LunchDAO is an autonomous organization that bids for "Buffett's Lunch" and promotes Warren Buffett and the traditional financial forces behind him to enter the crypto industry. We will raise a certain amount of funds by issuing DAO governancetokens to compete with the global high capitalists for "Buffett's lunch", and hopefully will send DAO members to have lunch with Warren Buffett. This will be a game between DAO and the elite.
Auctioning power lunch with Warren Buffett is not the ultimate goal of LunchDAO, but just the beginning. During the auction process, which everyone can participates in, the consensus of members will continue to strengthen, so that $Lunch tokens will continue to grow, and value-added. While LunchDAO will also give a wider range of value to the token. In the future, LunchDAO will use $Lunch tokens to vote and donate to increase the possibility for ordinary people to communicate with traditional financial forces through DAO, such as Warren Edward Buffett, George Soros, etc. And finally to fully empower $Lunch tokens and realize the ultimate vision of LunchDAO-Becoming the world's largest decentralized DAO community that communicates with traditional financial forces and cooperates for win-win results.
- We will have multi-signature from South Korean who has top credibility, one from political area, one from financial area, and one from legal area.
- Refund cooling-off period: After the fundraising is over, all users have three-week "Refund cooling-off period" (link to the "Refund cooling-off period" below). The unique refund mechanism will create an interesting game in the market, and therefore causing a dynamic balance.
- NFT: All users who participate in the donation will recieve a unique Dining Coupon confirmed by their crypto address. And the NFT will have the opportunity to be upgraded to a limited rare NFT with a quota of power lunch with Warren Buffett.
- Open and transparent: community voting needed when using treasury fund, which is transparent and secure.
- Real Wealth Code: For many years, quotas of power lunch with Warren Buffett were mostly monopolized by the elite. But now, we have launched a challenge between ordinary investors and the elite through the DAO. The ultimate goal of LunchDAO is the integration of traditional finance and crypto assests, so that Buffett's wisdom can be empowered in the entire crypto industry. Just like those winning bidders in the past, to get the code to unlock the door to wealth.
- A real lunch between Warren Buffett and the crypto world. Although Justin Sun, the founder of TRON, had successfully bidden power lunch with Warren Buffett before. While the develpment of the crypto industry was still in its infancy at that time; DeFi had just emerged; Metaverse has not yet entered the stage of history. So at that lunch, the crypto world and traditional finance were not regarded as equal fields. However, LunchDAO wants to create a truly equal and unbiased meeting and communication right now.
- True decentralization: LunchDAO has no project party, and the initiator does not reserve the tokens. Meanwhile, Finishing auction does not mean the end of the project, but just the beginning. LunchDAO will break the vicious circle of zero-all games in the past. Realizing "co-construction, sharing and win-win", and entering the positive development of games that enable token holders to obtain real right from it.
Hillstone is a comprehensive financial service platform that integrates the transaction and circulation of traditional financial products and on-chain assests. The parent company team is from the first professional M&A company in Korea. And the partner team members are professions with more than 10 years experience of investment from financial institutions such as Samsung Asset Management, Merrill Lynch, Barclays, Mira Assest, Dasin Securities, KTB and others.
As for Hwang Rayol, CEO of Hillstone, not only has rich experience in international private equity fund management, but is also a standing member of the current Korean Fintech Association. He has rich social network and experience in the Korean financial and technology fields, especially with the "Samsung Princess" Lee Boo-jin, the eldest daughter of Lee Kun-hee, the richest man in South Korea. And the CTO of Terra, a well-known blockchain project in South Korea.
At present, as one of the initiators of LunchDAO, Hillstone will be mainly responsible for providing LunchDAO pre-operational publicity support and leading the initial investment.
LunchDAO is completely governed by the community, so that all users who hold $Lunch can govern the project by applying proposals. The project will achive high degree of decentralization and autonomy. And users can decide the direction of the project through voting and other methods.
The $ETH raised by LunchDAO will be stored in the multi-signature address. And the multi-signature needs to authenticate using real name to increase the security of the wallet.
The official website of LunchDAO will submit a code audit and publicize the product contract audit report.
LunchDAO will raise a certain amount of $ETH through the JuiceBox platform. Users will participate in the project by donating $ETH to LunchDAO and recieve a corresponding amount of Lunch tokens in return.
JuiceBox: Users' payment($ETH) through JuiceBox→ JuiceBox mints and allocates the corresponding amount of tokens($Lunch) to the payer→ If the fund exceed the target, it will be regarded as a premium. And the overflowing funds will be in the treasury for holders to allocate. While redeeming tokens is one of the options for the holders.
After the fundraising completed, the refund channel will be opened. Users will have 3 weeks of "refund cooling-off period", so that who do not want to claim tokens can go to the LunchDao official website to return the donated ETH:
50% of the total donation will be deducted for the first week of application.
30% of the total donation will be deducted for the second week of application.
10% of the total donation will be deducted for the third week of application.
a. Unique Dining Coupon
All donors will recieve the corresponding dining coupon NFT generated based on the hash address of a single donation, which is open, transparent and unique.
The NFTs of 7 selected users who have obtained lunch quotas will be upgraded to limited rare NFTs, and holders can auction the NFTs at Opensea, which means that the lunch quotas will be transferred.
c. 50% of auction royalties will be used to repurchase $Lunch. Opensea auctions are supported only, if it is privately transferred, the quota will be void and the official auction will be held directly.
- 1.The lunch participants will take a photo with Mr. Buffett and then get the Photo NFT. The ownership of this Photo NFT is belong to participant itslef.
2. Group Photo NFT: The lunch participants will take a group photo with Mr. Buffett and get the Group Photo NFT. The ownership of this Group Photo NFT is belong to LunchDAO, and will vote to decide whether to auction the Group Photo NFT, and whether the auction price will be used for repurchasing $Lunch.
Questions for Warren Buffett
- 1.LunchDAO will collect users' questions and vote for the top10 questions, bring them to the lunch table and publicize the answers of Warren Buffett.
- 2.The top10 questions and answers will be minted as NFT and release on the ETH chain to auction.
Successful Auction of Power Lunch
Quota 1 - The biggest donor
Quota 2 - randomly selected from all NFT holders participating in Mint
Quota 3 - The publisher who has been the most retweets by LunchDao (kol1)
Places 4-7 - Opensea Auction
All valid users who retweet from the official website will recieve 10000 $Lunch tokens.
- 1.payment for bid price
- 2.using 5% of the remaining fund to add liquidity
- 3.After removing 5%, 50% of the rest remaining fund is used for tracking Buffett's investing product
- 4.the other 50% is used to invest crypto assest
- 1.50% of funderaising amount is used for tracking Buffett's investing product
- 2.50% of funderaising amount is used to invest crypto assest
(1) Launch JuiceBox and raise ETH
(2) Participate in Buffett's lunch auction
(3) Invite more traditional financial giants to join the dinner
(4) Improve the LunchDao ecosystem and long Crypto
Last modified 8mo ago