
• Only 25 would be immediately added to the supply so there is not much dilution.
If we vote on this proposal, I think its only fair that only Founding Citizens can vote on this, given they are impacted.
I’m actually a little hesitant to do this. Trying to be objective here, but I think it sets a bad precedence. We now have 4 I believe (not that different from 2 haha). Maybe it would have been better to hold on to a few more, but I think these represent early contributors/believers and shouldn’t be used for future contributors necessarily.
We might find these tough to use as a reward mechanism too because ideally each person has one, so it’s a one time use tool and it’s a fairly large lump sum payout.
Fundraising wise, I think we could ideate on some other ways to produce revenue because it’s unsustainable unless we keep changing the supply. Maybe it’s thinking less about fundraising and more about compliant revenue as we start to mature.
25 added to the supply is a lot percentage wise when the current is 50.
I do think we need to find an agreeable way to get one to odyslam for all of his smart contract work.
Completely agree with you. I personally am not a founding citizen, but that’s the point, it’s rare and was a one time sale. If someone wants one there are plenty of speculators selling theirs. Would honestly be good to force those interested in having one to buy from those people so more contributors and fewer speculators have them.
Plus, (as of right now) they’re purely ceremonial and don’t give any increased rights besides getting to land drops slightly earlier, so is the difference between a citizen and a founding citizen that big of deal?