HIP-4 Sell UBI to finance the DAO

DAO
1

Introduction

The DAO currently owns 4 000 000 UBI. We propose to sell some portion of it through an auction in order to finance its operations.

Proposal

The Kleros Cooperative has expressed interest to buy for 150 000$ of UBI from the DAO. In order to keep the process fair, an auction will be made using gnosis auction which will allow everyone to participate.
The auction will last 1 week.
Up to 500 000 UBI with a reserve price of 0,00022 ETH/UBI (approx 0.50$ at current rate) will be up for sale.

Justification

The auction is primarily directed at selling UBI to the Kleros cooperative but will allow anyone to participate in order to keep the process fair.
The received funds would be useful to pay for the workers of HIP-3 but could be used for any purpose.

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2

This proposal has been put to vote.

3

As I see some confusion in the telegram.
The reserve price is the minimum price at which it will be sold, people can obviously bid higher. It then means that UBI will be sold at at least 0.50$ (but can be sold for more).

You can see this post for more details about gnosis auction.

4

The auction has been settled.
The DAO sold 204 181 UBI for 46.48 ETH ($174,561.01).

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