Proposal to Pay Previously Approved Grants

Shutter DAO DAO Proposals
1

Dear Shutter DAO Community,

I bring forth a proposal crucial to our community’s integrity – the transfer of funds to fulfill previously approved grants. This proposal ensures the timely disbursement of funds to Tailored Agency and Artis, as per our community’s decisions in previous forum proposals and snapshot votes.

The transfers outlined adhere strictly to the designated purposes and unlock conditions, utilizing Fractal for secure execution. Our motivation lies in upholding our commitments to partners and contributors, as evidenced by the clear consensus in past snapshot votes.

–

Forum Proposal Author: Nhan Vu

Forum Proposal Created: 27 Feb 2024

Title

Proposal to Pay Previously Approved Grants

Proposals

A(1) Transfer 150,000 SHU to Tailored Agency

Purpose: KOL Marketing

Amount: 150,000 SHU (one hundred and fifty thousand SHU)

SHU Token Address: 0xe485E2f1bab389C08721B291f6b59780feC83Fd7

Unlock: 100% Unlocked on 18 March 2024

Chain: Ethereum Mainnet

Tailored Agency Receiving Address (Ethereum Mainnet): 0x4a356947348d1d17d8989E54720b4e76cb2857e1

A(2) Transfer to 15,000 USDC Tailored Agency

Purpose: KOL Marketing

Amount: 15,000 USDC (fifteen thousand USDC)

USDC Token Address: 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48

Unlock: NA

Chain: Ethereum Mainnet

Tailored Agency Receiving Address (Ethereum Mainnet): 0x4a356947348d1d17d8989E54720b4e76cb2857e1

B Transfer to 300,000 SHU to Artis

Purpose: Pre-LBP Advisory

Amount: 300,000 SHU (three hundred thousand SHU)

SHU Token Address: 0xe485E2f1bab389C08721B291f6b59780feC83Fd7

Unlock: 10% Unlocked on 18 March 2024; 90% Linear Unlocking Over 24 Months

Chain: Ethereum Mainnet

Artis Receiving Address (Ethereum Mainnet): 0x1530f792f85b9935f865d5de7e8cB9B0bca90C25

C Transfer to 5,000 USDC to Artis

Purpose: Post-LBP Market Making (March 2024)

Amount: 5,000 USDC (five thousand USDC)

USDC Token Address: 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48

Unlock: NA

Chain: Ethereum Mainnet

Artis Receiving Address (Ethereum Mainnet): 0x1530f792f85b9935f865d5de7e8cB9B0bca90C25

Motivation / Background

A - Proposal & Snapshot Vote

Forum Proposal Author: Jiraiya - Founder at Tailored Agency

Forum Proposal Created: 31 Jan 2024

Forum Proposal Link: Proposal for Grant to Tailored Agency (LBP Marketing Services)

Snapshot Vote Creator: acidbird (own.fund) Snapshot Vote Status: Closed (2 - 5 Feb 2024) (88.22% “For”) Snapshot Vote Link: Snapshot

B - Proposal & Snapshot Vote

Forum Proposal Author: Cornelis Theodorus van der Klooster, Artis

Forum Proposal Created: 29 Jan 2024

Forum Proposal Link: https://shutterdao.discourse.group/t/provide-a-grant-to-artis-for-pre-lbp-advisory-services/219

Snapshot Vote Creator: acidbird (own.fund) Snapshot Vote Status: Closed (2 - 5 Feb 2024) (60% “For”) Snapshot Vote Link: Snapshot

C - Proposal & Snapshot Vote

Forum Proposal Author: Cornelis Theodorus van der Klooster, Artis

Forum Proposal Created: 29 Jan 2024

Forum Proposal Link: https://shutterdao.discourse.group/t/provide-a-grant-to-artis-for-post-lbp-market-making-services-for-shu-token-for-six-months/220

Snapshot Vote Creator: acidbird (own.fund) Snapshot Vote Status: Closed (2 - 5 Feb 2024) (30% “Artis” in multiple choice vote) Snapshot Vote Link: Snapshot

Platform

Fractal (on-chain transfer will be executed if the proposal is approved)

Vote

Vote “YES” to Pay Out Grants to LBP Suppliers

OR

Vote “NO” to not transfer

OR

Vote “Abstain” if you do not have an opinion but want to help the vote reach quorum

Note

The underlying proposals have already been discussed and approved by Shutter DAO 0x36. The community should consider voting “Yes” on this proposal - unless there are significant new reasons or new information for voting against the proposal.

1 Like
2

Thanks for bringing this up. Definitely important to follow up on these things.

I voted against KOL marketing and still feel strongly against it and I am still sad that we ended up with such a big amount of people voting “for” this proposal. I am personally strongly opposed to the use of KOLs in general since it only harms crypto in the bigger picture in my mind and feels scammy even in some cases. And a 100% unlock of the 150k SHU on March 18th? Curious to hear what people were thinking when they voted yes for this. I would probably vote “no” to this proposal on Fractal unless “Tailored Agency” would agree to jump on the same vesting schedule as everybody else. @Jiraiya How would you guys feel about this?

EDIT: Ultimately I will honor the decision of the DAO on Snapshot, and let this be a lesson to myself to push harder against proposals that I disagree strongly with in the future.

2 Likes
3

Hey Czepluch,

Thanks for sharing your views. It’s well received. Let me address each point.

