Introducing Gringotts DAO: Do You Possess the Goblin’s Touch?
The goblins at Gringotts DAO have decided to open their doors to a select few brave enough to explore the vaults below. Do you possess the goblins touch?
Enter, stranger, but take heed
Of what awaits the sin of greed,
For those who take, but do not earn,
Must pay most dearly in their turn.
So if you seek beneath our floors
A treasure that was never yours,
Thief, you have been warned, beware
Of finding more than treasure there. ¹
Introducing Gringotts DAO
The problem. Owning a blue-chip NFT comes with high opportunity costs due to the unproductive nature of most NFTs. Fractionalization doesn’t fix this problem, as it requires marketing and it locks the asset for an unforeseeable time. Borrowing against your NFT works, but there’s often not enough liquidity.
A solution? Gringotts DAO is a community-led decentralized organization focused on becoming the #1 stop for high-value NFT holders to access liquidity by offering personal interactions and a point of contact for each loan. Some call this the goblins touch. While lending is the DAO’s first focus, we will expand into other areas such as NFT derivatives, fractionalization, and even incubating/funding new experimental projects around NFT financialization.
Goblins are members of the DAO that safeguard the vaults, square up the books and ensure Gringotts clients are well-served. We have already onboarded a cohort of goblins, including a number of NFTfi (a simple p2p marketplace for collateralized NFT loans) power users. As such, and in the near term, we expect to underwrite loans using the NFTfi platform. Goblins are the backbone of Gringotts DAO providing services to our clients.
Season 0: Opening the Doors to Main Hall
Communities have been integral to the development, growth, and sustainability of Web 3’s most important projects and we expect this to continue. As such, we have decided to open the doors to the main hall of Gringotts DAO. While the main hall appears grand, lined with marble features, the vaults that lie below are dimly lit. What lies below holds the contents of many treasures, secrets, and mysteries.
Our main objective and first mission for the DAO will be providing loans to NFTs via the NFTfi platform. Season 0 is all about proving out a concept and keeping things simple. Providing loans on a platform we understand, that are negotiated on a 1v1 basis, to blue-chip NFT holders (think Punks, BAYC, etc..) should allow the DAO to maximize upside, while minimizing downside risk. We have also been experimenting with bots and will soon be tranching yields. We have done our research and see immense opportunities around NFT financialization.
With the strategy in place for Season 0, we have decided to onboard another cohort of goblins into the DAO. The next wave of goblins will not only help us execute on Season 0 objectives, but will own the future seasons of Gringotts DAO. We goblins are a tight-knit bunch and will be diligent with whom we choose to onboard. We have outlined some of the traits we will be looking for in our 1v1’s below.
The future is bright. Grab a torch and help us light up the vaults below!
A Peek Into the Vaults
The future of Gringotts DAO hinges on our ability to execute on Season 0 and to grow as a tight-knit community. After all, we are just a bunch of lowly goblins experimenting with the future of DeFi and NFTs… While we won’t go into great detail behind our strategy (as this breaks the goblin code), we will give you a sneak peek into the vaults below.
- 1Q22: Secure $10 million in capital for the DAO
- 2Q22: Launch a token. Establish $20 million in volume
- YE22: Establish $100 million in volume and $10 million in premiums
As a community, we are aiming for $100 million in volume and $10 million in premiums by the end of 2022. What we do with the profits will be decided collectively, however given our goblin nature (being skilled with money and finances) we anticipate that capital will be directed toward generating sustainable revenue while providing valuable services to the NFT economy. We aren’t interested in flipping jpegs.
Do You Possess the Goblin’s Touch? — A Call to Action!
Today, entrance into Gringotts DAO is permissioned and we will be opening the doors of the DAO to a select few. Over time, we will open our community to all. For Season 0, we have decided to be picky with whom we allow through our doors. Sorry, but invisibility cloaks won’t work this time. Over the coming weeks, we will be hosting 1v1’s to establish/onboard the next cohort of goblins. To be considered for a 1v1, please submit the following by December 10th, 12AM UTC
🔑 Step 1. Head over to our discord channel.
Upon arrival, you will be able to fill out a membership request, which includes completing the tasks listed below. We will be diligent with our follow-up and will provide updates.
- Include your Twitter and/or TG handle and expected weekly time commitment (hours)
Answer one (1) of the following prompts in under 300 words.
- Prompt 1: Name an NFT community that you would describe as very healthy and provide a short analysis as to why you believe that to be true?
- Prompt 2: Name a non-blue-chip NFT (you define non-blue-chip) that you would provide a loan against and provide a short analysis as to why.
- Prompt 3: What metrics do you consider before purchasing an NFT? What metric(s) should be ignored? Why?
- Prompt 4: You are defining the future of DeFi and NFTs. What experiment are you interested in implementing? Why?
- Prompt 5: Describe a NFT distribution mechanism that is suboptimal and explain suggestions you’d make to improve the project’s chances of success.
To help you prepare for 1v1’s these values will be strongly considered when screening our next cohort.
- You work well with others. You show up. Not a d***!
- Not afraid to say I don’t know. Then…finds the answer.
- Not afraid to ask for help.
- Can make decisions without being 100% certain.
- Passionate about NFTs and/or DeFi.
- Likes to experiment.
We look forward to speaking with you soon!
Cheers,
Gringotts DAO
Sources: (1) Harry Potter Lexicon
