# Draft Proposal: XIP#21 Mint aFLOOR

**URL:** <https://forum.nftx.org/t/draft-proposal-xip-21-mint-afloor/365>\
**Category:** Proposals\
**Created:** [February 11, 2022, 1:48pm UTC](https://forum.nftx.org/t/draft-proposal-xip-21-mint-afloor/365 "2022-02-11T13:48:17Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![0xProposer](https://yyz2.discourse-cdn.com/flex030/user_avatar/forum.nftx.org/0xproposer/32/113_2.png) [@0xProposer](https://forum.nftx.org/u/0xProposer)\
**Post date:** [February 11, 2022, 1:48pm UTC](https://forum.nftx.org/t/draft-proposal-xip-21-mint-afloor/365/1 "2022-02-11T13:48:17Z")

</div>

# Summary

The FloorDAO community is seeking approval from the NFTX DAO to mint FloorDAO’s valueless governance token “Alpha Floor” (aFLOOR) via an NFTX onchain governance vote.

The minted aFLOOR will then be pooled in FloorDAO’s upcoming Copper launch. The aFLOOR token will act as a pre-launch governance token, allowing holders to vote on the deployment of FloorDAO.

# Rationale

As outlined in FloorDAO’s [tokenomics post](https://blog.floor.xyz/floor-tokenomics-66b80adbad27), a key goal for the DAO is to be maximally decentralized from deployment through to governance and operations. By minting the token via an onchain vote, FloorDAO will ensure its inception is decentralized.

FloorDAO aims to establish deep liquidity for PUNK and other blue chip NFTs using the NFTX protocol at its core. This liquidity will benefit NFTX in the following ways:

- Higher volumes due to lower price impact on trades
- Higher yields for Inventory and Liquidity Providers
- Composability for blue chip NFTs via NFTX
- Greater awareness of NFTX protocol and the use-cases that it unlocks

# Effect

## Opportunity

- With this vote, NFTX can seed the creation of a high-impact ecosystem project with the potential to further establish NFTX’s liquidity moat.

## Risks

- An exploit in FloorDAO leads to loss of funds, negatively impacting the reputation of NFTX.

## Specifications

- Call `initialize(0xA9d93A5cCa9c98512C8C56547866b1db09090326)` on the aFLOOR contract to send 500,000 aFLOOR to the FloorDAO multisig.
- Transfer of the 500 ETH loan from XIP-15 to the FloorDAO multisig.

aFLOOR contract: **0x0C3983165E9BcE0a9Bb43184CC4eEBb26dce48fA**  
FloorDAO multisig: **0xA9d93A5cCa9c98512C8C56547866b1db09090326**

# Funding request - No - Implementation Requires Funding

This request requires no funding.

# Communication

Discord: NFTX, [FloorDAO](https://discord.com/invite/floordao)

# Quorum

Minimum Quorum: At least 5 votes

Passing Threshold: More than 50% must vote in agreement for the XIP to Pass. For changes to the NFTX contract, more than 70% must vote in agreement for the XIP to pass.

_Poll ([view on site](https://forum.nftx.org/t/draft-proposal-xip-21-mint-afloor/365/1))_