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TREASURY Ξ 0.088000527827475822
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PROPOSAL 6

Executed

Voting ended January 12, 2024 8:27 AM CET
This proposal has reached quorum (155 votes)

For178



Against0



Abstain0



DESCRIPTION


PROPOSAL FOR THE TRANSFER OF 477 WETH TO BIBLIODAO FRONTINUS HOUSE

Context: On January 5, a malicious proposal was created by an anon account to
transfer all funds out of the Loot Royalty DAO into an individual wallet. While
Loot holders have rallied to defeat the proposal, new malicious proposals are
likely to be made again in perpetuity unless swift action is taken.

At the same time, the current attention on this attack presents an opportunity
to rethink what the funds could be used for rather than having them sit idle and
forgotten.

Proposal: Transfer 477 WETH to the BiblioDAO Frontinus House for safekeeping
with future intentions to support the growth of Lootverse projects through
targeted funding.

*Funds will not be used until a vote passes through the Loot Royalty DAO
approving a charter that aligns with the original Loot collection.

BiblioDAO is Loot: BiblioDAO was created to realize the full capabilities of
Loot’s immutable, permissionless, and open nature. In fact, nearly all of the
projects and games under development are inspired by Loot or use Loot assets
directly. Most of the original builders within Loot are now part of the DAO and
continue to build the DAO in the image that was and is Loot.

This year, to further expand the ecosystem while embracing the ethos put forward
by Loot, the Frontinus House was created. Frontinus House is governed by a
charter that prioritizes decentralization and open protocols. It acts as a
platform for funding initiatives within the Realms Autonomous World and Starknet
Ecosystem. To-date, FH has funded twenty proposals with 2 million $LORDS (100k
$lords each, equivalent to $200k USD back then, ~$1m USD now).

Objectives

The primary goal with this proposal is to safeguard Loot Royalty Funds by
entrusting them to Realms for safekeeping. Secondary objectives are listed
below:
Enhanced Fund Management: The Frontinus House has a structured system with
experience managing large funds.
Alignment with Loot Values: The Frontinus House Charter formally aligns Loot
Royalty funds with the original values of Loot.
Supporting Future Lootverse Expansion: The funds will be allocated to projects
that contribute to the development of the Lootverse, in line with its
foundational ethos. These funds will only be allocated after a new charter is
created and approved by Loot holders.
Efficient Resource Utilization: Frontinus House's team and processes promise
transparent and efficient fund management and allocation.

Transfer Details
Amount: 477 WETH
Destination: BiblioDAO Frontinus House
Purpose: Safeguarding Loot Royalty Funds and future funding of Loot-related
projects and infrastructure

Transfer of the Loot Royalty DAO funds is in the best interest of Loot and will
be safer and used more effectively if managed by BiblioDAO. Funds will be used
transparently pending approval of a foundational charter to incentivize
continued expansion of Loot and Loot-related projects.

PROPOSED TRANSACTIONS

1:
0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2.transfer(0xef3155450bAA054ffE7950509CE2042613EE6586,
477085115541452249955)

PROPOSER

0x32790deE22beD1916303e2c3F4253fC2cFc0c417 at 0x8ac63
discordtwitteretherscangithub