Announcing: FreeRossDAO

by | Dec 7, 2021

Ross Ulbricht founded Silk Road, introduced hundreds of thousands to crypto, and received a disproportionate prison sentence of two lifetimes plus 40 years. Today we unite in solidarity for Ross, gathering funds to buy his Genesis Collection, and protesting the injustices of the American prison system.

Stand against injustice. Free Ross.

Update: WE WON THE AUCTION!!!

Free Ross Manifesto

  1. We will help Free Ross.
  2. We will advance prison reform.
  3. We will share Ross’s work with the world and give everyone a unique opportunity to own a piece of it.

Free Ross DAO Community and Funds

Following a successful bid, Trippy will lead the DAO as Chief Freeing Officer. The DAO will use leftover funds raised to free Ross and advance prison reform. All proposals, decisions and actions will be made as a like-minded community of souls around the world 🕊.

What Will Happen

If FreeRossDAO wins the auction, the NFT will be fractionalized into $FREE and distributed pro-rata, weighted by contribution. $FREE will represent governance rights within FreeRossDAO and a fractional part of the “GENESIS COLLECTION” NFT.

If FreeRossDAO wins the auction with a bid less than the contributed ETH, the leftover funds will be held in the treasury, governed by FreeRossDAO and available for future impact.

If FreeRossDAO has fewer than 4,000 individual contributors, $FREE will be distributed by bulk transfer, with the DAO paying all gas for the transfers.

If FreeRossDAO has more than 4,000 individual contributors, $FREE will be distributed by Merkle Airdrop, which will cost each contributor ~0.04 ETH at 200 gwei.

If FreeRossDAO loses the auction, contributions will be available for full redemption via a Merkle Airdrop, which will cost each contributor ~0.04 ETH at 200 gwei. Any refunds not claimed after 7 days will be donated to FreeRoss.org.

Governance

Once the bid to acquire the Genesis Collection succeeds, contributors will receive $FREE tokens in return for their contributions pro-rata, serving as both fractional pieces of the Genesis Collection as well as FreeRossDAO’s governance token. Holders of $FREE can vote on proposals and contribute to the direction of FreeRossDAO.

Trippy and a future DAO council will create proposals, and the multi-signers below will execute approved proposals.

Multisigners

  • Trippy: Trippy Labs / Chief Freeing Officer. Peaceful psychonaut who has led the entire Free Ross NFT fundraiser hand-in-hand with Lyn Ulbricht, Ross’s mom.
    instagram.com/trippy
  • Nadya: Pussy Riot + PleasrDAO
  • Jamis: PleasrDAO
  • Cobie: UpOnly
  • Path: Superhero
  • René: Lifelong friend of Ross
  • Elliot: friend of Ross.

Questions

  • What happens if I send tokens besides ETH?

Do not send FreeRossDAO other assets. All other assets will be considered a donation to the DAO’s treasury—to be governed by FreeRossDAO—and are not eligible for pro-rata fractions or a refund.

  • Is there a minimum or maximum contribution?

There is no minimum contribution, but be aware that in the event that FreeRossDAO has more than 4,000 individual contributors or in the event that the DAO loses the auction and offers refunds, contributors must be willing to pay ~0.04 ETH in gas to claim their $FREE or refund, respectively.

  • What happens if the NFT is sold via the Fractional.art auction?

In the case of the NFTs selling, everyone will want to claim their ETH in exchange for their $FREE tokens, at which point we will distribute a new token with the sole purpose of governance for the DAO treasury.

by | Dec 7, 2021 | announcements | 0 comments

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