BIOHACK-2: TGE has arrived!

Fellow superhumans,

The long-awaited TGE has arrived! Or at least so we are proposing…

Context:

About a month ago, on Nov 23, the second and final round of our juicebox token pre-sale concluded. The intent has always been to follow up with a TGE, to make sure the governance token can be freely and easily transferable, in order to facilitate onboarding new members. We believe the perfect time to do that is here soon.

Proposal:

The DAO is proposing to -

1. Convert the juicebox token into an ERC-20

2. Use treasury ETH + DAO token to supply liquidity on uniswap (earmark up to 5% of token supply for this, paired with an equivalent value of ETH)

3. Authorize Stewards to conduct OTC sales of DAO token from treasury (10% token supply max), given that all token sold is subject to vesting.

4. Earmark up to 5% of token supply for past and future airdrops

Reasoning:

We believe listing on the largest dex will be the best for bootstrapping initial liquidity for the token. We are earmarking a large enough token supply to provide lasting deep liquidity. We will likely start by creating a smaller LP and increasing its size as needed over time, depending on trading volumes.

The DAO has previously discussed and aligned on an OTC sale of additional treasury tokens to individual and institutional players who can provide potential high value add to the DAO - in the form of connections, marketing, follow up funding access, market making, and/or other. Conducting OTC sales will also further boost our treasury without impacting current holders, given the lock ups. Furthermore, the lock ups ensure that we are only selling to highly aligned players.

After numerous discussions, we surmise that it will be the most advantageous for the DAO to complete the OTC in conjunction with or after our TGE. Please note, should this proposal pass, the Stewards will have the authorization but not an obligation to sell up to 10% of token supply via OTC. The Stewards will have the obligation to consider potential offers and proceed or not, according to the best interest of the DAO.

Similar with the airdrops, we believe it’s in the DAO’s interest to earmark up to 5% of token supply for future airdrops to individuals and groups who contribute to the DAO by providing work or help to spread awareness. We’ve already ran a couple of campaigns that qualify people for airdrops and this is to ratify their distribution and provide allowance for further campaigns and allocations. Please note, this allowance won’t be used all at once but rather spent over time.

Next Steps:

Should the vote pass, the DAO will implement steps 1-2 within 30 days from the proposal’s passing. The DAO will implement steps 3-4 over time, as per the above.

Should the vote fail, the token will remain a juicebox standard token without liquidity on any exchanges. The DAO may choose to put forward an alternative liquidity proposal at a later date.

Voting:

Vote Yes if you approve steps 1-4 above.

Vote No if you disapprove of any or all of the steps above.

DISCLAIMER:

The DAO is legally structured as a non-profit organization - which is common in the web3 space and aligns with our Mission of furthering human knowledge and enhancement. Please note, purchasing our governance token directly or on any exchange should not be viewed as an investment, the token does not represent a security in any jurisdiction, and there will be no expectation of financial return of any kind.

By purchasing the BiohackerDAO token, The Participant is agreeing to follow the rules and legislation of their applicable jurisdiction, when it comes to the sale and ownership of digital assets and participation in crowdfunding events. The Participant certifies that they qualify to take part in any sale, according to all applicable laws and regulations.

The Participant agrees to indemnify, defend and hold BiohackerDAO, or any of its affiliates, directors, officers, employees, contributors, advisors or agents (including developers, auditors, contractors or founders) harmless for any claim, liability, assessment or penalty, including with respect to any taxes associated with or arising from the Participant’s participation in the token launch, sale or auction, or the use or ownership of tokens.