Forefront Treasury Diversification Update
Thanks everyone for the feedback, comments and thoughts. Raising in public has been an amazing learning experiment, we are aiming to document this process and produce a recap with key takeaways.
To recap, along with posting the original proposal in the forum for an open discussion around the details and implications, we’ve hosted two separate hangouts on our discord with potential partners. Recordings of both hangouts are now available on our discord #historian channel, and can be accessed by any community member.
The following revision is the result of many internal discussions and community feedback; a follow up hangout to discuss these changes and final details will be happening this Tuesday the 24th at 9AM PT / 12PM ET during our weekly tea time call. Join us!
Proposal Revision
- Revised Fully Diluted Network Valuation (FDNV) at $20M;
- Token exchange at premium $2 (same terms for strategic partners and community);
- Aiming for a $2M capital raise in exchange for 1,000,000 FF tokens;
- Allocation remains the same: 80% strategic partners, 20% community round. For the community round, if the total amount of 200,000 FF is not fully filled, the remaining allocation will be rolled over to strategic partners;
Additional details of the original proposal remain unchanged.
Motivation
1) This will allow us to whitelist key valuable angels partners that we were aiming to bring onboard and that have expressed interest earlier but that we couldn’t accommodate.
2) Adjust the valuation at a premium token sale following the community feedback;
3) An extended capital raise for a longer productive stables runway;
4) Exchange a lower percentage rate of the treasury tokens at this early stage;
Next steps
We will confirm and finalize the list of partners and their respective allocation distribution prior to the Snapshot proposal, and share with the community for final revision.
This Tuesday we are hosting another Tea Time community call to discuss and finalize details of the proposal and provide more clarity on community round process and eligibility. We will also be joined by additional angels and strategic investors.
After hearing feedback from the community and iterating as necessary, the proposal will go to a Snapshot vote for a formal decision on Wednesday, August 25th at the earliest.
