| Proposal Title | Author(s) | Phase | Type | Date Created |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- |
| Sale of $500K Worth of SHU Tokens to Alphemy Master Fund | Alphemy Master Fund | I | Off Chain | 05.07.2024 |
Summary
We propose Shutter DAO 0x36 sell $500,000 worth of SHU tokens to Alphemy Master Fund (“Alphemy”) via an onchain atomic swap - or any other method that is considered efficient by the Shutter DAO 0x36 and in accordance with regulation.
Our aim is to become more actively involved in the Shutter DAO 0x36, growth of the Shutter Network, and the development of the trading framework for the SHU token.
Purchase Terms
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Amount: Determined by market price, based on the 1-month average price of SHU tokens from 06.06.2024 to 05.07.2024 according to Coingecko average price across trading venues.
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Purchase Price: $500,000 (five hundred thousand dollars) (paid in USDC, USDGLO or other USD stablecoin approved by Shutter DAO 0x36)
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Vesting / Lock Up: None
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Conditions: None
Motivation
Objective
Alphemy seeks to acquire additional SHU tokens to enhance their ability to contribute to the Shutter DAO 0x36. Alphemy believes that a more active and engaged community is crucial for the success and growth of the Shutter Network. As an initial large contributor and active adviser to the Shutter DAO 0x36, Alphemy is thrilled to see the organic activity and the great minds that are building the project. We believe that with a “public-good” philosophy and our knowledge of the markets we can greatly help bring up a new roadmap for the Shutter token. The vision is that chains will have a tough time competing without being Shutterized or having a similar technology embedded. Shutter currently has a first mover’s advantage and we should take action on that while it lasts.
Rationale
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Support for Shutter Network: Alphemy firmly believes that Shutter Network could become a vital component for the ecosystem of EVM chains. By becoming more active participants, we want to help drive the project forward, fostering more development, activity, and engagement within the community.
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Roadmap and Proposals: Alphemy is committed to contributing to the development of proposals and a roadmap to attain increased trading and demand for SHU tokens, which is an essential component of Shutter’s further growth. This, in turn, should result in SHU price appreciation, given that Shutter Network’s product is continuously disseminated and adopted, which both are essential for Shutter’s success.
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Ability to purchase desired amount of tokens: The $500.000 purchase by Alphemy is difficult to execute on the open market given the very limited trading volume and availability of trading venues. Alphemy thus extends an offer to purchase tokens directly from the DAO.
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Additional liquidity to DAO treasury: The purchase would provide the DAO’s treasury with additional USD liquidity to support operations and runway. A sale of $500,000 worth of SHU tokens on the open market might be troublesome for the DAO to execute given the low current trading volumes, as it would create large sell pressure and would thus likely either take a very long time to execute or result in large negative price action.
Token Holdings
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Alphemy current SHU holdings: 14,365,122
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Alphemy future SHU holdings (assuming a purchase price of $0.0366): 28,008,775
Platform
Snapshot
Voting Type
Single Choice Voting
Voting Options
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Vote “Approve” if you think Shutter DAO 0x36 should sell $500K worth of SHU to Alphemy
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Vote “Reject” if you think Shutter DAO 0x36 should not sell $500K worth of SHU to Alphemy
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Vote “Abstain” if you do not have an opinion, but you would like to help the vote reach quorum.
License
CC0: This work is marked with CC0 1.0 as dedicated to the public domain.