Mutant Cats Newsletter
Edition 28
Welcome back Cats! We have a full docket of topics to inform the community about today! With that said, a quick reminder that since NFT NYC we have a lot of new names showing up to our discord so please bear with us as we rehash and go through some background information on certain topics. Thank you for coming by and don’t forget to follow us on all of our socials.
https://twitter.com/mutantcatsDAO?s=20&t=z3JWbpFi8Cjn4VqRMRvMyw
Gorilla Retirement Program
The time has come Cats. Since the Mutant Cats InDAOpendance day, our team has worked extremely hard to rectify the previous mistakes of our old development team. We took swift action to address things like terminating Cured Cats, our $FISH token, and of course giving our community the freedom to choose what we were to do about the Mutant Gorillas. Before we discuss what solutions we came up with let us give some background information on the Mutant Gorillas.
The Mutant Gorillas were the 2nd collection that our old development team rolled out during the Mutant Cats meteoric rise. Let’s be 100% transparent. The release of this collection was a money grab. Yes, the sales from the Mutant Gorilla auction did help fund the DAO but they did not add ANY value to the Mutant Cats NFT or the DAO beyond the money. Originally, if you staked your Mutant Gorilla, in 60 days you would receive a serum. This serum was supposed to be used to “Cure” your Mutant Cat and transform them into a Cured Cat which was the next collection on the road map. After the events that led to our InDAOpendance, the DAO immediately took action and made some difficult decisions. Each decision that was made was for the betterment of the community and in turn is better for the DAO.
This process has been a collaborative effort. We were in constant communication with the community on various solutions for the Mutant Gorillas. The first option we explored was potentially finding a 3rd party buyer. The challenge with this would be actually finding a buyer to a collection that has no intrinsic value, trading volume and other important things. The next option we really considered was an exchange of MG to MC. This was an option that we really considered. There were two main issues with this particular option. The first being, having everything on chain. With gas prices as of late, this option would not be viable. The second reason was Gorilla holders would lose their NFT and many expressed wanting to keep their Gorilla. With these two reasons we have decided to pursue another option. The main thing we had to balance was; what is best for the DAO and what is best for our community.
The team and community decided that we would designate a certain amount of $APE to be distributed to those who sign up using our premint link. We choose this option because of our current situation with $APE staking. We did not want the DAO to take a massive hit finantially on rectifying this error made by our previous devs. Although, we did feel it was fair to do something. Just like with the termination of our $FISH token, we felt that it was necessary to do right by our community, especially those loyal members who have been with us since the start. We held a raffle for the termination of $FISH and now with Mutant Gorillas we are providing an allotment of $APE token to be distributed to all Gorilla holders. As voted on by the DAO, an allotment of 10,000 $APE tokens will be disturbed equally to all qualifying Gorilla holders. To qualify, you must sign up using our premint link, connect your wallet, like and retweet the qualifying tweet and you are all set! After two months, everybody who had a chance to sign up will receive their portion of 10,000 $APE.
Thank you to the community for your patience. We know that a few $APE is not as much as some spent on Gorillas but this is the best we can do with the situation we have in front of us. Any questions please reach out to our amazing Mod team! Premint link below.
Vote of Confidence Memorandum
Back in 2022 our Cat Board proposed our first “vote of confidence”. This vote of confidence was simply to let the community decide the direction for the project. Continue building or liquidate our assets. The community overwhelmingly voted to keep building the Mutant Cats. With our story, our treasury and this community; we know we have the potential to turn the Mutant Cats into something special. What that is will only be determined with time.
The most recent vote of confidence passed with an absurd number of 99.15% approval. This includes breaking a recent record for over 200 unique wallet addresses. Like all projects, we were seeing less engagement across the board. With a few initiatives we have slowly seen our engagement pick up so thank you for those who came out and voted. The board put together a document laying out our past and future initiatives. These initiatives are aligned with our three pillar mission.
1. Building a community-driven entertainment brand that combines real-life experiences with the Web3 world through extensive IP creation.
2. Establishing long-term partnerships with real-world brands, events, gaming companies, and Web3 entities.
3. Strategically investing DAO funds into high-growth potential digital assets.
We highly recommend you take a look at the full document posted here on discord.
https://discord.com/channels/894337851762802718/894716961391517696/1106335520969207880
VX Cats (sandbox)
Another huge milestone has been completed in regards to our partnership with Tempest Studios. They are the company that built our Sandbox Social Hub. Recently, they released the much anticipated VX CATS! Your Mutant Cat NFT is now a playable avatar within the Sandbox game! As we explore the metaverse, it is comforting to know we can explore this universe with our own Mutant Cat! Very cool to see our Mutant Cats come to life inside of the Sandbox game! You can find a step by step guide on how to access your VX Cat below:
https://twitter.com/mutantcatsDAO/status/1647657883478228997?s=20
ETH staking
As voted on, our DAO has successfully staked 400 ETH with an APR of 6%. We are staking through Lido which is the largest ETH staking platform. Other than the safety of our ETH, we choose this staking protocol because of the compatibility with our Gnosis Safe multi signature wallet. One of the reasons why we previously chose to not stake our ETH was purely because as a DAO we have a responsibility to protect our communities assets. We are not a high risk trading account. We cannot make the same decisions as we might make with our own assets. Safety and security of the DAOs assets are our #1 priority. The community voted to stake a percentage of our ETH and this has now successfully been executed.
Thank you everybody for coming by! Don’t forget to join our weekly poker games by reaching out to Mod to receive the “Poker Friend” tag on discord. You will then be notified when we host our weekly game! Also, stop by our “proposals” tab on discord to join in on our discussions about the DAOs next moves! If you are new to the community, we have posted a few newsletters about our history and other background information. Till next time!
