There are some super interesting ideas in this thread so far, thank you all for helping guide us here.
Like @owocki I’ve been listening + digesting the conversation and trying to get a sense of all the options the community has in mind. I truly believe there’s potential for a positive-sum outcome here as in all things crypto, and we should strive towards that.
So far from the discussion, I’m noticing a few key options that I want to try to distill down:
1) Sell a fixed percentage of tokens and burn/hold the rest
This option seems to be the most popular, but it seems like there’s a lot of variance in how much people want to sell. Some folks like @cupOjoseph think we should sell everything while others like @relic want to keep the number closer to 5%.
On average, it seems like most people in the thread are on board with somewhere around 10-20%. As I think most people in the thread know by now, Vitalik ended up burning around 80% of his SHIB so there’s some interesting precedent here but that doesn’t mean it’s necessarily the right decision.
In terms of how to sell, @HelloShreyas mentioned a few strong options above, for example finding an OTC provider, drip selling into the market, or setting up a Gnosis auction. Other folks like @Crisgarner have even suggested some kind of buyback program.
2) Hold the tokens and use them in collaboration with the AKITA ecosystem
@omnianalytics and @Enrique have both suggested that we simply keep the funds but dedicate them to bounties, and specific quadratic funding rounds that benefit the AKITA ecosystem, the idea being that the most valuable thing here isn’t the money but the community. Others like @papa_raw and @castall have suggested that we could hold the tokens but distribute them as part of the matching amount to grantees.
All of this feels very positive sum, but as @isaac and others mentioned there are opportunity costs and maybe even potential risks to putting our energy behind AKITA.
3) Do nothing, send the funds back to Vitalik
As always the empty set is a subset of every set. As @tjayrush and @cryptowanderer have suggested, we could simply send the funds back to Vitalik or burn them entirely to move on to other things. This would allow us to avoid taking a side, and minimize opportunity costs, but at the cost of funds that could go towards Ethereum public goods.
A Suggestion on how to move forward
I noticed that @coopahtroopa put together a great template. No matter which of the options above (or others) we want to move forward with, I think we need to really clearly articulate the reasons why and consider both the potential, the downside risk, the second order effects, and so on.
Do we have any folks that would be willing to take a shot at drafting some proposals and posting the final drafts here for the community to review?