Introducing Cursed DAO, a Galleon NFT Focused Sub DAO
“And are you prepared for what comes after?
The cursed are not bound to me. They are bound to a lifetime of servitude before the mast.
There must be an organisation that holds these debts true whilst the Galleon sails on, ferrying souls down through the twilight maelstrom.
From the depths, Cursed DAO has emerged, and now I ask -
will ye serve?”
Cursed DAO
The Cursed DAO plans to emerge and form as an independent sub-DAO of Galleon, incubated and nurtured through a symbiotic relationship between both organisations whilst each targeting unique ecosystem verticals.
Quick Overview:
Cursed DAO, the owner and recipient of all things Cursed Pirates, including its treasury, the brand and ultimate direction will be governed by the Galleon voyage upcoming NFT collection, Cursed Pirates, on Arbitrum — with an almost standard governance model.
This sub-DAO will be bootstrapped with a fixed amount of $DBL from Galleon that is owned and governed by Cursed Pirate NFT holders in perpetuity in return for a fixed supply of the collection sent to the Galleon treasury (governed by $DBL) as the inaugural contributor to the inception, support and on-going development of Cursed Pirates & Cursed DAO.
Let's recap on what’s present today and then dive into the symbiotic relationship between Cursed DAO & Galleon and why both together create a force of nature within the Web3 space with tangible benefits to both Galleon & Cursed DAO governance holders.
Cursed Pirates
- 5500 NFT avatar-based collection on Arbitrum
- Free mint, targeting October/November launch
- The objective is to create the most engaging, community-based thematic NFT project on Arbitrum based on bespoke, high-quality, in-house created media and also create an intersection between NFTs and DeFi to educate and immerse NFT holders with the wider Web3 ecosystem (including perhaps, Galleon products).
Cursed Pirates stands behind being run by a community, sourcing quality art, music, lore & world-building from its members to create a shared, valuable brand within an openly developed, transparent organisation.
Articles: Introduction Article | Faction Preview #1 | Faction Preview #2
Galleon
- Asset management guild delivers innovative products such as the ETH Max Yield Index & the Basis Yield ETH Index. Parallel initiatives have been flagged as Voyages, with Cursed Pirates being the primary case.
- Governed by Doubloon ($DBL) via an Optimistic Governance model
- The mission objective for Galleon, first and foremost, is to build trustless, best-in-class ETH asset-based structured products that allow investors and traders to speculate on ETH in every way, on every network.
Galleon stands behind running as a high-growth organisation, sacrificing some decentralisation up-front in ‘ease of contribution’ and organisation transparency in favour of efficiency and governance minimised delivery with a core team. The end state of Galleon is to swing the pendulum the other way as we create a successful foothold within our niche.
Articles: Latest Strategy | DAO Recap
Cursed DAO & Galleon
Now with both projects recapped, we can see that the Galleons governance model, mission objective and what it stands behind are incompatible with the ethos we want to shine through in Cursed DAO and its future — therefore, a sub-DAO, with its own independent governance model and vision was required.
So how do both organisations stay strategically aligned? Doubloon ($DBL). Let us dissect this diagram below to explain.
Raw Assets
- Galleon will bootstrap the Cursed DAO treasury with 5M Doubloon to further fund contributors and services and grow the Cursed Pirate project, giving an almost ‘floor value to the organisation at inception. The ultimate success of Galleon and Doubloon could give Cursed DAO a flourishing start to its journey, and strategic initiatives will be in place initially to encourage it; more on these feedback loops soon.
- Cursed DAO will send 850 of the 5500 collections (~15%) to the Galleon treasury, to be owned and governed by the Doubloon holders as the founding contributing organisation that poured months into the creatives to bring Cursed Pirates to life. This now completes the loop in giving Galleon and Cursed DAO a strong strategic link in assets.
$DBL Initiatives
Cursed DAO wants to utilise its Doubloon for bootstrapping the organisation and funding what is required to create the highest quality brand on Arbitrum. Galleon wants to bring value to the organisation and Doubloon governance holders through voyages (e.g. Cursed Pirates) and command over product revenue and DAO treasury.
