Over a year and a half ago the Grape Syndicate was born by a group of 28 Grape members pooling their liquidity together along with the Grape Protocol to create one of the strongest stables in the horse racing game called Photo Finish on Solana. Since February 2022, a committed group of the Syndicate has been meeting virtually every week, with an estimated 40-60 syndicate meetings with each one at around 1 hour each. Through the excellent leadership of Riptyde and with the support of certain members of the Grape Syndicate council, the Grape Syndicate has done very well:
Without the need to sell a single horse from our stable, Riptyde has managed to clear $5.8k+ in clear profits for the Syndicate. The stable has improved rarity of our horses and we have high hopes to continue momentum for the rest of the year and beyond.
This proposal is aimed to reward the efforts of Riptyde and the active members of the Grape Syndicate Council with a one-time award of $GRAPE. Additionally, the Grape Protocol will award Riptyde with 2 NFT stakes, which represents overall ownership of the Grape Syndicate:
Grape Currently hold 10 Stakes in the Syndicate = 9.62%.
Each Stake = ~ 0.96% (OG cost per stake ~$600)
The proposal aims to transfer 2 NFT stakes to Riptyde which means:
With 8 stakes Grape interest => 7.84%
Riptyde currently holds 2 stakes = 1.92% interest in the Syndicate.
With 4 stakes, his overall stake increases to 3.85%
I believe this is more than fair as it gives Riptyde the same ownership stake as other Grape members outside of the Grape Protocol itself. This proposal will also propose to provide Riptyde a one-time award of 600,000 $GRAPE.
There is also a dedicated group of council members who has been supporting Riptyde the entire way by regularly attending meetings, suggesting different courses of actions, and representing the continued success of the syndicate. The total estimated effort of attending the syndicate meetings for the past year and a half is approximately 40-60 hours total. This proposal is asking for 600,000 $GRAPE to be distributed to the committed members of the council as listed below:
A lot of work has been done to ensure that the Grape Protocol’s syndicate is well managed for the past year and a half, and this proposal aims to award Riptyde and a small group of the most committed council members with $GRAPE on a proof of work basis.