I’m curious about the status of assets that will be eventually managed by the DAO, particularly the ones from the public and private sale. How much is there and in what currencies? Same question about the initial liquidity funds.
I have a proposal for what to do with the non-WSB funds: The AutoLotto
- Put all the non-WSB (I’m not suggesting we dump the market to fund this idea) funds into stablecoin LP’s (UST-BUSD for example) on PCS
- Farm the LP’s
- Use the earned CAKE to play the pancakebunny no-loss lottery
Pros: 1. It’s an hilarious combination of the lowest risk LP farm with the highest risk use of the earnings
2. We earn swap fees as well as the CAKE rewards, so we’re still earning on our principle even when we don’t win
3. We reduce our exposure to crypto price movements with the precious funds we have to start with.
- I think it’s hilarious and weird and if fed to the right media outlets could get free publicity: WSB Dao wins the lottery. This fourth reason got an extra line break because it’s as important as the other three combined. We all want marketing, but what marketing could possibly be more cost effective than just doing weird shit loudly. What caught my attention years ago on the old WSB subreddit was the weirdness and the humor. Like, who are these people calling each other autists jovially and looking up FDs and going “what the fuck?”. I feel like if we want to lean into the WSB brand, we need some silly shit.
I could even see a future ETP incorporating this, something like:
Let’s say 3% fees, all of which goes to stake stablecoin LP’s. Rewards are used to enter lotto. When lotto hits, half goes to ETP holders and half goes to WSB DAO treasury. This would incentivize ETP holding by giving back some of the fees and letting them get in on the lottery (and traders tend to love gambling).
I really think the autolotto could attract a lot of attention while actually reducing our risk profile. Imagine if it became a thing where people watch to see if the WSB DAO won the pancake bunny lottery each week.
edit: For those unfamiliar, the pancakebunny no loss lottery does not risk the cake that you put into it. All the cake that are put in during the 24 hour window are locked for 6 days. The cake in the pool earns rewards for those 6 days. It is only the rewards that are won in the lottery, not the cake that you put into it. So if you don’t win, you don’t lose what you put in, just the rewards you could have earned if you had staked the cake instead