MvZ Zombie #1477
Wanderer #2 by Matthais Trinley
Coffee DAO was launched as an experiment first as an NFT incubator, then over months graduated to the idea of a collectively donated & governed meta-museum.
As the idea grew so did the work involved to complete it. Being that all genesis members of the DAO work on their own projects, none could take on these responsibilities in a full-time capacity, and no-one from the community was willing to bear the load for free.
To complicate matters the DAO has never had any funding and never sought any. It was originally conceived as something meant to run on altruism and spare time with a collective mindset to grow the DAO.
To even further complicate things, DAO tools we thought would be online in Q2 still aren't available (not faulting anyone). Some in the community who we asked for help have ghosted us (very little to gain from helping). We are patiently waiting for these tools to become available.
We are proud of where the project stands. We've completed a member minted NFT burn & mint and also completed an exclusive member minted Coffee DAO white-list drop (which we're eager to do more of!). We've also managed to keep the museum safe and continually growing.
TLDR: Not going anywhere. Museum is safu. Waiting for governance tools to make decisions. Proud of where the project stands. Would greatly appreciate help!
The BEAN Roast will commence March 26th, 2022 and will run until Jan 1st, 2023 (to give everyone enough time!)
All BEAN tokens can be burned to redeem an equal amount of Coffee DAO membership NFTs (a mint of 10,000 generative NFTs created by DAO member LionsWrinkle). Each Coffee DAO membership NFT will carry the same rights as the original BEAN token (i.e., access to and future governance over the community donated meta-museum), but none of the complexities of a fungible token. We also felt that representing membership through unique NFT artwork more appropriately represents the collaborative art community we want to see flourish on Algorand.
Coffee DAO has partnered with PixTrate (creators of Pixel Guys & Pixel Gals) to host the first Burn & Mint NFT series on Algorand. The engineers at PixTrate have developed a Burn & Mint tool which will be first used by Coffee DAO to burn BEANs and mint the membership NFTs. The exchange will be 1 BEAN for 1 membership NFT. All rights attributed to the BEAN token will be transferred to the membership NFTs after the Mint & Burn has been open for 1 month. After the 1 month period, the burn and mint will be closed and all remaining Coffee DAO membership NFTs will be distributed based on a DAO vote. Thereafter, the BEAN token will have no utility as all membership benefits will be ascribed to the membership NFTs.
OLD ASA ID: 473180477 https://algoexplorer.io/asset/473180477
Multi-sig Address: IH5SOYVSFHY3LKELUWG5QOCVLDHPWFCKEJ3S64QQM4WIVAZVQBSIXRDRSM
Generous members of Coffee DAO have donated multiple NFTs to the Coffee Vault, a 3/4 multi-sig wallet destined to be used in the Coffee Vault Meta-Museum. CoffeeDAO Members will have exclusive access to the Meta-Museum displaying these NFTs. Until a treasury management contract has been deployed, no further donations will be accepted.
Coffee DAO is governed by 10,000 CoffeeDAO Membership NFTs. To become a member of the DAO you must hold at least 1 NFT. 1 NFT= 1 vote. The NFTs DO NOT represent fractional ownership of the NFTs held in the multi-sig account. The multi-sigs have pledged to donate all assets in the multi-sig wallet once on-chain governance, treasury management and curation is in place.
To propose a vote you must hold 100 CoffeeDAO Membership NFTs. No votes regarding the vault will be conducted until an on-chain voting system is in place. Currently proper DAO tooling is lacking in the Algorand ecosystem and we are eagerly awaiting its arrival.
Check in the Discord for more information.
If you are a developer or creator and would like to work on these open-source projects, please hop in the Coffee DAO discord! We would love to have you.
DAOs, much like NFTs, are bigger than any one single project and require collective effort. While no other project is building the exact tools we need as a collectively-governed VR gallery, we can use bits and pieces from others' open-source projects to fit our use cases. A few projects already working on DAO tooling are Reach, Prismatic, XBacked and Headline.