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Should we change the Secondary Market Fees?

Β· 3 min read

A proposal to change the royalties.​

Why does this proposal exist, you may ask? This isn’t a DAO, you can just change the royalty structure whenever you like.

This is true, but that isn’t how I want to run this community. I want transparency and I want my reasoning to be easily accessible. Project $TOKEN is no secret, we have made it clear that we are attempting to add an ERC-20 to the project but done legally and logistically soundly. A key part of our project is the KittyVault, the Bank of NFTs that back our cats and our first line of airdrops.

So far we have seen a focus of the community wallet to buy things for the KittyVault and this is not a problem at all. But what if proposals feel obliged to do so because that is where the true backing of the project lies and this is suppressing some more creative ideas from coming to light. Just thinking about what other projects have done off the top of my head from a community POV β€” Advertising on billboards, Times Square, sticker campaigns, community leadership. All of these things could be funded with the community wallet.

How does Project $TOKEN tie into The KittyVault? The community wallet is governed by the Purrnelopes Country Club Cats; what if one of the many utilities of the ERC-20 token was governance for a portion of the secondary revenue which is dedicated directly to the KittyVault. This would achieve two things. Firstly, it would add a cornerstone of utility to the ERC-20 token which would be key for the token use overall and ensuring we are releasing it legally. Secondly, it would allow people to think more freely with the community wallet funds. Maybe you still want to send that to the KittyVault, that is fine, but it also encourages more creative thinking.

What am I proposing?​

  • Secondary Market Fee: Increased from 2.5% -> 3%
  • Community Wallet Funding: Decreased from 1.5% -> 1%
  • KittyVault Fee Introduced: 0% -> 1%

So, as you can see the suggestion is that the secondary market fee is raised by 0.5% to 3% and the community wallet fund is lowered from 1.5% to 1%. This creates an increase of 1% that I am proposing goes towards the KittyVault directly which is governed by the ERC-20 token (Project $TOKEN), which your PCC will yield daily.

The team’s share remains exactly the same at 1%.

Secondary Market Fee: 3% total

  • The Team: 1%
  • Community Wallet: 1%
  • KittyVault: 1%

Before any kind of 1 Cat = 1 Vote Yes / No on this I want to talk to the community. Send me a DM with your concerns, chat in the discord, ask me the hard questions.

Do you like it? Do you not?

Let’s open the dialog and see if there are any major concerns before asking the people if they would like this to pass.

Mini Meow,