Prior to our Generation 2 Vampiress mint, we announced the introduction of “The Blood Bank”. The Blood Bank is SVS’ community wallet — where members of the community will be able to see exactly where funds spent by the SVS team goes, along with being able to suggest how funds are spent via DAO voting.
We plan to have The Blood Bank as a focal point within future plans at SVS — we feel it important to keep the communities’ ambitions, visions and aspirations for the project as much as our own, which is why we want the Vamps to be able to decide the direction of SVS!
The Blood Bank is tied directly to our DAO where members can cast votes on how/what the funds should be spent. There is nothing that is off limits when it comes to suggestions!
Amounts & The Blood Bank Address
• 230 Ethereum was deposited to The Blood Bank following the mint.
• 50% of the Royalties from the Vampiress collection (2.5% of the Vampiress sale price) will also be deposited to The Blood Bank each time Opensea pays out. This will ensure a continuous flow of funds into The Blood Bank for future votes.
We will be using our original Snapshot DAO that we have had since the beginning of SVS.
We know that up to now this has been used on minimal occasions, but we encourage you to now make community proposals on it as to how you think SVS funds should be spent. We also encourage the community to be watchful and vote accordingly on proposals you want to pass.
We plan to eventually have a set amount of “Yes” votes required for this to then be automatically sent to the team for consideration — however at the beginning we are unsure of exactly how many community members will engage with each proposal, so will be beginning simply on a basis as to where we deem a large amount of community members engage with it as to where it will then be considered as an Official Proposal. We will keep everybody updated on any changes made.
Once a Snapshot has enough traction, and we are seeing a large amount of the community voting unanimously, we will bring this to the team.
This will include The Elders, but also Community Managers and our most active community members to discuss the specifics of the proposal and ensure feasibility. Once feasibility, legalities and potential execution has been ironed out — it will be posted as an “Official Blood Bank Vote”. You will be able to see official votes by filtering the Snapshot from “All” (everybody’s proposals) to “Core”, which are those posted by the team.
Note: we will attempt to keep it as close to the original proposal as possible, but if it is simply not possible then details may be slightly edited, and these will be outlined in the official proposal.
Please keep in mind that the SVS Team will also have the final say as to whether a proposal is made official. We also have team values, visions and plans for the projects — in which a particular proposal may simply be impossible to execute, therefore wouldn’t be made official.
Official proposals will remain open for 72 hours.
Any finer details such as how long votes are open, or if there is any requirement for a specific turnout for a vote to pass are subject to change and will be communicated (alongside official votes) if required, we first want to release an official vote and gauge community feedback.
Weighting of Votes between Tokens
One of the hardest choices in execution was deciding on whether any SVS tokens would have weighted voting when it comes to The Blood Bank.
We heard Vampire holder’s opinions that as the genesis token voting should be weighted so that they have a larger influence on the future of SVS — however, we feel The Blood Bank as a core community component to the success and future of SVS. We value everybody that is a part of the SVS community and want everybody to have their voice when it comes to the future of the project, whether they hold Vampires, Vampiresses or Bats.
Long term supporters and Vampire holders also had the opportunity to claim a free Bat Companion, and mint a guaranteed Vampiress, which inherently gives them a second and/or third vote via this token if and when held, and therefore does not dilute voting power vs number of new tokens if held.
There are merits to both weighting vs not weighting, however as of the opening of the DAO for The Blood Bank there will not be any weighting — Vampires and Vampiresses each get one vote per token.
We recognise large holders and Gen 1 holders, and that’s why Generation 1 Vampires will always have a plethora of utilities that other tokens do not have access to, however when it comes to not actual ‘perks’ but just having a voice about the future of the project — we see it as valuable for everybody to have an equal say. We will monitor this, as if there is any obvious foul play or influencing votes one way or the other directly tied to the two different tokens, this can be reviewed.
The First Vote: Charitable Donation
Our first DAO vote as previously mentioned is for a charity donation to a female-led organisation. Thanks to everybody who suggested a charity over the past two weeks. We had to narrow them down, mostly based on if they accepted ETH as a donation method. The six charities to choose from are:
• Malala Fund: https://malala.org/
• Eve’s Place: https://www.evesplace.org/
• Fistula Foundation: https://fistulafoundation.org/
• Mona Foundation: https://www.monafoundation.org/
• Cancer.org: https://www.cancer.org/
We are glad to announce this vote is now open, as our first official Snapshot:
The winning charity, from these six, will receive a 10 ETH charitable donation from The Blood Bank.
Be sure to check out the #final-proposals channel in our Discord to stay up to date and vote on Official Proposals once made.
We are very excited to be able to interact and grow SVS at a higher level now with the community and will bring nothing but positive things for us all as we strive forward together, as we know this has been a request since our original mint back in September 2021.