0x0fd901ba…7a35sent to0x0831172b…d7e7·#17,965,237·0x32a6828b…a72489
{"projectName":"CultDAO.Shrimps","guardianProposal":"Carlton Bags","guardianDiscord":"@CarltonBags","guardianAddress":"0x0fd901bAC3530D7f2C66293BC763Ba63312A7a35","shortDescription":"Abstract:\n\nThe fixed payout of 13ETH per proposal limits Cult DAOs investment flexibility regarding investment size.\nThis can lead and has led to potentially interesting opportunities being passed upon because the required investment of 13ETH was viewed as not matching potential investment returns.\n\nAlso this deleverages Cult DAOs abilities when negotiating a deal with a potential investee, as the counterpart in the negotiation knows about the inability of Cult DAO to adjust the size of its investment amount per proposal\n\nCultDAO.Shrimps as a SubDAO seeks to fix those issues by holding the funds in separate treasury controlled via $dCULT-snapshot-voting.\n\n\nMotivation:\n\nThe fixed payout of 13ETH per proposal in the past has led to multiple investment opportunities or sponsorships to be passed upon because of the treasury being viewed as too small. However, there are those cases in which the opportunity to pursue a smaller investment might have led to a different investment decision. There are some side funds for marketing or grants like Cult Family Cares, but those structures are more loosely defined than the one pursued by the creation of this SubDAO. \n\n\nFurthermore, the inflexibility originating in the fixed proposal size of 13ETH has the potential to be exploited in negotiations, as the counterpart is likely aware of Cult DAOs limitations in adjusting the size of its investment. Though this can theoretically be done by just passing the proposal, pay out an amount that is agreed upon with the investee, only to then send the remaining funds back to the treasury, it is not really a smooth way to handle it. Also, the time it takes to workshop something in addition to the five day voting period of a proposal for a potentially relatively small investment amount or a time sensitive investment might lead to inefficiencies regarding workload and or timing. \n\n\nIt also opens up the opportunity for a non-guardian to propose an investment as the current rule set allows for anyone to put up a snapshot vote, empowering The Many. This could very well accelerate investment review & result in many more Shrimp investments, allowing for parallel investment processes between Cult DAO and CultDAO.Shrimps.\n\n\nStructure and Numbers:\n\nThe structure pursued to fix the issues presented via the creation of CultDAO.Shrimps is the following:\n\n1.Gnosis-Safe (treasury controlled by five trusted community members);\n2. Telegram (Communication and coordination);\n3. Snapshot.org (voting on potential investments);\n4. Twitter (public announcements);\n\n\nThe initial funding for CultDAO.Shrimps would be one proposal of 13ETH to be held in the SubDAO treasury until a specific investment opportunity arises. Those can be small cap investments but also sponsorships for example. Everything that follows The Manifesto guidelines can be considered a potential investment target. Investment decisions will exclusively be made via snapshot vote ($dCULT).\n\n\nClosing Words\n\nThe added layer of flexibility provided by CultDAO.Shrimps opens up the opportunity to pursue smaller investments without too much bureaucracy. Also, it allows for more experimental investments, as the investment size can smoothly be adjusted according to the risk. Finally, this SubDAO empowers The Many to propose an investment directly without having to seek a sponsoring Guardian.\n\n","proposalUpdatesOverTime":"Carlton Bags","proposalAllocation":"single","manifestoOutlinedFit":"As a SubDAO, CultDAO.Shrimps operates under the same set of rules as Cult DAO","socialChannel":"will be initialized if the proposal gets approved","links":"-","projectProposalStage":"ready to operate once the proposal passes","returnModel":"-","proposedTimeline":"-","fundsStoredHeldUtilised":"Gnosis Safe (multisig with 5 signers)","wallet":"0x8Ff09B379BA98D79CF12D8CF539192472123cA29"}