Trading with the Community Wallet — Explained
I saw a question from a member about what we’re doing with the community wallet with reference to the trading vote tweet we sent out earlier.
Brilliant question! Glad you asked, ser.
This post will explain why we’re doing trading with the community wallet, what this means and how we do it.
As you may or may not know (depending on whether or not we’ve met each other before :)), Ninja Squad is a global NFT and trading community with the mission to connect, educate and empower it’s members. Our team consists of well-known experts in both spaces, along with hundreds (if not more) of experts among our community members too.
In late December, we decided to allocate 10% of the total community wallet to trading, which meant that we would invest and grow the existing budget we had sitting in the community wallet, and put back for the betterment of our community.
On December 20, we made the first NFT investment from our community wallet, which was approximately 3–4% of our community wallet at the time.
This was the first purchase we made from the trading budget and we acted fast to make it happen, after a team discussion. Following this message, some community members raised their concerns and shared suggestions, particularly, asking for these transactions to be made more transparently and with the consent of the community. Community talks, we listen.
On the same day, we implemented a voting system using snapshot.org, where every Ninja member will be able to vote on the future investments from the community wallet and they would have as many votes as the number of NFTs they hold.
This approach was well received and we currently have an open vote for the third investment at the time of writing this post.
On January 4, 2022, we sold our beloved Doodles for nearly 3X, putting back an extra 5.4ETH into the community wallet in 15 days. MAJOR WIN.
We were sad to let the Doodles go, but Ninja Squad is a trading community and our primary goal is to always put profit maximization and benefit of our community above all.
Fast forwarding to January 9 — DeadFellaz was our second investment from the community wallet and we announced it on our Twitter and Discord immediately. This is another project we love as the Ninja team, and believe it will soon become another iconic, ‘green chip’ project in the NFT world.
Several Ninja holders also invested into their first DeadFellaz on the day that we announced this news, which was definitely fun to see! WAGMI frens.
Another upside of these trades that shouldn’t be overlooked is that these moves are also great for building connections between the two communities and for marketing, as we get lots of new eyeballs on Ninja Squad.
Fast forwarding to January 11, we announced our open vote for the third investment we’re going to make for a total of 6ETH. Ninja Squad community will vote for their top choice between CyberKongz VX, Bears Deluxe, Peaceful Groupies and RON DeFi Farming. Once voting is over, we’ll be investing into the top 2 choices of the community.
Final Thoughts
We‘re able to involve the community in our decision making process and it seems to be working very well so far! We’re already very excited for the third investment and to see what the Ninja community will pick.
Investments with a portion of the community wallet has been a great use of the trading knowledge and alpha we hold as the Ninja team. We are profit maximalists that always keep our community at the heart of everything we do.
Join our Discord to get a feel of our community, the alpha and to ask any questions!
