AUTOLOTTO: A Proposal for and some Questions on the State of the Treasury

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

  1. 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
  2. Farm the LP’s
  3. 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.

  1. 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

3 Likes

Haha - I love the low risk / high risk combo! Fun idea and agreed about how the irreverence could be attractive for marketing / brand awareness. I’d be up for this.

One question - I’m not sure what you mean in the first sentence where you talk about the assets from the public and private sale? And when you say the assets of the DAO, do you eman the revenue from the 2% management fee?

1 Like

On the tokenomics page, the 15% private sale and 7.5% public sale. I know the public sale price was .02, so that’s $1.5mil.

I’m generally talking about anything in the treasury that’s not in the form of WSB. So that would be the proceeds from the 2 sales as well as the non-WSB side of the initial liquidity. I’m going off the tokenomics chart.

(I initially had this not as a reply so deleted and replaced. I didn’t realize it would leave evidence of my mistake, lol)

I’m pretty sure those funds from the private and public sales are being used to fund the build of everything they are doing right now!

I think the treasury funds only come from the 2% management fee that each ETP charges once each has been launched It’s 2% per annum. So we will need to wait a little while for some fees to accrue.

(Haha - I think we are all learning how this portal works together!)

That is a good point. But there is still the amount earmarked for Initial BSC Liquidity. I presume half of that liquidity is not in the form of WSB.

Admittedly from an ecosystem perspective, I understand Binance Smart Chain products better. Any way you could frame this in the BSC ecosystem. I think I know what you’re saying, but I’m not seeing CAKE as part of the procedure in adding liquidity in V2.

What I was suggesting is that we stake/farm stablecoins on PancakeSwap. The rewards are given in CAKE. That’s the CAKE I was talking about putting in the no-loss lottery.

1 Like