Repost/edit from our Medium account.
“Do not neglect to do good and to share what you have, for such sacrifices are pleasing to Squiggle DAO.” — The Founding Scrolls
From the Interim Governing Council
#1 — Squiggle Square
Squiggledom, The Internet.
Re: Power, greatness and sacrifice.
As the final pieces of Squiggle DAO fall into place, our greatest challenge and opportunity stands before us.
Our purpose is clear.
Together, we stand to bring rainbow glory to the on-chain generative art world, to build a large and valuable collection of the best on-chain generative art and to be the spark that launches a new wave of art and artists.
As stewards of this potential future, the challenge before us is real … but the choice for each of us is simple:
Are we prepared to sacrifice for shared rainbow glory?
Today, we call on all who wish to have a say and impact on the future of Squiggle DAO to pay tribute.
Contribute a Squiggle to the Squiggle DAO Treasury and earn your place in history (along with a glorious $SQUIG bounty).
With Hearts Draped in Rainbows,
~ Squiggle DAO Interim Governing Counsel.
Squiggle DAO boasts more than 600 members, it’s now time for members to take the lead in proposing and making decisions for the DAO.
Governance 1.0 will enable SQUIG holders to propose and participate in DAO activities via Snapshot, a popular DAO-lite framework launched by Balancer Labs and subsequently open-sourced.
The SquiggleDAO Snapshot: https://snapshot.org/#/squiggledao.eth/
While currently there are no proposals, we expect this will change very soon. Some key initiatives include:
The initial threshold to submit a proposal for a governance vote is set at 10,000 $SQUIG. This is designed to ensure those with skin in the game have the opportunity to have greater impact on the DAO. The DAO will have the ability to change this at any time.
But how do I put skin in the game?
The Squiggle DAO Treasury holds the tokens and NFTs governed by the DAO. This asset base is what enables the DAO to go into the world and start to do amazing things.
As of today, the primary asset of the Treasury is SQUIG tokens but that is about to change…
The initial goal of Squiggle DAO is to build the world’s largest generative art collection. Our ambitious goal is to acquire 1000 pieces of generative art as specified by the community, starting with Squiggles.
Today, Squiggle DAO is announcing a program whereby any eligible $SQUIG holder can increase their voting rights in the DAO by contributing a Chromie Squiggle to the treasury.
Contribution of a Squiggle is a sign of comittment to the Squiggle DAO cause. Contributors are rewarded with more influence in the DAOs decision making and their contribution will have a more direct impact on the DAO’s success.
Note:* Reminder SQUIG is a governance token and does not confer any rights to revenue, profit or other value. SQUIG do not represent a direct claim on the DAO treasury.*
This will be the first of two contribution rounds. This round will only be available to existing SQUIG holders so that we can reward those who have already participated in the DAO.
This contribution round runs from April 20th 8AM PST to April 23rd 8AM PST. For more information, please refer to the Contribution Round documentation:
Eligibility: Holders of 1000 SQUIG as of April 19th, 7:45AM PSTContribution Limit: 1 Chromie Squiggle per eligible addressAvailable SQUIG tokens: 500,000 (5% of supply)Contribution Reward:
Contribution Round 2 will be announced shortly and will be open to the broader public.
The following bold individuals have already committed generous contributions to the DAO Treasury in support of our mission.
As of today, the SquiggleDAO Treasury already has 25 Squiggles committed by our launch partners.
We’re also excited to announce that Snowfro, the artist behind Chromie Squiggles and ArtBlocks has also offered to mint 5 fresh Squiggles for the DAO Treasury!
We will host a Live Minting Party on Thursday April 22nd at 9pm CT. Details to follow.
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And the $SQUIG Token contract can be seen at: https://etherscan.io/token/0x373acda15ce392362e4b46ed97a7feecd7ef9eb8?a=0x56fcb471a9dde74045830439ad6612c9aad53c19