Anthony

Jan 21, 2022

Open Funding Round and DAO Snapshot January 2022

Introduction

Hello Water Planet members and welcome to the first Funding Round announcement of 2022! First, the Board would like to apologize for this announcement post coming a day late. Between the website go-live, hammering out the final bugs in the code, and general day-to-day distractions, we let this get by us. The Board strives for greatness and will do our best to ensure we are on-time for future, critical posts.

As most of you should know, this Funding Round is "OPEN." This means that we are opening our doors to welcome new Water Planet investors. If you, as a current member, are facilitating a new member to join please take the time to ensure that they understand all of our rules, procedures, and are able to complete all steps to join successfully. With all this said, lets get into our January 2022 Snapshot and a refresher on Water Planet Funding Round procedures.

January 2022 Snapshot

All Funding Rounds are accompanied by a monthly snapshot of the DAO valuation. The Board breaks down this valuation into two main categories - Liquid and Total. Our "Liquid Value" is any current investment easily transferred to Ethereum. Mainly, this will be any currently uninvested Ethereum and/or any currently held Ethereum based tokens (ERC 20 tokens). The "Total Value" is the Liquid Value plus the calculated value of all currently held NFT investments. As a reminder, the DAO Board members calculate the NFT valuations individually using one of the two following formulas found below:

Value = Floor of Project - (Fees + Royalties + Margin Buffer) ⁠Value = Floor of Rarest Trait - (Fees + Royalties + Margin Buffer)

It is up to the Board members to determine which formula to use and what to set the Margin Buffer percentage to based off of current sentiment for that NFT. Finally, below is a breakdown of the Water Planet DAO current snapshot valuation.

Gnosis Wallet $ETH Value | 3.122 MetaMask Hot Wallet $ETH Value | 0.961 $LOOKS token $ETH Value | 1.285 --------------------------------------- Liquid DAO $ETH Value | 5.368 --------------------------------------- Chubbicat NFT $ETH Value | 0.124 Cool Cat NFT $ETH Value | 11.987 --------------------------------------- Total DAO $ETH Value | 17.479

Open Funding Round Procedures

All Funding Rounds run from the 20th to the 24th. Members that add or remove Ethereum from their current investment should do so within this time period. Additionally, due to this being an Open Funding Round, the Water Planet DAO is accepting new investors. All investments should be sent to the Water Planet Gnosis wallet address (found below). Water Planet is not accountable for Ethereum sent elsewhere. At the end of the Funding Round, the Board will release another snapshot with the new Total Value.

Water Planet Gnosis Wallet Address - 0x54a0d40bcb0b5a3a8c1c875a77bb6b74e4447be2