We have limited time to pass this proposal as we are needing to get public announcements published ASAP. Please vote on this within the next 3 days 24/01 - 26/01/2022
Vote here: Snapshot
Overview:
The Pillar Genesis Collection is an NFT initiative that aims to:
- Reward Governors
- Create value and loyalty from new community members
- Create a revenue stream for the DAO treasury.
Background:
The NFT initiative will be a collection of 256 items for planned launch at the end of January. First, Governors will be whitelisted and can mint their NFT for free, but need to pay the network transaction fee, which is minimal ($0.01-$0.10, depending on network congestion). Concurrently, Pillar will launch a staking campaign for 7 weeks where anyone holding PLR can stake their tokens. During this 7 week staking period, we will run weekly lotteries and anyone who has staked has an automatic entry into the lottery and the chance to win an NFT during the weekly drawings. The lottery is only open to those who have staked. Lottery winners will have their V2 address added to the whitelist of Govs and lottery winners can then also mint for free, save paying the network transaction fee (as with the Govs). Anyone can join the staking campaign throughout the 7 weeks, however there is a 1 week minimum staking requirement before qualifying for the next round of lottery draws, so those joining after the end of week 6 will not be eligible for the lottery. Once you stake, you cannot unstake until the end of the 7 week staking period.
At the end of the 7 week staking campaign, any remaining NFTs (currently estimated to be about 80) will go into a public sale. Currently, a royalty would be applied to any resales on secondary markets. All revenue from public sales and royalties on future sales would go to the DAO under the current proposed structure.
If successful, subsequent NFT campaigns could follow.
Specification:
- +/- 80 Genesis Collection NFTs for public sale
- 80 $MATIC per mint
- Secondary sales prices determined by seller
- Recurring 5% royalties on sales
- OpenSea fee of 2.5% on sales
- Hosted on Polygon Chain (low fees)
- In-built benefits for each Genesis holder
Motivation:
The aim of this proposal is to:
- Bring more interest to the DAO and Pillar by aligning with the NFT trend
- Motivate community members to join the governance of the DAO
- Set up a revenue stream for the DAO going forward
- Highlight the value of the rewards that are open to DAO governors
The advantages of accepting this proposal are:
- That moving forward, we can begin magnetising users to join the DAO due to valuable rewards available with more to come in the future
- Minting dApp already built
- We can further build on the DAO active community growth campaign
- It sets a precedent for future growth campaigns.
Supporting Materials:
- Videos on how to mint will be created
- Social Media posts and announcements about the sales can be handled by the team
- OpenSea collection account set up.
The Pillar Team would like to see this proposal voted through as it would allow us to continue to expand our reach and align with current trends in the crypto space.