Introduction
In May 2023, there were discussions within the DAO forums initiated by the community regarding how value generated by the DAO could possibly accrue back to the members. This proposal hopes to address this, creating a framework that will fulfill the buyback utility or feature of $BREED, as originally mentioned in the whitepaper.
Background
BreederDAO has recently made significant strides such as, but not limited to,
- The Gaming Operations fund is currently up by +250% since inception.
- Key partnerships and collaborations with top gaming projects such as Pixels, Azra, Oasys, and Shrapnel.
- Strategic token holdings in Digidaigaku, Parallel, My Pet Hooligan, and Overworld Incarna.
- Recent 100x increase in valuation from PIXEL partnership.
All of which have contributed positively to the growth of our DAO. Given this financial greenlight, the DAO deems it fit to commence buyback discussions on $BREED.
Rationale
In light of BreederDAO’s recent accomplishments, it has been decided that we will allocate a portion of the value it has produced from assets, ventures, and gaming operations worth $250,000 for the first tranche in a series of buybacks. Funding for token buybacks may evolve and broaden in the future.
In the currently published whitepaper, in the event of a buyback, purchased tokens will be distributed via the staking pool. This proposal aims to give control back to the DAO should they deem a buyback and burn program more aligned towards maintaining a thriving and robust token economy compared to the initially planned buyback and distribute program. A buyback and burn program could result in a more accurate reflection of value of the organization through $BREED.
Proposal Details
Option 1: Buyback and Distribute to Staking Pool
Option 2: Buyback and Burn
Post proposal, the team will carefully schedule token buybacks. We will notify the community after each buyback.
Implementation
Discussion:
This proposal reinforces the democratic nature of BreederDAO by allowing community members to actively participate in decision-making processes that directly impact the DAO’s operations and token economics.
We encourage community members to engage in discussions regarding the proposal, voice any concerns or suggestions, and offer feedback on implementation details through our Discord or Discourse discussion forum.
Voting Period:
Community members will have a 7-days window to review and cast their votes on the proposal, ensuring ample time for participation.
Conclusion
BreederDAO’s proposal for a buyback and burn program signifies our dedication to fostering a thriving and resilient ecosystem. This initiative is to further incentivize participation, strengthen community engagement, and drive value appreciation for $BREED. By actively engaging the community in decision-making processes, we aim to uphold the principles of decentralization and inclusivity while driving sustainable growth and value creation for all stakeholders.