The idea
FriendshipDAO is one shared FWA crown position. Friends pool ETH, pair it with an eligible Friendship Bracelet, and compete for the Top Depositor crown through a purpose-built vault.
From pot to crown
The first campaign funds a fixed target in exact ETH increments.
A supplier transfers the Bracelet; the vault lists it and verifies the crown atomically.
Each contribution receives units from one ERC-1155 vintage.
The token carries its principal claim, reward history, and voting weight when transferred.
Taking the crown back
Anyone may add ETH to a standing first-come, first-served queue. Queue deposits remain refundable and receive no rewards or votes. After the crown is lost, the vault consumes only the live amount needed to retake it. If that target moves before execution, the vault accepts more queued ETH or refunds the unused part.
Every successful takeover creates a new vintage at that moment. Older vintages keep their earlier rewards; the new vintage shares only rewards earned from then onward. All vintages remain part of the same DAO.
Rewards and fee
ETH listing fees, completed crown rewards, and FWA token rewards are synchronized into reserves and never added back to the standing offer. This preserves earned yield even if the principal is later taken. The protocol charges 3% of each ETH and FWA reward stream; cumulative accounting prevents fee avoidance through tiny claims.
Governance and exit
Governance can authorize only a complete withdrawal. Voting weight is the prior-block sum of every vintage a wallet holds. There is no individual principal withdrawal and no interim reward claim: the transferable position is redeemed only after the whole FWA position resolves. Final redemption burns any selected vintages and pays their proportional principal plus their deterministic reward histories.
The only operational role is a two-step transferable fee recipient. It can claim accrued protocol fees and receives the Bracelet if it returns; it cannot move holder assets, change the fee, or execute arbitrary transactions.
The important risk
The crown can be purchased away.
FriendshipDAO’s ETH backing is a standing offer. If an FWA purchaser accepts it, that backing can be paid away. Reserved ETH and FWA rewards remain claimable, but participation can still lose most of its principal value.
The contracts are experimental and unaudited. Smart-contract, market, governance, integration, and liquidity risks remain. Participate only if you understand the possibility of a near-total loss.
Built in public
The vault has no database, proxy, upgrade path, or general treasury authority. Vintages, queue deposits, rewards, votes, and redemptions are derived from the chain.