Idea: AIP: Redeem the AssangeDAO's JBX for ETH

EDIT: I may be incorrect on how much our JBX tokens are worth, but I believe the market price is stated here: Gnosis Safe

Summary:
AssangeDAO treasury should redeem our Juicebox tokens (JBX) for Eth.

Motivation:
AssangeDAO raised a lot of capital and 5% of it went to Juicebox. We now have the ability to claim 95% of that 5% back.

Risks:
None

Rationale:
The AssangeDAO treasury needs Eth.

Background: Snapshot

1 Like

It seems that you don’t know much about the mechanism of Juicebox, and if you redeem the eth, you will receive very little eth. If you trade back eth by selling JBX in uni, then the current price is obviously very inappropriate.

From my understanding we would get back over $2M worth of ETH.

Only about 100 eth can be recovered.

From my understanding 95% of our 5% eth fee paid can be recovered by exiting Juicebox DAO. Is that not what this says? Snapshot

‘Updating the bonding curve to 95% will further incentivize short term members to redeem some of their initial contributions, while retaining ample operating capital for the DAO.’

This means that instead of having to find a counterparty to sell juicebox tokens through an exchange, that Juicebox dao offers the ability to buy juicebox tokens at 95% of their value from you, when someone else wants to buy Juicebox tokens, when they are doing the fundraising.

So even if you believe in perfect liquidity at current stable prices, the maximum that the tokens are worth are 659917.614 USD, and that 5% burn helps prop up the token price. If you were to liquidate all of the tokens on the exchange, its hard to say how much you would get, but perhaps half of that would be reasonable. Bonding Curves In Depth: Intuition & Parametrization | by Slava Balasanov | Relevant Community

There is no need to redeem the JBX until we have an idea what the money needs to be used for. The inherent bonding ratio is to financially incentivize holding the token over selling it in the long term. If you sell it for ETH, you are necessarily are going to take a hit, but that risk is counterbalanced by the risk of juicebox themselves depressing token price, by spending their treasury on projects instead such as this one on the Juicebox DAO workspace.

‘Use a minimum 50% of the AssangeDao fee for public goods’

“It’s important that the Juicebox DAO continues to use our visibility and fees received to further public goods in the web3 space. Using the fees from the AssangeDAO would signal good stewardship of the funds the Juicebox DAO has received and will further development of organizations and causes that the DAO feels are important.”

The bitter irony that the Juicebox DAO could dump a bunch of money on a public good in the web3 space, would necessarily depress our token as much as us dumping the tokens themselves, and if both happen its possible to put Juicebox tokens into a panic sell. Moreover, the same can be said of us depleting our treasury on frivolous spending without having our sights on return on investment.

Literally the only thing I think we should be spending, if the goal is to “free assange” is hiring an attorney, which can represent us in court, upon a writ of Habeas Corpus.

the most important item we should do at this time

This, the gouvernance… and now because it’s almost the 11th April this topic:

https://forum.assangedao.org/t/11th-of-april-kidnapped-and-prisoned-3-years-ago/948/6