Allocate a quarterly budget to private seeds

Summary: This proposal aims to allocate a quarterly budget to private seeds.

Context: Every public investment will be voted with BPGPs or BPIRs for partnerships according to the new governance framework.

However, some early investments like pre seed or seed sales can’t be disclosed until some time after the investment, which is why the LAB is handling these deals. The details about these investments are shared in the reports as soon as possible.

Rationale: As mentioned in the Q1 report, the Lab invested 500K$ in early projects such as Keepers, Everai, Genopets, Footium and Battlefly.

There were also some early investments on CyBall and Guild of Guardians, but also a growth of BlackPool’s stack in Defi Kingdoms.

Here is the breakdown of the total investment in Q1 2022

Project Type Chains Assets Amount Currency Value in USDC
Cyball Early BSC NFT Investment 10 ETH 31,286.41
Guild of Guardians Early Immutable X NFT Investment 10 ETH 31,286.41
Cyball Early BSC NFT Investment 55,000.00 USDC 55,000.00
Guild of Guardians Early Immutable X NFT Investment 10 ETH 31,408.76
DeFi Kingdom Growth Harmony, Avalanche JEWEL Tokens 0.1 ETH 320.18
DeFi Kingdom Growth Harmony, Avalanche JEWEL Tokens 39.9 ETH 127,751.62
DeFi Kingdom Growth Harmony, Avalanche JEWEL Tokens 0.1 ETH 320.18
DeFi Kingdom Growth Harmony, Avalanche JEWEL Tokens 34.9 ETH 111,742.65
DeFi Kingdom Growth Harmony, Avalanche JEWEL Tokens 30 ETH 99,868.02
Sub total public investments 488,984.23
Project Type Chains Assets Amount Currency Value in USDC
Genopets Seed Solana NFT Investment 100,000.00 USDC 100,000.00
Footium Seed Ethereum NFT Investment 100,000.00 USDC 100,000.00
Keepers Seed Arbitrum NFT Investment 12.6 ETH 32,653.43
Battlefly Seed Arbitrum NFT Investment 75.1 ETH 196,789.34
Everai Seed Ethereum NFT Investment 15 ETH 47,113.14
Sub total privates investments handled by the LAB 476,555.91
Total BlackPool DAO investments in Q1 2022 965,540.14

This proposal aims to create a 2M USDC budget handled by the Lab, giving them the ability to react quickly on interesting opportunities, the same way it was done for the previous seed sales.

These 2M USDC would be held in the biggest protocols like Aave, Curve or Stake DAO, to generate a yield on it while keeping the position liquid and accessible anytime.

An update of the funds spent will be done at the end of each quarter. Once all the datas will be available to share, the Lab will work on a document about the budget spent, the performances of each investment, and a new budget proposal.

Means: The resources needed for this proposal are 2M USDC - No dev work

Technical implementation: An update of the funds spent will be done at the end of each quarter. Once all the datas will be available to share, the Lab will work on a document about the budget spent, the performances of each investment, and a new budget proposal.

Voting options:

  • Yes, accept the Lab budget
  • More discussions needed
  • No, do nothing
  • Abstain

0 voters

3 Likes

Hello and thank you for the proposal,
in order for BlackPool to invest in promising projects as soon as possible and to continue to have a central position in this ecosystem, it seems to me essential to allocate a budget to the LAB.
The amount is for me in line with the need to invest as soon as possible and the multiplication of projects with high potential.
Total confidence in the LAB’s expertise to unearth future gems.

3 Likes