Firn Unvested | What's next?
LunarDAO is an anonymity-first collective. We aim for sovereignty and are a part of a growing community of lunarpunks who understands that what we want in terms of privacy and autonomy, we need to create ourselves. Lunarpunks are visionaries as well as builders. Network privacy is hard to achieve and there is continous development to strengthen this piece of our infrastructure.
Firn Unvested: What's next?
A year ago LunarDAO invested in Firn. It was a small step on our path towards freedom, digital and financial privacy. Firn provides a privacy solution for Ethereum and EVM-based rollups. The user can deposit ETH into Firn and anonymize funds as well as send private transactions within Firn. Firn is an essential part of privacy infrastructure as large portions of web3 users use Ethereum.
The support from LunarDAO helped Firn get a Security Audit Report done by Blocksec.
Now, we are at another mark in our developement. We want to raise funds for DarkFi Research and development (R&D) and show support for anon developers. DarkFi's graphic designer created a unique cryptographic art NFT concept. See LIP-005 for more information on the proposal and dark.fi to read more about DarkFi.
Our relationship with Firn didn't end with a one time raise and token vesting. We are collaborating with Firn on the DarkFi R&D raise, building a solution for anon donations. All participants of the raise will be able to deposit funds into Firn beforehand and with FIRN application joining the new version of LunarDAO which will be created for this purpose. Firn integration of existing DAOhaus design makes it possible for lunarpunks to remain anonymous while using ETH.
It is now a year since LunarDAO invested in Firn and vesting of FIRN tokens have begun. Here is a recap in numbers.
- A year ago, LunarDAO purchased 4710 FIRN (worth of $67500) for $45000 (23.784 ETH).
- FIRN token was worth $14.33 / FIRN at that time, LunarDAO paid $9.55 / FIRN.
- When Firn users withdraw funds, they pay a small fee which is currently set at 0.79% of the ETH value of each withdrawal.
- FIRN circulating supply is around 76,762 FIRN tokens.
- LunarDAO holds 4710 FIRN which is ~6% of total FIRN token supply and recieved 6% of fees this year.
- At the time of unvest FIRN was valued $32.1745 / FIRN which is a price appreciation of ~237%, LunarDAO profit in USD is 106541. See Uniswap for current FIRN price.
- See LIP-0003 for the details on the Investment proposal. (txhash - executing the tx to FIRN: 0x980233c85d77f04aa3439ec9a40541d37515043ba76faf05f5e11438bbad6318).
- Vesting began June 1st 2023, 4:00:00 AM.
- For details, see contract (VESTING_DATE).