TIP-33(b): Divest gFLY and Acquire Bridgeworld’s Genesis Legions from BattleFly DAO

Summary

This community counter proposal suggests a minor but important amendment to TIP-33 to better protect the DAO from potential legal issues from BattleFly. Considering recent information, this TIP proposes the following:

Present the scope of a mutual release to the DAO for voting before execution.
Contingent upon the execution of the mutual release: Transfer 511k gFLY which was obtained via TIP-16 and is currently vesting to BattleFlyDAO in exchange for 7x Rare Genesis Legions and 2x Special Genesis Legions.

Rationale

It is essential to address the possibility and risk of possible legal actions by BattleFly that was later communicated with the TreasureDAO community, in addition to the original rationale provided by the Treasure DAO core team in TIP-33.

Mitigating Legal Risks

Engaging in legal action can be both time-consuming and costly and will distract the Treasure team from its mission of executing TreasureDAO’s vision. Finding a solution to avoid litigation not only in the present but also in the future is in the best interest of the DAO. A mutual release should be adequately scoped and made public so that the DAO can evaluate its merits in safeguarding Treasure against BattleFly and any associated parties.

The current proposal (both its original and amended forms) is flawed because the DAO only approves the action of the transfer arrangement which is still subject to a “satisfactory mutual release”. This mutual release should not be drafted and agreed upon behind closed doors by both core councils of TreasureDAO and BattleFlyDAO as it has direct implications to the DAO. It is crucial that the DAO votes and signs off on the scope of the mutual release, ensuring transparency and alignment with the DAO's interests.

Proposal

Disclose the scope of a mutual release to the DAO for voting on it before execution:
- A mutual release should be signed to free both parties of any litigation based on past, current and future actions. A summary of the scope of the mutual release should be presented to the DAO and be voted on. The signing off of the mutual agreement from the DAO is a prerequisite before transfer assets can be approved. This is to ensure the spirit of decentralization, transparency, and to strengthen the DAO.
- The drafting or designing the mutual release should be coordinated by the core councils, and the DAO is not required to be part of it. However, the final summary should be made public to ensure it satisfactorily protects both the DAO and its core contributors.
Transfer 511k gFLY obtained via TIP-16 and is currently vesting to BattleFly DAO in exchange for 7 Rare Genesis Legions and 2x Special Genesis Legions.
- The same 6-month TWAP calculation and other details should be used as put forth in TIP-33.

Voting Period

Voting commences now, ending Monday, December 11, 2023 at 15:30 UTC (see local time via timestamp: 1702308600).

Voting Eligibility

Only holders of MAGIC staked in the Harvesters or the TreasureDAO Governance Staking contract, and MAGIC-ETH SLP on Arbitrum can vote.
gMAGIC will be calculated on a 1:1 basis across all options

start

December 6, 2023

3:25 PM

end

December 11, 2023

3:30 PM

Voting

off-chain

Voting type

single-choice

Voters

773

Votes

3,766,035

Final Votes

closed

For

3.8M gMAGIC

100%

Against

146.1 gMAGIC

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

About Voters Analytics

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Voting

100,000

Voting type

100,000

Starts in

100,000

Voters

1,000,000

Votes

1,000,000

Votes

Choice label

TICKER

100%

Choice label

TICKER

100%

Choice label

TICKER

100%