I donât see any indication in SIPs -1, 2, and 3 that this was a loan. However, as I have learned from ApeCoin DAO and Star Atlas DAO, both Foundation Companies, the originating company could impose their own restrictions simply by controlling the wallet, or having a separate agreement.
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Thanks for the clarification, @Lanzer . @Cyril âs proposal is very transparent, and itâs clear that both he and the TSB management team have thoroughly vetted the potential impacts and implementation details.
If we are to maintain the DAO, we must provide a compelling justification that aligns with TSBâs strategic goals. I suggest we outline our primary arguments here in the forum first, then use that as a foundation for our discussion with TSB during the live podcast on X later today.
Assuming TSB has already modeled those projections, what further reasons can we provide to bolster our position before the discussion?
I suspect TSBâs 3.0 strategy might be headed in a different direction than what youâre suggesting. To make this more persuasive, do you have a more robust or compelling reason we could present that bridges that gap?
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Hmmm⌠what are your thoughts about these:
Reason A
â#1 No new funding SIPsâ and â#3 Governance bodiesâ are not co-dependent. #3 can continue without adversely impacting #1
Reason B
Continued exclusion of community-nominated bodies will increase community frustrations and repeat missing the mark with the community. Example: The first Special Council and Advisory Board were nominated by internal corporate deliberations and proposed to the community, resulting in intense outrage and a year of absent responsive leadership.
Reason C
Continued overreliance on internal corporate deliberations will repeat the cycle of misapplied solutions. Longstanding community sentiment is that decisions are âhanded down from on highâ from a âclosed systemâ, consistently sidestepping the necessary process required for precise fulfillment of community needs. Example: Conducting multiple restricted X Spaces where only corporate individuals and unfamiliar KOLs are invited on stage.
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Iâm still seeking a bit more clarity on Reason A, but I find B and C to be very straightforward and am fully aligned with them.
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Hello all,
Just to correct some data that is exchanged here, although this is not my place to comment on this SIP but rather The Sandbox team.
The 15.5m SAND was a donation with no string attached, not a loan.
It was never swapped to USDC from the get go, (remember the first SIP were only payable in SAND) and most of our treasury remained in SAND. It was swapped tactically when the exchange rate was favorable, and to pay for certain bills, or SIP that were billed in FIAT, ETH or USDC.
With a SAND at 0.10, what is effectively left in the vault today is 891k USD, not 4m.
And this is not taking into account the bills that are left to pay for this years, to maintain the systems.
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[AMA Summary] SIP-39: Strategic Transition to Sandbox 3.0
Core Objective: Pause DAO operations to reallocate resources towards core product development and AI-driven innovation.
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Resource Optimization: Shifting focus from administrative DAO overhead to enhancing platform UX and âSandbox 3.0â features.
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Operational Shift: Transitioning the DAO to a âDormant Stateâ effective April 1st, minimizing costs while maintaining historical records.
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AI & Creator Tools: Prioritizing the development of AI-driven tools and the Sand Chain to empower the creator economy.
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Existing SIPs: Most approved SIPs will be honored through Q1; however, 3 unstarted SIPs (26, 33, 36) will be discontinued.
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Next Steps: Following the 1-week discussion, a 2-week voting period will commence. Sandbox team will vote in favor to support this transition.
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Thank you for your comment, hishmad. We hope todayâs AMA helped shed more light on the road ahead for The Sandbox.
SIP-39 is intended to be both operational and strategic: it pauses SIP intake, programmes, and operations to preserve the DAOâs assets and ensure it is best positioned once itâs determined how the DAO should contribute in the context of The Sandboxâs evolving ecosystem and what the best future model should be.
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Just confirming this is the legit Sandbox account. Be careful about impersonator!
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X Space playback bug strikes again and Iâm unable to play the recording. Did anyone record it or take notes?
Here were mine:
- Space lasted about 30 minutes
- Pandapops was the host, with Seb, Robby, Cyril as speakers
- Robby: The point of the pause is to conserve resources while we focus our efforts on Sandbox 3.0 (SandChain and Corners)
- Robby: The Sandbox wallet will be voting with its VP
- Cyril presented a rewritten Constitution (bylaws) to the Sandbox, but the Sandbox chose not to pursue that path.
