AssangeDAO has begun a voting process to decide whether to execute a transaction to exchange all or part of its JBX tokens for ETH on the JuiceboxDAO bonding curve.
AssangeDAO, a community dedicated to fighting for the liberation of Julian Assange, has raised 17,422.7185 ETH via juicebox.money to bid on the 1/1 Clock NFT, in February 2022.
The Clock NFT is a part of the Censored NFT curated by Pak in support of Julian Assange. The raised capital was the biggest Juicebox Ethereum raise in DAO’s history. As per the recent announcement, 5% (871 ETH) of the donations were retained by Juincebox as a fee. AssangeDAO received 87,478,938.88638015 JBX tokens in return.
Such that ETH 871 would be refunded by the JBXDAO to the AssangeDAO at a later time. However, a proposal to the JBXDAO to this effect was rejected.
Nevertheless, it is possible to exchange JBX tokens against ETH on the JuiceboxDAO bonding curve. At the time of posting the proposal, 100% JBX tokens may be exchanged for 197 ETH. Note that, the JBX to ETH exchange rate on the bonding curve fluctuates, and thus fewer or more ETH may be retrieved in exchange for AssangeDAO’s JBX.
The voting aims to redeem the contributor’s ETH as promised by AssangeDAO. The voting process started on May 10, 2022, at 3:58 PM, and will last till May 12, 2022, at 3:58 PM.
Following are the voting options proposed:
- Redeem all JBX for ETH
- Redeem 75% of JBX for ETH
- Redeem 50% of JBX for ETH
- Redeem 25% of JBX for ETH
- Redeem 10% of JBX for ETH
- Redeem nothing and keep hold of all JBX
- None of the above
The record-breaking contribution of 17,422.7185 ETH was made for the legal fees and campaigning to raise awareness about Julian’s extradition case. Out of which, The DAO has used 95% of the raised ETH to acquire the Clock NFT by Julian Assange/Pak to Julian’s Legal Defense Fund at the Wau Holland Foundation.
The ETH received via the bonding curve will further be used to fund the continuing operations of AssangeDAO.
