Thanks for the feedback. The intention behind this project is not to detract from protocol fundamentals but to offer an innovative and community-driven way to add utility and engagement with Frax through NFTs. I’d like to address your concerns.
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Budget and Development Priorities: I completely agree that Frax’s core development should take precedence, especially in times when we are tightening our budget. If the community feels that funding should be allocated elsewhere, I will respect that decision. If there’s a consensus that this project is not a priority for Frax funding at this time, we can explore alternative methods of funding, such as third-party partnerships or community-driven contributions. Another option is asking for the funding as a loan that will be repaid with project profits. The amount I’m asking for is 1 day of Fraxlend revenues.
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Treasury and Fund Management: The treasury will start off as a community run multisig which will have trusted community key holders. The developer, myself, Sam, and any large/synonymous holders of the NFTs will be on the multisig. Large decisions will be made through snapshot with soft consensus made through the community discord.
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Conflict of Interest: I hear your concern about potential conflicts of interest. While I’ve been transparent about the nature of this project as something that I’m passionate about, I want to be clear that my primary role as Head of Community Development is to represent the community’s best interests. The intention for this project was actually included in my original Head of Community Development proposal. My intention is to add value, not detract from the larger mission of Frax.
I feel as though you have never been a part of an NFT community before. Having personally been involved with NFTs since 2021, I understand the power of community building they can provide. By also adding novel financial mechanics I believe this project has the potential to do something unique for the Frax community. I take offense to the idea that this is a “personal project” when my only intention is to provide more value to our community.