- Special Council and Advisory Boards elections will not be held.
Iâm going live on SANDDAO later today so any recordings would be really appreciated.
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Ah. Yes I forgot to account for the remaining amount in todayâs value. Itâs difficult to calculate that value because not all SIPs were cited in SAND, some were USDC and others were Euros. I had to convert all of them into USDC the day the vote ended to come up with a rational number.
The number I came up with was $460K (4.6M x 0.10)âŚI must be missing something. Cyril would you mind sharing your formula?
The whole calculation sheet
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Hello Lanzer, we would like to share some clarification on âReason Aâ. SIP-39 is not only a pause on new funding SIPs, it also pauses DAO operations and governance activity as a whole.
Under SIP-39, the Special Council and Advisory Board will be discontinued along with SIPs. This also means their related activity and remuneration will stop.
The Constitution remains as a reference framework, but revised to remove certain governance functions as defined in SIP-39.
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At this stage, the DAO âpauseâ timeline is indefinite. The Sandbox and The Sandbox Foundation will review options that present the best future for the DAO. If and when there is a concrete proposal (reactivation or a new model), it will be shared as an update in the SIP / Forum thread. Until then, the DAO remains in a maintenance mode with minimal activity as defined in SIP-39.
Re-activation would involve a new SIP that defines scope, mandate, governance model, and budget.
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Hello @Lanzer
Iâm afraid the picture you are presenting is overly simplified. Iâll respond briefly to not sidebar this thread:
Basically we have done multiple swaps throughout the life of this DAO using different rates.
- Sometimes when the market was in our favour,
- sometimes to pay for certain bills that were not in SAND.
- We have also applied what we called the 70/110 rule to certain SIPs. Meaning we have protected the author from the SAND going to low (down to 70% from the original rate at the time the SIP was voted), meaning for certain SIPs we had to pay more SAND that what was intended. The 110% is the other way around, to protect the DAO from overpaying the author.
- Later we ditched that rule, deemed too complex, in favour of what we called a âgrant lockâ: we fixed the exchange rate, at the time the SIP was approved, and swapped to USDC directly (and saved it, until it was time to pay). It was mainly used for later SIPs, labelled in USDC.
- We also had some income using various defi protocol and for example the work of the Art team
The final number that I have given (891k) is automatically calculated by our self custodian software and accounting, and is mainly made of SAND, ETH (all counter valued in USD) and USDC. It is the golden source and cannot be approximated by a formula, sorry!
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I understand. My position is that itâs possible to go through with not allowing any new funding SIPs and still continue the governing bodies (SC & AB). It doesnât have to be everything paused all at once, and the Sandbox loses very little by continuing governance.
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Yes, makes sense, thanks for explaining.. My numbers are based off this method. I converted the USDC amount for every SIP at the time it was approved. I understand that it isnât as accurate as your methods. 
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well to be fair, itâs more a direct export from the DAO PNL and balance sheet than a method per se 
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Something I noticed while livestreaming SANDDAO 67 todayâŚ
SIP-36 land estate sales is extremely value-added to the Sandbox itself. What was the discussion behind including it in the list of canceled SIPs? GBMâs auction site is on the Sandbox.gameâs website, and it useful to everyone with an estate.
Just curious
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After all this discussion, it seems clear that going against the SIP is not the best option. If the DAO is the body of The Sandbox, then the body has to follow the head. We have no interest in being a dead weight or a costly burden within the system.
I will therefore vote YES.
//EDIT//
It seems that itâs over for an indefinite period. It has been a very interesting experience, and Iâm grateful to have shared it with all of you.
Periods of calm and of tension are both part of the life of any âliving system.â Thank you all for these moments of exchange, dreams, and sharing.
I really loved that feeling of building something together with everyone. Nothing is set in stone â weâll see what tomorrow brings. In any case, a big THANK YOU to all of you.
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Spoke with Seb about the DAO Pause, Special Council, and way forward. My opinion: I think itâs clear we can continue this DAO with governance bodies while being budget-conscious.
This is the best way for the community to be part of the decision-making process.
Iâll be voting to continue the DAO.
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