“The true investment challenge is to perform well in difficult times.”
Ahoy mates, despite the bear-Kraken being upon us the hatches are battened down, the sails are at full mast and Galleon sails steadfast into the market bearish waters of the unknown.
Despite all the negativity and doom prophecies in the market at present, Galleon is laser-focused, continuing to strive to be a structured products powerhouse. One thing the Core team prides itself on is our ability to identify trends and opportunities, especially when, there is an opportunity to strengthen our position in the market and Galleon as a whole. Back in March (https://blog.galleon.community/beverage-galleon-partnership-announcement-%EF%B8%8F-648e1743cac9) we announced our strategic partnership with Beverage Finance, another methodologist guild with innovative engineers who we’ve been working with us on a number of products (including ETHMAXY). The synergy and collaboration between our two teams over the last few months have been excellent and because of this (after a number of lengthy discussions), Galleon has decided to acquire Beverage Finance.
What does this mean?
Galleon would effectively be purchasing Beverage Finance’s treasury, team, and community and these three pillars would all merge under the Galleon banner. The Beverage Finance development team are truly incredible engineers, and we want them to focus on doing what they do best (creating excellent structure products) the Core Team will help support them by providing front end development, Bis Dev, Growth and Community Engagement.
With bear market sentiment at an all-time high, once the DAOs have merged we would have all revenue from structured products going to the one treasury, which will provide greater resilience during this market downturn.
How will it work?
A snapshot of $DRINK holders has already taken place, and the acquisition will be $DRINK price * circulating supply (at time of snapshot) paid in Doubloon $DBL, this $DBL will most likely have a 6–12 month vesting period (final details are still being reviewed).
Please note, that the offer will be at the time of snapshot this will therefore prevent any gaming of the acquisition, as the $DRINK <> $DBL conversion rate will already be set regardless of any price changes in the market.
Next steps?
- Well, be pushing a GIP onto the brethren court and then taking the acquisition proposal to snapshot.
- Once the GIP has passed, we will then deploy a swap contract for holders of $DRINK to swap to $DBL.
We’ve very excited to the get Beverage Finance Team onboarded into Galleon as part of our Core Team and the Beverage community under our sails as we look forward to the future, and continue building innovative structured products as one team under the Galleon flag.
If you want to stay up to date on all things Galleon and Voyages:
- Follow our Medium
- Follow the Galleon Twitter & Cursed Pirates Twitter
- Join the Discord, all pirates & merchants welcome
Explore the websites:
Galleon: https://galleon.community
Flying Dutchman Capital: https://flyingdutchman.capital
Cursed Pirates: https://cursedpirates.xyz
