Allocating 7% of the XYZ treasury to Multiverse INC

Synopsis: Multiverse is a new company designed to bring both focus and value to the Universe Protocol. Additionally, it was started to facilitate and help trail blaze new business models using WEB3 protocols.

In the midst of conversations with Venture Capitalists, Multiverse had the idea of asking the DAO to allocate governance funds to a company’s portfolio. It became apparent that we were going to need to lead by example in order to show businesses that if they were operating in WEB3 it is to their benefit to have governance tokens on their balance sheets. In the long run, our vision is that these organizations are the largest holders of protocol governance tokens in order to act as an integral funnel through which people will use these functions.

Currently, the only real examples of companies built on WEB3 protocols are Coinbase and Gemini, with Binance following close behind. They can be seen simply as methods of exchange but Multiverse would argue that they are merely the first application companies to be built on top of decentralized protocols primarily because they are fiat bridges. They are now starting to branch out and offer other services through their systems. For Multiverse, we see this as just the beginning of businesses truly building on top of WEB3 protocols.

Projects currently being built under Multiverse that do or will leverage the Universe Protocol

dGuild: A Patreon like system for artists that will plug into Universe Protocol long term. We are working on a novel way of launching NFT projects that would be connected to an artists bonding curve and it will be minted through the Universe Protocol. Expect this in V.2 of the platform.

Worm Hole: A decentralized NFT streaming platform that will use the XYZ token. The current iteration of this system will run through Live.Peer and we will be minting clips through the Universe Protocol.

NFT Display: This is a display hardware and software app that will connect to your Universe Protocol user profile and display your chosen NFTs on a monitor or television with very little work.

Multimedia Mining Infrastructure: We are expanding our mining/transcoding/render hardware operation and it will be a crucial part of the operation.

The governance tokens will not be sold and only used for voting on the protocol. The voting will be controlled by the Class A equity holders of the company, Tim Kang, Tyler Ward, and Troy Murray.

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Companies building on Web3 protocols do need some weight on the DAOs since they will leverage the value of the protocol, since Multiverse vision is to build the infraestructure of pure decentralized nft space and with that bringing value to universe, i support allocating 7% of Universe treasury to Multiverse.

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Nice…we will be putting a DAO vote in soon.

Can you explain how you arrived at 7%? Is is 7% of the total supply? and if so, out of which allocation is it coming? Thx - just trying to understand the detail of what is being proposed. Also, how much would this increase the overall voting of Tim/Tyler/Troy? Thx!

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Hey @Troy ,

I am all for leading by example and I’ve been wondering how this process of companies holding governance tokens will look like since web3 is where the funding is pouring into. I am curious about the mechanics of Multiverse LLC voting as an entity, would that be a multisig vote with whoever is the legal representative?

Follow up question to it, what is the main benefit of having those tokens under Multiverse LLC, will any of those tokens be used internally for any of the projects under the umbrella or they are strictly staying in a treasury/wallet for voting purposes.

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Honestly there was an internal debate between 5 - 10 % so I just split the difference and then wanted to put it up to the community to get their feed back.

In the current format it would be the 3 people that are described Articles of Organization, Tyler, Tim, and Troy. Side note: there is a lot of money being formed to invest in entities and these entities will what operate on top of WEB3.

Currently it would be strictly for voting. Longer term I want to build products that incorporate the token into their system but we aren’t there yet and can’t give a strong explanation how that will look to be fair.

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Also keep in mind on this that mint is editable by the DAO. I do not think it happens programmatically.

So either this could replace the upcoming inflation or we can view what we are doing right now as actually triggering it.