This solves the chicken-and-egg issue implied by launching the DAO’s first Daily Auction. Read on to understand.
If you read Start Here: Why You Hate NFTs, you probably understand why launching a DAO Daily Auction with no yield is exactly the same thing as launching an NFT as we know it today.
We want to avoid this.
The Daily Auction can only launch if the wallet buying it will receive its yield 30 days later, and every 30 days thereafter (as well as Exit Distribution from DAO Exits later on).
That assumes the DAO Portfolio contains products, and the DAO Treasury is actively growing as a result of its free cashflows, which enables the DAO Yield Design.
For this simple reason, the Daily Auction cannot start until the DAO is distributing Current Annual Percentage Yield (CAPY).
For this reason, the early community has decided to launch the DAO by emitting an initial supply of the NFT based sold in an initial token offering, organized and executed using the Bucket Auction model popularized by the Doodles project.
The goal of the presale will be to seed the DAO Membership and the DAO Treasury to kickoff DAO Acquisitions and Current Annual Percentage Yield (CAPY) payments.
Details on the presale TBD.