💸Treasury Funding

Update April 2, 2024: All token phases complete. $FUTURE launched successfully.

Preface

There was no treasury when $MERTD was minted. So, with a new $FUTURE comes a treasury. It has received funding from the following sources:

From Tokenomicssection

1. Early Community Donations:

During the first week of the MERTD token takeover, the community banded together and sent 5.6 million MERTD tokens to the treasury to help pay for operations expenses. This was and still is controlled by a Squads multi-sig.

2. Solana from Pre-Sale:

As per the Community Pre-Sale, $SOL has been raised equal to the value of 75M $FUTURE tokens, roughly 6.5% of the supply, at the time of the initial Pre-Sale snapshot.

3. $FUTURE from Airdrop:

The best way for the DAO to create a treasury is to mint 150M extra tokens alongside the migration. Half will be sold for $SOL, and the other half, 75M $FUTURE, will be retained for funding the treasury, leaving the DAO with roughly 50% of each token.

This step is important because it helps limit the amount of $FUTURE sold on the open market to fund our DAO activities.

4. $MERTD from the FutureSwap:

By swapping $MERTD tokens for $preFUTURE placeholder tokens, participants have given up their $MERTD assets for the DAO to trade. These $MERTD tokens will be sold when the 7-day Token Swap window closes, just before we airdrop $FUTURE tokens to the migration participants.

Selling $MERTD -> $SOL is done to facilitate seeding the $FUTURE-SOL liquidity pools before the token launch. This will result in a much more pleasant trading atmosphere at launch.