[BIP-004] Investing 24.5 ETH into $MVI

Snapshot

Status: Passed

Author: BuzzedMo

Discussions-to: Sentiment Check: Investing 10% of funds into $MVI

Created: August 30, 2021

Buzzed Summary

We invest 10% of our initial honeypot ETH (24.5) into $MVI, the Metaverse Index, from the Index Coop.

Abstract

This is a proposal suggesting that we put 10% of our initial capital (24.5 ETH) to work by investing it in $MVI, a market cap weighted index capturing the tokens of top metaverse projects.

Details about the index can be found here and here.

Motivation

The Metaverse Index would give us broad exposure to the metaverse, and let us catch the upside of great work happening in NFTs, Gaming, and other metaverse categories with the benefit of being passive.

Specification Overview

We purchase $MVI tokens from Index Coop via minting directly on TokenSets.

Rationale

We should generate returns for bear holders, otherwise why do we have such a treasury? We can passively invest in $MVI and capture upside from projects like Axie Infinity, Rarible, and Decentraland.

Copyright

Copyright and related rights waived via CC0.