Inspiration
We are experiencing a paradigm shift disrupting the $100+bn creators economy. We are observing new models of distributed governance having great success in several platforms (dYdX, Sushi, Yearn). We are seeing diversification within Crypto and Web3 is outperforming vanilla buy-and-hold of Bitcoin. After about 10 roaring years, Crypto is ultimately diverging and outperforming Bitcoin.
That's why we asked ourself how we can create a better mechanism to invest into web3, leveraging our TradFi expertise as well as our long time love to crypto, so long that some of us are still waiting funds from MtGox.
We are building an investment vehicle targeting the metaverse economy. Its governance will be distributed among the DAO members who will submit investment proposals and cast votes to approve or reject the allocation of capital.
What it does
The investment fund is built upon 3 main pillars:
DAO A novel approach to running an investment entity leveraging the wisdom of the crypto-crowd with META as its native token. Owners of META will be able to submit proposals on how to deploy the DAO funds, subject to quorum and voting thresholds.
Tokenomics META represents both the voting power in the DAO as well as a claim on all the assets in the treasury. Users will be able to burn 1 META and trade separately 1 vMETA + 1 cMETA, representing the voting and claim on the DAO. These tokens are fungible and can be burned again to get 1 META. Some META will also be held within the DAO treasury, and may be bought (resp. sold) in the open market if the DAO believes the token is undervalued (resp. overvalued).
Incentives&Liquidity The DAO will target the web3 economy and the new metaverse. With a pool of diversified illiquid and high volatility assets (including NFT and other tokens), META will behave as a liquid ETF-like product. Users just interested in the liquid exposure features can keep their cMETA only and free ride the distributed decision making process, while others may purchase vMETA to increase their weight in the decision pool.
Why it matters?
The metaCOLLECTIVE DAO and its token will provide great diversification and exposure to a booming sector with a single token. The distributed due diligence process will make the scrutiny deeper, filtering out bad deals and selecting better opportunities.
Sophisticated investors will be able to utilise the extra brains in the DAO as well as increasing their network/dealflow, while retail investors will be able to access projects to which otherwise the couldn't have access.
What we've done so far
The DAO will back creators and projects in the metaverse space, this includes NFTs, DeFi and exotics.
For what concerns NFTs, in 10 days we created from scratch and launched theBULL. A NFT collection living on the Solana blockchain which sold north of $50k in few hours.
For what concerns DeFI, we are currently lending/borrowing/experimenting with several projects like Larix, Port Finance, Mango, etc.
For what concerns exotics, we are currently deploying capital in sophisticated yield farming strategies across Orca, Parrot and Mercurial. A more detailed explanation of the strategies can be found here: https://twitter.com/crypto_notte/status/1442482200973398020
The team
Federico: ex-JPM, Crypto Trader, traded 1B+$ of delta one and non-linear crypto derivatives.
Lorenzo: Crypto trader, experience in TradFi exotic derivatives @ Credit Suisse.
Alberto: Startup & tech experience at AMZN. Self taught Python developer. Managed $XX M PnL.
Giacomo: 5+ years experience in distributed system and web technologies. Web3 enthusiast
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