Woke Up To The First BlockTunes Headlining Act GOLD Package SOLD! A...

This was certainly a nice way to wake up on a Monday morning! @blocktunes has sold it's first Headlining Act GOLD governance board package!

@imagenius is the first Headlining Act governance board holder! Thank you to believing in what we are doing over here at @blocktunes! All tokens were sent so now we have a total of 5 voting members in the BlockTunes DAO on BSC!

Changing of the DAO

So after some playing around and now knowing how things work with the DAO structure, we are going to be doing things a little different right now until we can get all the kinks worked out.

Really the only issue is that when we had BNB/BUSD LP in the Cub Kingdom, it was not showing in the AUM for the DAO and not showing on DeBank either. I gave it over 24 hours to show up but it did not.

Another issue is just the amount of votes that have to be made to interact with smart contracts at the moment. I do know that XDAO is getting ready to release their modules for the DAO and one of those is multiple transactions, which will make things allot easier. It was making me reconnect with wallet connect and set up a new vote ever time I wanted to enable something or remove liquidity. This shows up as the correct figures in the DAO.

So until the new features are enabled in the XDAO platform, we are just going to stack the base assets in the DAO.

So what we did was extract the LP and just put the funds back into the DAO as base assets. This also gives a way for LP holders to burn and receive their portion of the liquidity if they want to get out of the investment.

Screen Shot 2021-12-20 at 1.09.17 PM.png

As you can see, now we show the correct amount of assets under management in the DAO.

Here you can see on DeBank, the assets in the wallet after sending everything over.

Screen Shot 2021-12-20 at 1.10.44 PM.png

Using CUB Defi for BlockTunes

We do want to use CubFinance for much of our DEFI action for Blocktunes. So what we are doing is setting up our CUB Defi farms outside the DAO in a different wallet. This will make funding management a bit easier in the beginning. If we can see that the funds are actually going to show correctly, we may consider moving out LP back into the DAO, but for now and at least through the POLYCUB airdrop, we are going forward with the following adderss:

0x6618A18f5Fc81bb36871F71A7c23b4BF93622d79

This is the wallet address that we are now using specifically for BlockTunes. Our Cub Defi farm consists of 500 CUB/BUSD LP tokens currently. We are going to be taking our portion of any sales, so 30% of the initial governance sales, and the the 10% of any sales from NFTs or the store, and putting it into the CUB/BUSD farm as well as moving into the Kingdoms.

We will be harvesting and then sending the rewards to the DAO in the form of CUB on Mondays, Wednesdays, and Fridays.

Tuesday, Thursday, and Saturday rewards will be sold into BUSD to pay the expenses and team.

Another reason we wanted to keep this outside the DAO for now is because if we had CUB/BUSD locked and working in the DAO, then the POLYCUB tokens that would be airdropped to that account would be lost, or not accessible, so we will at least keep it here while the airdrop is happening.

If you look up the address on DeBank.com, then you will see the assets that are locked in CUB.

Screen Shot 2021-12-20 at 1.16.23 PM.png

Currently the 500 LP tokens are worth $650 at time of this post. We will be again adding to this farm to build up a consistent flow of assets into the DAO and to build up a nice fund that will help keep the lights on and build up some marketing capital to help get BlockTunes out to the masses!