[Temperature Check] Fjord Foundry LP Bootstrapping

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[Temperature Check] Launch new BSN DAO Token

Introduction

It seems like Blockswap DAO has been struggling with liquidity problems for a while now. Despite trying various methods to raise liquidity, including a campaign with Merkl, they’ve been unsuccessful. High sell pressure from investors looking to leave the project, despite its strong technology, has worsened the situation. With trust and belief lost among existing investors, I would consider refreshing the token in collaboration with Fjord Foundry

How

I propose launching a fresh BSN token. Community members will have a window to participate in a ‘seed sale’ until the idea is approved for launch on Fjord. Once the community votes in favor, the initial BSN price will be set at that level. A snapshot of all current holders’ wallets will be taken upon approval.

Following this, a bootstrapping event will commence on Fjord Foundry. Holders will undergo a lock period for a specified duration from the outset.

Benefits

Launching a fresh BSN token will attract new attention to our Restaking/Staking DAO with a positive narrative. It will raise new liquidity and enable us to ramp up our efforts. By doing this, we eliminate existing sell pressure, cultivate a completely new and vibrant community, and gear up for strong momentum in the coming months.

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Interesting proposal. What will happen to existing tokens?

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Old token will be abandoned. Old token holders can claim their new BSN tokens with a monthly cliff (to be discussed).

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Great idea. Blockswap has always had the tech, but struggled with Token and liquidity. I’m all for an initiative to bootstrap token liquidity and this swap idea is the best I’ve seen yet. As long as existing holders receive an = % share of new supply, it makes perfect sense!

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I disagree, old token holders shouldn’t be vested. This was never the plan when they bought in and shouldn’t be penalised for it.

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Hi @Marc0

I understand your perspective. But you have to understand that new investors don’t buy in if they know they would be dumped upon by early buyers. So thats why vesting would be good. To give confince to new investors but also to have a healthy growth.

There is no reason to do a bootstrapping if we dont give a lock period for early buyers.

Exactly by your way of thinking is the reason why this is a good way to deal with sell presure. I come from the perspective of health and steady growth of the dao.

I do think we need to figure out a good and decent vesting period.

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Imo this is the last chance we have to grow as a dao if we don’t receive anymore support of blockswap labs. We need money to keep the dao alive.

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When can we vote on this? Or BSN is done for good?

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