Updates — Order of business

Our $DBK IDO with CrossPad will happen this Sunday, 23 May 2021. And so, we would like to take this opportunity to let our community know what’s happening next and so on.

IDO participants will receive 50% of their $DBK once the IDO with CrossPad concludes. The remaining portions will be distributed on Day 15(25%) and Day 30(25%). IDO participants do not need to do anything, as the $DBK will be allocated to their respective wallets. All allocations will be announced once executed by DbookDAO.

Airdrop participants will receive their $DBK 48 hours after presale participants at all stages. This means airdrop participants will start receiving their $DBK on Day 3, Day 17, and Day 32. A similar distribution weightage will be implemented as well at 50%–25%–25%.

Bounty winners eligible for their $DBK will receive their $DBK across 3 months. Each month, $DBK will be withdrawn from the community pool and distributed to all bounty winners.

The first distribution will happen on 1st July 2021. Every subsequent monthly distribution will happen on the 1st of each month. However, please expect some delays every month as a tabulation of reward winners and amount needs to be manually conducted, and $DBK to be airdropped after.

Once the presale concludes, we will be opening up another round of fund guardian registration. This is to ensure that our new community members from the $DBK presale have a chance to become fund guardians. All fund guardians will need to go through an internal KYC audit as per other previous fund guardians.

During the initial phase, an undisclosed amount of $DBK will be contributed from the community pool monthly to allow $DBK holders to farm for $DBK.

We have partnerships lined up, and some in discussion at the moment to facilitate the creation of $DBK farms with our partners. More details to be disclosed in the near future.

All funds raised will be held in our Treasury on Gnosis Safe, where fund guardians hold the keys needed for any fund release from the Treasury.

The following recurring and one-off funds will be created under the supervision of fund guardians:

  1. 12,000 $BUSD to be released ASAP for protocol audit with solidity.finance
  2. 3,500 $BUSD to be released ASAP to the team for backpay and allowance
  3. 13,000 $BUSD to be released to the team every month for team expenses
  4. 7,000 $BUSD to be released to the team ASAP for marketing of DGames and DLuck.
  5. 7,000 $BUSD to be released to the team every month for marketing of DGames and DLuck.
  6. 5,618.25 $DBK to be released ASAP to the team for subsidized team expenses to external contractors.
  7. 5,618.25 $DBK to be released to the team monthly for subsidizing team expenses. (external contractors — vested across 3 months)
  8. 5,000 $DBK to be released to the team monthly for subsidizing team expenses. (Vested across 4 months)
  9. 83,333 $DBK to be released for initial liquidity ASAP.
  10. 15,000 $BUSD to be sent to ‘base’ smart contract once audit protocol is completed.
  11. 3,000 $BUSD will be sent to operation hot wallet once DGames and DLuck launches.

We’ll be locking the liquidity with team.finance for a minimum of 1 year. The DbookDAO community will decide if the LP tokens will be burned, unlocked for subsidizing team expenses, or continue being locked for an extended period. 83,333 DBK and $100,000 worth of $BNB will be used for providing liquidity.

Airdrops, bounties, funds, and vested $DBK related concerns

  1. We’d like to assure all IDO participants that airdrop recipients will only be receiving a total of 5,600 $DBK. With vesting conditions in mind, only 2,800 $DBK will be released to all airdrop participants 48 hours after IDO participants receive their $DBK. The released airdrop $DBK will not affect the liquidity provided by Dbook.
  2. Bounty winners will receive their $DBK much later, and across 3 months, starting from 1st July.
  3. Up to 20,800 $DBK can be unlocked monthly to reward our contributors in the community. However, please do note that, we do not need or intend to unlock the entire 20,800 $DBK every month. Rewards to be allocated for contributors might be vested as well. We will be hiring a full-time bounty manager to manage this segment with transparency for all.
  4. With an initial agreement with some of our external partners previously, 5,618.25 $DBK will be released 4 times, across 3 months. The team does not have control over this amount of $DBK after its release, and it can be sold by the beneficiaries. However, this arrangement was made, taking into consideration the amount of liquidity placed by the team will effectively prevent an adverse price reaction on $DBK.
  5. 5,000 $DBK will be released to the team across the next 4 months. This will be released to the team for the subsidy of team expenses on a monthly basis. A total of 42,473 $DBK will be vested across 4 months under the team expenses segment. (Refer to #4)
  6. All remaining $DBK will be held in our DbookDAO Treasury, powered by GnosisSafe. To unlock any $DBK, it’ll require the permission of the DbookDAO community, and to be executed by all active fund guardians and Rigi from the Dbook team. This is similar to any other arrangements involving funds leaving the DbookDAO Treasury, with the exception of recurring payments.
  7. All funds received from the Dbook x CrossPad IDO will be held in DbookDAO Treasury. All fund releases will need to be supervised and approved by fund guardians. All releases will be planned and approved according to the list requirements stated under ‘Release of funds from $DBK IDO’.
  8. All $BNB received from the proceeds of IDO will be sold to BUSD at the Dbook team’s discretion. However, the DbookDAO community and active fund guardians can be consulted on the liquidation of $BNB to $BUSD in order to bring the best interest to DbookDAO.
  9. Operations will be conducted on DbookDAO Treasury via Gnosis Safe if possible with the assistance of fund guardians. However, operations such as the liquidation of $BNB to $BUSD on Pancakeswap might not be possible using Gnosis Safe. Under such situations, Rigi will be the default nominee for executing such transactions. The DbookDAO community and fund guardians will be notified to witness Rigi of such transactions.
  10. This list will be updated as and when new directives are required and proposed by DbookDAO. A version of this directive will be included in the whitepaper document in the near future.

Detailed dates (Subject to changes)

  • IDO $DBK vesting

50% — 24th May 2021
25% — 7th June 2021
25% — 21st June 2021

  • Airdrop $DBK vesting

50% — 26th May 2021
25% — 9th June 2021
25% — 23rd June 2021

  • Bounty $DBK vesting

33% — 1st July 2021
33% — 1st August 2021
33% — 1st September 2021

Telegram: https://t.me/dbookdao

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