Here's What the Moonbirds DAO Will Look Like
Moonbirds recently held a token-gated PROOF Collective discussion about its upcoming Moonbirds DAO, which project founder Kevin Rose teased back in August 2022.
The mission of the DAO is "to empower the creatives to further the Moonbirds' ecosystem, reputation, lore, and meme," according to a recent Twitter thread posted by the team.
PROOF Collective is allocating more than $2.5 million to the DAO, $2 million of which will come via ETH. The remaining $500,000+ will come via Moonbirds NFTs, and $500,000 will be used to purchase Moonbirds from the secondary marketplace. Tokens and airdrops relevant to these NFTs will also be DAO property.
PROOF Collective made it clear that the $500,000 purchase of Moonbirds from the secondary marketplace is "not a floor sweep."
"While $500,000 USD certainly sounds like a large commitment, when sales volumes are decent, we can clear this number in a single day -- it's approximately 37 Moonbirds," the statement reads. "This purchase will be done slowly. The sole intention is to build up our treasury, because we're bullish on what we're building and would like to see how the DAO leverages these NFTs over the long-term."
The DAO will be further funded via royalty fees from secondary marketplace sales, with 35 percent of all royalty fees from both Moonbirds and Oddities NFTs going to the DAO (via ETH).
The voting structure of the DAO is yet to be determined, but both Moonbirds and Mythics holders will have voting rights.
"The DAO will be decentralized, and they control all aspects of the organization," the team confirmed. "PROOF will, similar to Nouns, put in place a cold-start system that allows us to veto any rogue proposal – we doubt this will happen, but want to have safeguards in place to protect against attacks until we are comfortable with the voting process."
For more information about the upcoming DAO, which is set to launch in early 2023, see PROOF of Documentation here.