Hello everyone! We are writing to reming everyone that our @blocktunes DAO Private Governance Board sale will be open until 3/31/22 and only promoting this sale currently on Hive as a private sale! We are putting a cap on the governance vote sale and will stop it at that time.
What Happens Next?
At that time, is when we will figure out the proper price based on the AUM or Assets Under Management in the DAO and take the amount of the original 20,000 bTUNES tokens and disperse the amount to the investors based on the amount they paid into the DAO minus the amount you are already sent in your package. This way the early investors have the correct amount of tokens to cover their investment.
To refresh everyone, we have 3 levels that you can purchase. All packages will receive a special NFT, and a specified amount of tokens based on $10 per token.
Headlining Act GOLD - 100 bTUNES Tokens
Second Act SILVER - 50 bTUNES Tokens
Opening Act BRONZE - 25 bTUNES Tokens
You will also be sent a BTD governance token which gives you a governance vote in our DAO which will help support our mission, our fans, and our artists grow together! We have to do this based on a DAO vote so it will be sent to the BSC address you add on your original order.
You can check out the governance board sale here:
https://blocktunes.net/product-category/governance-board-sale/
When the Sale is Over...
Once the sale is complete, we will take any remaining packages off the market and will then commence with the public token sale that will happen directly through our DAO Dashboard using BUSD. Again, after the end date, we will divide the AUM by the 20,000 tokens to get the proper price per token, distribute the difference to investors to cover their original investment.
Until the end date, if any tokens are purchased from the DAO directly, we will be burning the equal amount of already issued tokens to keep the same 20,000 bTUNES supply.
Once the public sale from the DAO starts the LP investment tokens will be issued with someone purchases the tokens. The funds will automatically be deposited into the DAO where the community and the governance board holders can vote on how the assets are managed.
You can view the DAO Dashboard on XDAO here:
https://www.xdao.app/56/dao/0x6758359582Ec5C602f5121095807B062a15A9d5d
Hive Community and Governance Board Voting
The Hive community as a whole will be invited to submit their votes on all major DAO votes. This means the we will create a post and offer up the vote to the Hive community. We have a wallet that is held by our team that represents 10% of the DAO vote if all 100 GT's are sold. So anyone with a Hive account has the right to share their opinion with the DAO.
After the 4 days of the vote being open to the Hive community, we will start the 3 day active vote in the DAO for the governance board members. This will allow for the full 7 days for the Hive vote to go through it's voting cycle. At the end of the full 7 days, the vote from the Hive community, if passed will be signed in the DAO from the community wallet we have set aside. If the community does not pass the vote, then we will not sign the vote on the DAO and it will be up to the governance board on whether the vote passes or not.
Further Governance Token Issuance
We are making plans for future governance token issuance to help even further decentralize our DAO so that the we can take over the music industry in a fair and decentralized manner. We will most likely tie the GT issuance to a future NFT sale.
Polygon Launch Cancelled
As we started getting a few artists onboard the site, we were a little shocked at the lack of knowledge around BSC and Metamask. Binance Smart Chain is easy to access as far as tokens and such is concerned, but for new users, Polygon is just too difficult, because in many cases, you still need to bridge from Ethereum. Plus we don't want to have to teach people how to use a whole other blockchain that does the same thing as BSC.
With Binance Smart Chain, people can purchase BNB or BUSD directly from Binance.com or Binance.us or you can easily bridge from Hive using Tribaldex.com. There are also many other options for BNB and BUSD, where with MATIC, many of the exchanges still only support the Ethereum version, which needs ETH gas, and we all know how that roles...
Also with the bulk of the site such as the wallet and the store being set up with Binance Smart Chain, we are just going to keep it simple and stick to one blockchain as far as the EVM side of things.
It came down to the whole point of... Just because we can, doesn't always mean we should...
Because we are using Hive as our social side, instead of having the BSC DAO and a Polygon DAO, we are looking into what it would take to cross chain our current DAO with Hive in some manner using a SWAP token or just creating a different investment token on Hive-Engine. If we use the SWAP.bTUNES tokens, we will really just be using Hive as a payment portal for the dividends that will be coming...
Oh Yeah... Dividends to Be Paid Out To Investor Post Sale
So after the sale, we have decided that we will begin to start paying out 50% of our CAKE farming rewards from the Pancakeswap farms we are running in the DAO and then we will be depositing the other 50% into the DAO to continue to compound and build the assets under management. A small portion of these rewards will be transferred into BNB and used in the BlockTunes wallet for network gas fees.
In Conclusion
There is allot going into this project. Not just the blockchain side but also just the business side of things. This is going to be an evolutionary project as most should be. Nothing here is set in stone, but will be our direction going forward. Things may change and adjust, it's just the nature of things, but if they do change, the cool part about being apart of a DAO and a community like Hive, you have a say so!
Come check out what we are doing at https://blocktunes.net
Be Cool, Be Real, and always Abide!
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So glad I discovered you and this project. I believe we can do great things for the independent artists out there. 🎸👍
It was good to connect!