Alpha DAO: Proposal #20

Disclaimer: This is not investment nor investment advice. Only you are responsible for any capital-related decisions you make and only you are accountable for the results.

The information made available in this report is NOT for replication. The purpose is to share the thought process behind the DAO’s decision making – additionally, this is a HIGH RISK journey for the DAO which means capital has also been allocated in accordance with this. Once again, DO NOT REPLICATE.

 

Asset

Friktion Airdrop and Lightning OG NFT

Description

Friktion has an airdrop coming up, when they release their token. We have solid ideas around how we can qualify for this. Getting involved in Volts (their structured products), using Entropy, and owning a Lightning OG NFT are all involved.

See Friktion deep dive article for full details on the platfrom.

Proposal

Use Phantom wallets to qualify for Friktion airdrop by using the platform, buying the NFT and testing Entropy exchange.

I propose a 7 SOL limit on the purchase price of each Lightning OG NFT (was 5, 7 due to price action recently).

Airdrop

Strategy and Execution

If we have access/ability to use multiple addresses, this would be preferred. I would ideally like to use 5 Phantom wallets for the airdrop farming, although I’m not sure of the logistical set up of the Alpha DAO wallets.

Steps

If we don’t use 5 wallets, I propose we buy 5 Lightning OG NFTs anyway (potential to up this number to 10 if we agree on it).

Either way, for the NFTs I propose selling 40% at a 2x, and holding the remaining 60% with a view of evaluating their position when more is known about the airdrop.

For the Volt positions, I propose we leave the funds in there until we hear more about the airdrop, potentially moving them around depending on market movements and Volt performance, but I will keep an eye on this.

Exit Strategy and Notes

If we don’t use 5 wallets, I propose we buy 5 Lightning OG NFTs anyway (potential to up this number to 10 if we agree on it).

Either way, for the NFTs I propose selling 40% at a 2x, and holding the remaining 60% with a view of evaluating their position when more is known about the airdrop.

For the Volt positions, I propose we leave the funds in there until we hear more about the airdrop, potentially moving them around depending on market movements and Volt performance, but I will keep an eye on this.