Squid DAO’s Mission Statement

Squid DAO’s mission is to be the future of finance, embracing fairness, transparency, meritocracy, partnership, equal access, all with ETH as the unit of account.

Squid DAO stacks ETH in a non-dilutive manner, while giving the community full control of the systems, fees, and revenues via NFTs (SQDN) and veSQUID governance.

Staking SQUID will ultimately outperform simply holding ETH.

Squid DAO Inception

On October 20, 2021, a group of DeFi founders, devs, and degens came together to initiate the true fair launch inception of Squid DAO. These founders believed merging proven models, from various DeFi and NFT protocols, would enable them to build a truly community-owned ETH-backed investment vehicle.

Most importantly, this creates a flywheel by auctioning governance rights and protocol revenue packaged in beautiful NFT art. The treasury brings in ETH (ultra sound money 🦇🔊) everyday from NFTs, bond sales, and the yield on the ETH is invested, creating a powerful, long term store of value at the intersection of DeFi and NFT.

Squid DAO Inspiration

Squid DAO merged successful aspects from different protocols to build a new model for DAOs — funded by NFTs, powered by DeFi.

• NFT auction funding mechanism & NFT-based governance — Nouns DAO
• Locked token governance — Curve Finance
• Protocol owned liquidity model — OlympusDAO
• Immaculate inception, fair launch, community owned — Yearn Finance
• Ether as reserve currency — Ethereum Community

This is the classic example where 1+1=3.

The combination of these best practices together result in greater value than the sum of the parts.

Treasury Strategies

Squid DAO’s major advantage is its singular focus on getting and stacking ETH safely.

ETH is ultra-sound money and the new benchmark.

By being 100% allocated to ETH, Squid DAO can beat nearly all traditional benchmarks while also enabling anyone to participate in the network in a permissionless and censorship-resistant manner.

Fair and equitable finance — this is the future of finance.

Governance Rules

Users that participate in governance through Kraken NFTs or veSQUID tokens will receive 50% of revenues generated from Squid bonding. (The other 50% will be distributed to protocol contributors).

1 NFT = 1 Vote

1 veSQUID = 1 Vote

In order to obtain veSQUID, users will need to lock their sSQUID for a predetermined time period — in the same manner as Curve Finance.

• 1 SQUID locked for 4 years will equate to 1 veSQUID
• 1 SQUID locked for 2 years will equate to 0.5 veSQUID
• 1 SQUID locked for 1 years will equate to 0.25 veSQUID
• 1 SQUID locked for 6 months will equate to 0.1 veSQUID

Protocol fees will be awarded pro-rata to active voters based on their voting power.

Specifically, governance compensation will be paid out based on bonding fees collected by the smart contracts. The SQUID system has an adjustable fee function, meaning the protocol’s fees can be changed via governance votes. As of the time of this post, protocol bonding fee stands at 10% of all SQUID bonded.

Roadmap

Tokenomics

• wsSQUID
• veSQUID
• Squid assets as collateral

Governance

• Launch of full snapshot governance processes
• Protocol fee payout to voters

Eth Investment Strategies

• Collect CRV CVX
• Yearn Partner Program
• Leverage DeFi protocols to stack ETH and strengthen industry relationships
• Eth 2.0 node, sqETH

NFTs

• Onboard new NFT artists
• New NFT collections
• DeFi infused NFTs

We invite you to join our Discord and follow us on Discourse and Twitter for developments updates.