FIP#5 - Collections Framework project

Summary

A team led by @ipfs90210 would work on a project to deliver a Collections Framework, a Research Report template, and a WIZARD Report, with a budget of 500 FLOOR and a timeline of 2 weeks.

Motivation

In the initial phase for Floor, we want to accumulate PUNK and PUNKWETH to establish a strong “blue chip” base for the treasury. It is important however to continue adding more NFT collections to both activate a wider community as well as diversify Floor’s holdings.

The eventual goal is to enable permission-less, on-chain governance via veFLOOR or a similar structure. In the meantime, more active governance and research is required to ensure proper suitability of any new NFT collection approved for direct sweeps or bond sweeps.

A Collections Framework, and in conjunction Research Reports, would provide a systematic and more objective way to evaluate collection suitability, while removing individual bag bias.

Proposal

@ipfs90210 has agreed to lead and organize a team of DAO contributors in delivering the following, with a budget of 500 FLOOR (paid from DAO holdings) and allocations handled via Coordinape. The project timeline would target 2 weeks from approval of Snapshot.

  1. Collections Framework — formal guidelines for proposing new NFT collections to approve for addition to the Treasury
  2. Research Report — template for quantitative and qualitative evaluation of a collection, with an ultimate recommendation for approval or not yet into the Treasury
  3. WIZARD Report — a report, following the Research Report template from 2., that evaluates post hoc suitability of Forgotten Runes Wizard’s Cult (top result from FIP#3)

Prior to this, @ipfs90210 created the FUD system to assess the qualitative attributes for collections, which was used as part of the basis for candidates in FIP#3

Polling Period

The polling process begins now and will end at 00:00 UTC on 2022-03-09. After this, a Snapshot vote will be put up at 00:05 UTC on 2022-03-10.

Poll

For: Approve the 500 FLOOR budget
Against: Amend the proposal

  • For
  • Against

0 voters

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Hi!
Would you please add what is the contributor’s background, and why are they a good fit for this role?
Thank you!

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Added, good feedback @SoGrateful !

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In addition to the FUD proposal linked above, I have been active in the NFT space both as a producer and trader. I’m the cofounder of an NFT project studio called folia.app (https://twitter.com/foliafoliafolia) and a contributor to Gringotts DAO (https://twitter.com/GringottsDAO), an NFT financialization collective currently focused on market making for NFT loans. Happy to answer any other questions you might have.

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Thank you ipfs90210. Great to have you as a contributor to FloorDao

I don’t see how your process would resolve “removing individual bag bias”.

It sounds like you may be trying to produce a document or chain of documents that will analyze a collections stability and maybe estimate the amount of fees the DAO could earn from bonding/sweeping and then vaulting the collection. But I don’t see how that will remove bag bias.

Even after all this research, if the big bags still get to vote then there votes will always be loudest.

Are you hoping for this to be a way to calm down holders and potential new holders. Like no matter how the DAO votes, the developers will always make sure the vote is in the best interest of the DAO?

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If the analysis (and acknowledging some margin for interpretation) shows that a collection is unsuitable, then the collection wouldn’t even be eligible to be voted on, thus no bags to swing it.

So you want to create a forum for which members will be able to suggest the addition of a collection and you’d also like to create standards by which the dev team will use as to whether a collection will be added to the treasury.

Will your standards help determine the level of exposure the DAO will take on when it buys into a collection. Will it recommend how purchases will be based: sweeps, bonds, or combos. Will the DAO be able to vote on not just the collection but the level of exposure?

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yup, here and in discord (#policy channel or perhaps a #treasury channel later)

exactly

the DAO, really, we want to decentralize multisig and decision-making as much as possible

at the moment no, the Policy / Treasury should have broad discretion over allocation within some reasonable bounds. what are “reasonable bounds” :thinking: good to discuss

ditto above

ditto

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I have finally got around to reading @ipfs90210’s FUD analysis in full and the depth of knowledge condensed into that document is incredible! Absolutely confident that he’ll smash this out of the park. Great and grateful to have you on board @ipfs90210 :heart:

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