The King's Bounty
In a first of its kind NFT community incentive, a $110,000 USD Investment Fund, The Kusama Kings Bounty (the “Fund”) has been established for the benefit of Kusama Kings. As described below, a portion of the investment returns to the Fund each quarter will become a 100% risk-free benefit to members of the Kusama Kings NFT community. No investment will be required for any King to benefit, although Kings who source, analyze and provide portfolio insights may be entitled to additional rewards.
The Fund’s goal will be to generate risk-free income for Kings while simultaneously growing Fund corpus. While the Fund is independent of the Kings, it will be administered by KBL (subject to King’s council governance), and all Kings can benefit each quarter from a portion of Fund gains with zero incremental investment beyond owning a King as of a quarter-end snapshot.
King’s Council (“Council”) will be elected by all Kings, and the Council will determine and approve any investment (or disposition) by unanimous vote. Council will be comprised of: KBL – permanent member 2 elected Kings, 12-month staggered terms, subject to re-election 2 rotating Kings with 90-day terms, re-election not permitted until a one term gap has elapsed.
All Kings will be invited to identify and submit high-conviction potential investments and make recommendations as to the timing of dispositions.
Each quarter, 30% of net Fund returns (“Quarterly Returns”) will be measured and paid out as follows (70% reinvested into the fund):
20% of all Quarterly Returns will be paid to all Kings, proportionate to number of Kings owned (all Kings treated equally) (Owning a Sword will double the return per King)
5% of Quarterly Returns will be allocated by the King’s Council to up to five (5) community contributors that the Council determines created a substantial specific contribution to the Fund’s returns over the relevant quarter
5% of Quarterly Returns will be allocated to the outgoing King’s Council (proportioned by days on council.