FIP#31 - Partnership with nftperp

Summary

nftperp and FloorDAO to establish a long term partnership by conducting a $100k valued token swap at seed and treasury valuations respectively.

Abstract

nftperp is the leading NFT perpetuals market on Arbitrum, currently in beta and nearing a production launch. Thus far, nftperp has partnered with FloorDAO on a few initiatives:

  1. Using the Uniswap v3 TWAP oracles seeded from FloorDAO, including
    a. PUNK (CryptoPunks)
    b. MILADY (Milady Makers)
    c. BGAN (Bastard GAN Punks v2)

  2. Running a MILADY perp trading competition on testnet, awarding the top MILADY traders with NFTs and ERC20 prizes

  3. Inviting FloorDAO $gFLOOR voters to participate in the private mainnet launch

FloorDAO is highly bullish on key NFT primitives including perpetual swaps. Formalizing this partnership will allow the two projects to grow together and utilize each other’s tokens in strategic ways:

  • For nftperp, holding $gFLOOR (and in the future $veFLOOR) will allow them to directly influence where spot liquidity is deployed, further strengthening a key component feeding into the NFT perpetual oracle prices indexes
  • For FloorDAO, holding $NFTP will provide upside in the growth of NFT perpetuals, as well as future project utility with the token

Risks

  • Project risk
    • While currently one of the only known NFT perpetual projects, NFT-Fi is a competitive space and similar projects could be launched. FloorDAO can continue to provide support with our liquidity as oracles, community awareness, and potential integration into strategies in the future.
  • Token risk
    • nftperp, while thus far a good partner, is a separate entity and thus will have separate governance. They may decide that selling their $FLOOR tokens is the best move, which would negatively impact our price and community sentiment. FloorDAO can strive to maintain good relationships and also be involved in governance.

Specifications

$NFTP valuation: We will be using the seed valuation of $17m FDV, for an approximately 0.59% share.

$FLOOR valuation: We will be using the treasury valuation of about $6m (treasury value + POL ETH), and issuing DAO-owned tokens for an additional inflation of about 1.67% of circulating supply.

Poll

For: Approve proposal for Snapshot vote
Against: Amend the proposal

  • For
  • Against
  • Abstain

0 voters