FloorDAO shakes Hidden Hand with Redacted Cartel
May 30th 2022
With the recent Floor War that happened between Milady and Tubby Cats, it has become clear that a proper solution is needed for people to be able to bribe gFloor holders. While before you had to rely on clunky OTC deals with an escrow, we are excited to announce that bribes can officially be done through our partnership with Redacted Cartel on their Hidden Hand Marketplace.
What is Hidden Hand and how does it work?
As you may already know, FloorDAO votes are valuable because voters can directly influence which NFT collections FloorDAO will purchase through voting. Hidden Hand is a permissionless bribes marketplace specifically built to support bribes from protocols. With Hidden Hand, you can use your gFloor tokens to vote on NFT projects and receive a percentage amount of the bribe that the project has given for the votes. WIth Hidden Hand, anyone can add a reward to those that vote for a specific collection (bribing), when the vote ends the reward is split between all voters pro-rata This simplifies the process of bribes and gives direct value to gFloor holders who have voting power. Voting is completely free excluding gas costs. To read more about Hidden Hand, you can take a look here.
How do I participate?
1. First, make sure that you are holding gFloor (Locked Floor). If you don’t have gFloor, you can lock your Floor tokens here.
2. Once you have gFloor, connect your wallet here and simply choose the project that you would like to vote for when a voting round opens. You can take a look at voting rounds that will open up at the FloorDAO snapshot site.
You will be able to see the Total Reward Value that a project has given for bribes and how many votes have been cast for that project. Note that bribes will be split between all voters (with 4% of revenue going to Redacted) so keep that in mind when voting.
When is the next vote?
The next upcoming vote will be for the emerging collections: the projects that will be competing against each other are frankfrank, World Wide Webb, HD Punks, Bastard Gan Punks, Tubby Cats. and Froyo Kittens. The official vote will start on May 30th on the FloorDAO snapshot. You can stay updated on upcoming votes through the Governance Announcements Channel in the FloorDAO discord.
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