Proposal to Earmark 2,000,000 $DFX Tokens to be Used Exclusively for Centralized Exchange Listings and Marketing Efforts
Overview
This is a proposal to allocate 2,000,000 DFX from the DFX Treasury Wallet (which you can view here) to a new wallet, the “DFX Outreach Wallet.” The $DFX tokens in the DFX Outreach Wallet must be used to further DFX’s interests, specifically listing on centralized exchanges (hereinafter “CEX” or “CEXs”) and/or marketing efforts.
Additionally, this proposal would give the DFX Team sole and full authority to use the $DFX tokens in the DFX Outreach Wallet to negotiate and execute agreements concerning CEXs and/or marketing.
Motivation
It is a clear desire of the DAO to expand DFX’s reach and visibility to a more mainstream audience. To do this, the DAO feels it is necessary to take steps to list the $DFX token on CEX(s) and to market the project. The DAO understands that listings and marketing are not free. As such, the DAO is now voting to apportion and earmark two million (2,000,000) $DFX tokens from the DFX treasury to help fund these efforts.
Specifications
The DAO would allocate two million (2,000,000) $DFX from the DFX Treasury Wallet to be sent to a new wallet, the DFX Outreach Wallet, and earmark those two million $DFX tokens to be used for only two purposes – 1) listing $DFX on centralized exchanges and 2) marketing DFX.
Because the DAO would need an individual to negotiate these deals on its behalf, this proposal would appoint the DFX Team as the DAO’s negotiator and would authorize the Team to take whatever actions it deemed necessary to close and finalize deals on the DAO’s behalf, including unfettered use of the $DFX tokens in the DFX Outreach Wallet.
In accepting this proposal, the DAO publicly acknowledges its trust in the DFX Team to negotiate as a member of the DAO and on behalf of the DAO, and specifically gives the DFX Team authority to act on the DAO’s behalf using their best judgment.
Specifically, the Team would have the DAO’s authority to take whatever steps necessary, in the Team’s opinion and judgment, to negotiate and effectuate deals on the DAO’s behalf, including but not limited to use of the $DFX tokens in the DFX Outreach Wallet, such as:
- Sending $DFX;
- Selling $DFX, directly to buyers, (not on the market), pursuant to terms negotiated by the DFX Team and the buyer(s). Any such over-the-counter sales must be accompanied by a covenant not to sell any of the purchased $DFX tokens for a period of time to be determined and negotiated by the team. This period of time must be at least six (6) months.;
- Loaning $DFX;
- Transferring $DFX;
- Bridging $DFX; and,
- Any other action necessary to help DFX achieve the stated goal of listing on CEX(s) and marketing the project.
Proposed Changes
- Currently, there are 4,521,179 $DFX tokens in the DFX Treasury Wallet.
- We would create a new wallet, the DFX Outreach Wallet, controlled by the DFX Team, and send 2,000,000 $DFX tokens from the DFX Treasury Wallet to the DFX Outreach Wallet.
- The DFX Team would negotiate with CEXs and marketers to attempt to strike a deal on the DAO’s behalf. The Team would have full authority to use the DFX Outreach Wallet in any capacity necessary to negotiate, structure, finalize and close these deals.
Pros and Cons of the Proposal
Pros –
- This is a formal step by the DAO to fund the listing of the $DFX token on CEXs and to market the project. The benefits of listing on a CEX are many, and include more visibility, more use of the project, higher TVL and higher revenue for the project.
- This creates transparency for the DAO, but still puts the DAO in a position to realistically negotiate and finalize deals by authorizing the DFX Team to negotiate on its behalf.
- The listing on a CEX, or multiple CEXs, will increase liquidity and volume in the project.
Cons –
- We are spending 2,000,000 $DFX out of the DFX Treasury Wallet.
Summation of Proposed Incentives & Changes
- We create a DFX Outreach Wallet and fund it with 2,000,000 $DFX from the DFX Treasury Wallet
- We authorize the DFX Team to use those 2,000,000 $DFX in any way the Team deems appropriate and necessary to effectuate and bring to fruition the DAO’s desire to list on a CEX, or CEXs, and to market the project.
