Blue Chip Zombie DAO Activated

The infection has spread and we have now reached 50%.

We are in t he the process of looking around for suitable tokens that meet the criteria. We will make the purchase(s) and hold the asset in a project wallet.

There are two topics we would like to cover here, The Vault and The DAO.

The Vault

The original plan was to use a service called fractional.art to create a token vault and house the asset. This was a great idea, a few months ago, but since then there has been many innovations in the space which gave utility to holding the asset.

Once a token goes into a fractional vault, the utility is essentially disabled until someone purchases the asset from the vault.

For example if we had a MAYC in the vault during the Adidas token drop, we would have been ineligible for that whitelist. If we had a Cool Cat in the vault when they drop the Cool Pets, we would miss out on getting dropped that token.

For these reasons we have decided to purchase and hold the asset in the deployer wallet with the option to move it to a multi signature wallet in the future.

When the time comes for the asset to be sold and your $WORMS to be redeemed, we will deploy a new smart contract to securely facilitate the distribution of earnings.

Zombie DAO

The original plan for the DAO was to have the voting hosted on Snapshot.org.

We are still investigating setting this up but for the immediate future, to start integrating the community into the voting process, we may start running the initial votes out of the Discord.

Snapshot.org has proven to be effective for a number of DAOs in recent history, however given the explosion of DAOs across the NFT and Crypto ecosystem we do feel like there are probably some other effective voting mechanisms that we would like to explore before committing to the first one.