Simple Summary
This proposal requests the 1inch Foundation to stream 40 Million 1inch Tokens from the Foundation’s multi-sig into the 1inch DAOs Treasury.
Motivation
In furthering the 1inch Ecosystem’s commitment to progressive decentralisation, we are requesting the 1inch Foundation stream 40 million 1inch tokens from the Foundation’s Multi-Sig into the 1inch DAO’s treasury.
The 1inch Foundation currently holds 79,231,375.2573526 1INCH tokens. By transferring these tokens to the DAO the 1inch Foundations affirms its commitment to the DAOs role in governing the 1inch Ecosystem.
These tokens will be used to consolidate the DAOs treasury, as the 1inch Protocol continues to advance with the launch of new products, and the upgrades to existing products, the 1inch DAO prepares to support these efforts by supporting ecosystem development with Grants, proposals and multiple decentralisation efforts.
Specification
If this proposal is approved, the 40 Million 1inch tokens would be streamed from the Foundation’s Multi-Sig in the DAOs Treasury for one year.
Upon the approval of this proposal by 1inch Governance, the 1inch DAOs recognised delegates will present a utilisation plan for the 1inch Treasury.