Hi frens, in Chapter 2 we proposed that 10% of the Gotchus Alchemica supply be vested over 30 years to be used for Ecosystem purposes. The primary goal of this allocation is to ensure excellent long-term liquidity across many platforms, including the GAX, various DEXes on Polygon, Mainnet, and even CEXes.
Those who follow the project carefully know that we always try to do everything “by the book”, to make Aavegotchi a model case study for decentralization and legal compliance. We are currently in the final stages of setting up a new legal wrapper for AavegotchiDAO (more specifically, a Panama Foundation) and will soon be making an announcement for applications to serve.
On the technical side, we are also working to implement onchain governance of the Aavegotchi protocol. However, this will take some time, as it requires upgrades to the deployed GHST token on Polygon.
While all of this is happening in the background, we are also launching FIVE new ERC20 Alchemica tokens and locking a sizable amount of them into vesting contracts.
For both legal and strategic reasons, we believe that the Ecosystem allocation should not be managed by Pixelcraft, but instead by AavegotchiDAO. The DAO Treasury Force has already been created to manage some of the DAO treasury, but the number of signers is quite few (six) and in my opinion insufficient to hold such a sum of funds.
Therefore, I propose we create an additional multisig under the current DTF, with fifteen signers instead of the current six. Twelve out of fifteen signatures would be required to confirm transactions.
This multisig would be the beneficiary of the Ecosystem Vesting Contract (which holds 10% of each Alchemica’s token supply, vested over 30 years), and could also inherit the 1M GHST originally allocated during the GHST creation for Ecosystem building, to help bootstrap Alchemica liquidity.
On our side, we will deploy the Alchemica and create initial liquidity pools on Quickswap, after which we will transfer ownership of the vesting contract to the multisig. After that point, it will be up to the DTF to coordinate liquidity provision.
Please discuss this proposal here in this thread and signal why you’d like to be elected as an initial member of the multisig. Technical knowledge of operating a multisig and liquidity provision is suggested, but not required. After 10 days of discussion, we will create a Snapshot election with all of the members who have signaled.
If we do not reach a threshold of 15 community members wishing to join the multisig, then Pixelcraft will retain ownership of the Ecosystem vesting contract until a proper multisig can be formed.
Let’s goooo Gotchigang!