Creating the most liquid $DBL market with organic demand is key to realising both these needs, and so at Cursed DAO’s inception, we are introducing some key initiatives for the benefit and strength of both organisations:
- For Cursed DAO, for six months after the Cursed Pirates mint, all royalties from secondary sales will be directed to buying and providing DBL-WETH liquidity on Arbitrum.
- For Galleon, for six months after mint, we will redirect all product revenue straight to buying and providing DBL-WETH liquidity on Arbitrum.
After the initial six months, any extension on this initiative or new initiatives will need to go through standard governance protocol via Cursed DAO & Galleon. Cursed DAO, of course, can propose to cancel this agreement at any time if alignment isn’t felt within the community post-launch.
Ongoing Strategic Ties
- Galleon will help incubate Cursed DAO initially, nestling the sub DAO within the same Discord for a unified community (the community can decide to break off independently at any time)
- Cursed DAO can look to create experiences and engaging content around DeFi and Galleon products to create an intersection and reinforce the DBL flywheel that both organisations want to encourage.
Cursed DAO Governance
So you may have caught me saying that Cursed DAO will adopt an almost standard governance model. Well, the governance model is still very simple with a light-hearted twist, it would be too easy to just use 1 NFT = 1 vote for snapshots, and we want to, at inception, hone in on that strategic alliance between both organisations.
Therefore the Cursed DAO governance model, which will govern over the Cursed Pirate treasury and brand (and any subsequent collections 👀), will eventually require you to own both a Cursed Pirate NFT and a small amount of Doubloon (e.g. 50) because a pirate without any Doubloons is a sad, unworthy sight.
The good news alpha leak is that, after launch, each Cursed Pirate holder will be airdropped the DBL to line their pockets for the long haul, making them worthy of the Brethren Court.
Contributing & Galleon Core Team Involvement
Cursed DAO aims to be, in contrast to Galleon, a flat, transparent, open organisation for all Cursed Pirate NFT holders to engage and build the most vibrant, thematically perfect and roleplay-abundant brand in Web3. To do that, it has to be built that way by design right from its roots, meaning that the Galleon core team taking command of the decision-making is of little sense.
The diagram below illustrates how the Galleon core team contributes to both Galleon and Cursed DAO with the funding of the core team now and in the foreseeable comes from Galleon, leaving Cursed DAO in a place where it has contributors by default and a treasury available to be spent on onboarding new, Cursed DAO focused deckhands that wants to help and be rewarded for building the DAO from the ground up.
We, as the Galleon ‘core team’, are simply ‘contributors’ to Cursed DAO. We have no status in terms of elevated voting rights and are equal with our peers with our reputations measured purely by our input and impact on the success of the DAO. We cannot wait to build alongside our fellow comrades at sea.
Questions A-Z
Do not worry yourselves, crew. This is simply an announcement of the ambition behind Cursed Pirates and how you, future NFT holders, will be a part of something very special upon launch.
The specifics on the launch, finalised distribution, whitelisting, minting, governance forums, and multi-sig setup will all come in due time before the Summoning event in October/November. For now, join us onboard in celebrating the journey so far, and if you do have a question, well, come talk directly with the crew in Discord below!
Getting Involved & Whitelist
The Cursed Pirates collection is a free mint, with governance power over a bootstrapped treasury and an exciting brand with strategic ties to Galleon and its core team, funded externally to the Cursed DAO treasury. We are incredibly excited about the prospects of the DAO and hope you are too.
If you want to be involved as a future contributor, try your chances at getting a whitelist spot or perhaps receive the fastest news regarding the summoning then:
- Follow Galleon Twitter | Cursed Pirates Twitter
- Join Discord
- Publicly pledge 100 years before the mast
See you on deck.
Navigation ⚓️
Discord | New Contributors | Galleon Documentation | Davy Jones Twitter | Galleon Twitter | Cursed Pirates Twitter | Galleon Website | Cursed Pirates Website | Flying Dutchman Capital Website
