Shut Down and Liquidate MAYC v2 Vault

Proposals
1

Author

Summary

  • This proposal is to shut down the Mutant Ape Yacht Club v2 vault by liquidating the NFTs and allowing vault token holders to claim the proceeds pro-rata.

Rationale

  • The vault has no liquidity currently and hasn’t had significant liquidity for over a year. Almost $15,000 worth of user funds remain in the vault, and with the new v3 infastructure being phased in it’s unclear if/when vault token holders will be able to exit their positions if this proposal is not passed.

Effects

  • Opportunity: Help early users recover illiquid funds.
  • Risk: The price of Mutant Apes could go up after the vault is liquidated.

Specifications

  • This proposal is supported by 0x76b2cfeE86f8073091cf575aC5aaFc748e5e981e and me (0x5A4e3ec056a6FE01e7a601EfC66872cBf1C7E0a8). We will deposit another NFT in order to gain control of a majority of the vault tokens. We will both vote for the proposal on Snapshot to prove our majority support at the vault level.

  • If passed the procedure would be for NFTX team members to accept the top offers on Opensea Pro and then put the eth in a smart contract for vault token holders to claim.

Funding Request

  • The only costs for this proposal are gas fees.

Quorum and Governance Notes

  • Minimum Quorum: At least 5 votes
  • Passing Threshold: More than 66.6% (2/3rds) 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 towards on-chain voting.

(edit: added poll)

  • Yes, proceed with proposal
  • No
0 voters