Hello there! I wanted to revive this discussion because I think overall this is a good idea that shouldn’t be abandoned. There is one key thing that I think was overlooked: sICX in the Emergency Fund.
At this moment, there is 742,901 sICX in the Emergency Fund. If we combine that with the current DAO holdings of 254,796 sICX, then the DAO would receive about 1,052,171 ICE if the snapshot were taken now (the actual value should be higher since the snapshot is at least a couple of weeks away). There is currently ~7,800,000 BALN staked, which translates to roughly 0.135 ICE per staked BALN if we were to distribute 100% of the ICE (I believe we should keep some ICE in the DAO Fund).
I suggest taking a snapshot of staked BALN at the same time the ICE snapshot is taken for ICX holders. Then, distribute 50-75% of the total ICE received by the DAO/Emergency Funds to those that were staking BALN at the time of the snapshot. The other 25-50% would go to the DAO Fund.
Based on current numbers, each staked BALN would get between 0.067 – 0.1 ICE depending on how much we decide to distribute.
The goal of this proposal is to increase value for BALN Stakeholders by letting them benefit from the ICE distribution. In addition, it also demonstrates how BALN Stakeholders can directly benefit from the DAO holdings, which is something we haven’t seen in action yet. The DAO will retain a significant amount of ICE and will continue to gain more naturally.
It may also help soften the BALN selloff caused by the snapshot.