This week Do Kwon, the creator of Terraform Labs, made a fresh proposal to the Terra community. He asked LUNA holders to vote on a new five-year, $38.5 million sponsorship with an unknown club in one of the United States’ “big four” sports leagues (MLB, NBA, NFL, and NHL). It appears to be the first time a DAO (or similarly structured entity) has had a collective vote to engage in sponsorship in sports history.
Terra’s ‘Luna Foundation Guard,’ or LFG, announcement was just a few weeks ago, and it was the first part of a three-part release.
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The proposed funding comes from the community pool, and the proposal is built around a few key elements:
- The narrative is based on the idea that the leading decentralized stable coin machine securing sponsorship of this caliber is symbolic of a larger “DeFi to the masses” movement.
- The notion that being courageous is primarily for the purpose of advancement.
- The rationale is: “stimulating DAO governance inventiveness to fulfil its full potential.”