I understand that it’s not ideal when something gets passed whilst you hold a strong/firm position against that very thing.

Re: KOL Marketing.

Whilst some KOLs utilize their brands in an unprofessional way to extort funds from their followers & communities, this is certainly not the case with the individuals I work closely with.

I can agree with you on the basis that not all KOLs in the space are good actors, and therefore in some cases ‘scammy’.

However, I’d encourage you to review all of the content produced (Proposal for Grant to Tailored Agency (LBP Marketing Services) - #15 by Jiraiya) to establish whether or not the content was designed to educate their respective communities on the unique value proposition of Shutter, or to exploit.

Re: 100% unlock of the 150k SHU.

I’m not sure what the ‘same vesting schedule’ that you mention entails.

However, it is worth noting that on my proposal to act as a curator (separate to this marketing proposal), that I’d be happy to lock up the $SHU tokens that is received by a curator for a period of 3 months, or until $SHU achieves an FDV greater than $500m.

In this case, as the DAO has chosen another curator, they currently hold significantly more tokens than the proposed 150k SHU tokens that are fully liquid, with no vesting or lock-up.

In light of this, I would not feel comfortable having the same vesting schedule as everybody else.

It is worth noting that I would like to work alongside Shutter in the long-term, to further establish your brand, presence, and adoption in the months and years to come and to do that I will be submitting another proposal to facilitate this. I believe my actions upon receiving the 150k SHU will reflect my long-term alignment with the DAO.

Thanks for your thoughts, comments, and questions @czepluch. I hope that you’ll stand on my side when I submit the next proposal to continue marketing activities for Shutter.

Sincerely yours, Jiraiya

1 Like
4

We should pay these “grants” as they are voted unless there is major non-delivery

Just needs to make the transfers of grants are same as the agreed terms (there are few revisions in some case) and service has been delivered

1 Like
5

The executable code for the agreed payout would be

Transaction 1 - Approve 450,000 SHU to VestingPoolManager


Target Address: 0xe485E2f1bab389C08721B291f6b59780feC83Fd7

Function Name: approve

Function Signature: address,uint256

Parameters: 0xD724DBe7e230E400fe7390885e16957Ec246d716,450000000000000000000000

ETH Value:

Transaction 2 - Transfer SHU into the Vesting pool for Tailored Agency


Target Address: 0xD724DBe7e230E400fe7390885e16957Ec246d716

Function Name: addVesting

Function Signature: address,uint8,bool,uint16,uint64,uint128,uint128,bool

Parameters: 0x4a356947348d1d17d8989E54720b4e76cb2857e1,0,false,1,1710720000,150000000000000000000000,150000000000000000000000,false

ETH Value:

Transaction 3 - Transfer SHU into the Vesting Pool for Artis


Target Address: 0xD724DBe7e230E400fe7390885e16957Ec246d716

Function Name: addVesting

Function Signature: address,uint8,bool,uint16,uint64,uint128,uint128,bool

Parameters: 0x1530f792f85b9935f865d5de7e8cB9B0bca90C25,0,false,103,1710720000,300000000000000000000000, 30000000000000000000000,false

ETH Value:

Transaction 4 - Transfer 15,000 USDC to Tailored Agency


Target Address: 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48

Function Name: transfer

Function Signature: address,uint256

Parameters: 0x4a356947348d1d17d8989E54720b4e76cb2857e1,15000000000

ETH Value:

Transaction 5 - Transfer 5,000 USDC to Artis


Target Address: 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48

Function Name: transfer

Function Signature: address,uint256

Parameters: 0x1530f792f85b9935f865d5de7e8cB9B0bca90C25,5000000000

ETH Value:
1 Like
6

I will agree with the payment as far as they delivered and hit the target that we set at the first place (but we do need have someone to track the process and valuate the work). Secondly, I do not think we ever agree to pay by the shu and 100% unlock at march. Could you send vote link of it.thx

2 Likes
7

Just to confirm here that the addresses check out for Artis’ payment and grant (as a safety net that not someone from the DAO is using this information to send themselves voted through funds).

2 Likes
8

The proposals and votes for both Tailored Agency and Artis can be found here:

Tailored Agency - Shutter DAO 0x36 did not ask Tailored Agency to modify their proposed SHU unlock schedule (100% unlock on 18 March 2024).

Artis - Shutter DAO 0x36 asked Artis to modify their proposed SHU unlock schedule (from 100% unlock on 18 March 2024 to the same unlock schedule as Genesis Allocations), and Artis agreed.

1 Like
9

This proposal has been put to a vote on Fractal:

Voting will be opn until 8 March 2024 at 10:45 CET:

1 Like
10

At Kleros Labs we will vote for this proposal. The targets were matched and it’s important that the DAO should follow through.

However, regarding the vesting schedule we do think it would have been better to have a vesting similar to the Genesis. I guess we should be more careful in our due diligence process for the future and have a proper process now the rush of LBP is behind us.

2 Likes
11

I voted against both of these proposals on Snapshot because they felt rushed and lacked clear KPIs. The DAO was short on time at that moment with many things to discuss, so the imperfection in the proposals was likely situational, not systemic. An understandable situation that we likely won’t see again.

I will vote for this proposal to pay these service providers because it’s crucial the DAO respect consensus and previous DAO decisions in situations like this.

I also want to state that I feel both entities delivered very well on their commitments to the DAO, and I personally thank them for their contributions. :pray:

3 Likes