Decision on redeeming JBX tokens in exchange for ETH tokens on the JBX bonding curve

Motivation

In February 2022, the AssangeDAO raised 17,422.7185 ETH via juicebox.money to bid on the Clock NFT by Julian Assange/Pak. 5% (ca 871 ETH) of the donations were retained by Juicebox as a fee. The AssangeDAO received 87,478,938.88638015 JBX tokens in return.

It was the understanding of the AssangeDAO then that ETH 871 would be refunded by the JBXDAO to the AssangeDAO at a later time. However the proposal to this effect to the JBXDAO was unsuccessful.

It is, however, possible to exchange JBX tokens against ETH on the JuiceboxDAO bonding curve. At the time of posting this discussion 100% JBX tokens may be exchanged for ca. 199 ETH.

Details

This proposal asks whether the AssangeDAO should execute a transaction as soon as possible to exchange all or part of its JBX tokens in exchange for ETH on the JuiceboxDAO bonding curve.

Therefore, the voting options are as follows:

  1. redeem all JBX for ETH via Juicebox bonding curve

  2. redeem 75% of JBX for ETH via Juicebox bonding curve

  3. redeem 50% of JBX for ETH via Juicebox bonding curve

  4. redeem 25% of JBX for ETH via Juicebox bonding curve

  5. redeem 10% of JBX for ETH via Juicebox bonding curve

  6. redeem nothing and keep hold of all JBX

  7. none of the above

Motivation

The DAO has used 95% of the raised ETH to acquire the Clock by Julian Assange/Pak to Julian’s Legal Defence Fund at the Wau Holland Foundation. The ETH received via the bonding curve are to be used to fund the continuing operations of the AssangeDAO.

4 Likes

Agree to get eth back

1 Like

We very much agree that replacing jbx with eth is the right thing to do! Hope to enter the voting process as soon as possible!

1 Like

Just because you can replace 200ETH with jbx now doesn’t mean you can do it in the future. Jbx’s replacement system may be turned off at any time! Our operation should be as soon as possible.
When the treasury of jbx reaches its limit, there will be no replacement window, and then we can only realize eth through sales on the market, which is the worst.
It is agreed that it is safer to have 200ETH in the treasury than to have JBX

Let’s get back to ETH as soon as possible and start pushing Dao forward.

Thank you for posting here. Looking forward to seeing how AssangeDAO community votes on this.

2 Likes

Looking forward to seeing how AssangeDAO community votes on this

It’s time to move forward with this work, the treasury is empty

https://snapshot.org/#/assangedao.eth/proposal/0x01bb8d0d78f9330d0b3d977e1b156e27ae5457e4ff694b2918e03b6a56147f5f

1 Like