Q. How do I make an investment in the treasury?
A: Our wallet is here: 0x39AA221a7A1655A3c828A0B2f31fa34c7667Eeda. Contact @UncleEther#1865 on Discord to have your contribution recorded.
Q: What is being done with ETH collected from the mint?
A: The Pantless DAO uses funds to expand its vault holdings, building long-term value for members.
Q: What are the tokens?
A: The DAO will mint a series of ERC-721 tokens carrying governance rights in the DAO and ownership rights in the treasury. There are founders' tokens and standard tokens. Founders' tokens were available to participants in the Mega Team (the playground event) and donors to the scam victim fund. They're no longer available.
Q: What is the token supply?
A: This matter will be settled shorty before the token launch, but we intend to begin by releasing 2,250 - 5,000 memberships and release additional memberships over time.
Q: If we release more tokens, won't that reduce my ownership share of the treasury and my voting power?
A: Yes, but it will not reduce the value of outstanding membership tokens. This is because new members will be required to purchase their membership at a price that is proportional to their share in the ownership of the treasury. In this way, the treasury grows as new members join in a way that does not deflate value for current members. We will periodically reevaluate membership issuance in light of these considerations.
Q: What will the tokens cost and what are they worth?
A: The initial mint cost for token will be 0.1 ETH for those participating in the seed phase. The price will be re-evaluated as more memberships open up. The value of a membership depends on people’s perception of the value of the DAO’s vault holdings and their interest in participating in the DAO's mission and vision.
Q: Why should I consider depositing my creature in the vault?
A: If you deposit your creature in the vault, the DAO will credit you with the agreed value of that creature. You will then be whitelisted to mint DAO tokens just as if you had contributed the same amount of ETH. Because membership in the DAO comes with ownership rights over the DAO treasury, your tokens are backed by our creatures and will be worth at least as much as our treasury is worth. If creatures go up in value, so should your tokens. The reason people are willing to send creatures to the vault in exchange for tokens is that they know that DAOs are receiving tons of attention these days and often DAO membership tokens are being bought and sold at prices significantly higher than the value of their respective treasuries. We cannot speculate on such things with regard to the Pantless DAO memberships, but it is an interesting aspect of the current NFT space that has made many of our members see holding our tokens as a promising thing.