DEFI

Detailed explanation of FTX community partner Sun Bingsheng's MatrixDAO, actively inviting talents to collectively create a risk investment think tank

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Detailed explanation of FTX community partner Sun Bingsheng

Taiwanese cryptocurrency influencer and FTX community partner Benson Sun announced on the 20th the launch of the decentralized venture capital organization MatrixDAO. They will be selling Matrix NFTs in April to raise funds for DAO operations. NFT holders can participate in voting and discussions within the Discord community. Here is the related information:

MatrixDAO Purpose

  • Bring together talents to collectively research, make investment decisions, contribute expertise and resources to accelerate and incubate investment portfolios
  • Deeply engage in the development of investment portfolios in the form of a collaborative community
  • Share the social capital and relationship network of community members to form a new way of collaboration and investment
  • The DAO will jointly evaluate investment opportunities in the primary market and publish opinion reports
  • Believe that a high-quality community will be the key to the success of Web 3 projects

MatrixDAO Initial Members and Contributors

0x992 (Founder, Smartilab)
0xWizard (Twitter influencer, on-chain data analyst)
Adam (Partner, FTX)
Benson Sun (Founder, MatrixDAO & Community Partner, FTX)
GM (Research Partner, Dragonfly Capital)
Mable Jiang (Partner, Multicoin Capital)
MapleLeafCap (Partner, Folius Ventures)
Orb (DeFi OG, Blockchain Researcher @Cornell University)
Tempo Feng (Founder, Perpetual Protocol)
Bill Young (Co-founder, ChainNews & President, Winkrypto)
Zhixiong Pan (former Research Director, ChainNews)

MatrixDAO Sale Information and Conditions

Matrix NFT adopts a subscription system, initially issuing only 250 NFT ERC721A, limited to one address per mint; If the NFT is purchased and transferred to another address without proposal approval, membership may be revoked.

MatrixDAO will prioritize the following candidates to join the DAO:

  • Founders of blockchain-related projects/companies
  • Blockchain industry practitioners with titles at Director level or above
  • Venture capital professionals in the blockchain industry
  • Engineers/white hat hackers who have contributed to blockchain open-source projects
  • Digitally recognized art creators
  • Scholars with academic contributions in consensus algorithms, token economics, blockchain security, etc.
  • Opinion leaders with a certain number of followers who have long been sharing perspectives publicly

More detailed rules

MatrixDAO Plan Summary

According to MatrixDAO public documentation:

First Six Months

  • The DAO will raise two million USD through NFT issuance of 250 units, equivalent to 8,000 USD per NFT, priced at 2.5 ETH
  • Invite 400 registered members through whitelist and internal referrals
  • Recruit 10-15 main research analysts
  • Complete two investments before the sale of MTX tokens

6th Month to 18th Month

  • Raise twenty million USD through MTX token issuance
  • Establish an investment committee through internal elections
  • Complete six investments
  • Invite 200 registered members through whitelist and internal referrals

MatrixDAO Governance Mechanism

It has a governance proposal mechanism, where only DAO members can propose with a 25% threshold, requiring over 50% agreement to pass

MatrixDAO Fund Usage and Management

The treasury will have two sources of funds:

  • Matrix NFT fundraising will be used for DAO operational expenses, including website servers, team execution and research expenses, legal fees, offline activities; to prevent governance attacks, funds will be locked for 24 hours, during which multi-signatory members have the right to cancel
  • MTX token fundraising will be used to fund early projects and teams

MatrixDAO uses Safesnap Gnosis+Reality+Snapshot to manage the treasury, ensuring the rational use of funds through three online tools:

MatrixDAO Community Roles

  • Research Analysts: Write research reports based on various expertise as a key basis for investment decisions
  • Research Writers: Translate, synthesize, and digest extensive information to accelerate the knowledge level of internal members
  • Research Mentors: Composed of industry experts to ensure the quality of content output for the DAO and maintain research member qualifications

The research team has fixed responsibilities and rewards, see details.

MTX Token Sale and Usage

  • MTX tokens will be issued in 200,000 units, priced at 100 USD, using ERC20
  • Only NFT holders can purchase MTX, each NFT has 100 MTX quota
  • KYC required
  • Active DAO members can receive more quotas
  • MTX can be used for governance of the MTX token fundraising treasury