Climbers who establish new climbing areas and routes within existing areas, put in hours of work cleaning and bolting lines simply to give to the community and create something they are proud of. There is no existing system in the world in which climbers bolting new routes can get paid or reimbursed for their generous work. The ClimbingDAO would like to change that.   

The ClimbingDAO will be an organization working on the Ethereum network and will have the following outline. There will be an initial pool in which DAO members can pay into and receive voting tokens in return, our initial fundraising amount is $10,000 USD. Climbers looking to establish new lines can propose their climbs onto the forum; after some discussion on the forums, proposals can move into votes. In order for a vote to pass, ClimbingDAO needs at least 10% of all votes possible to occur for a quorum, and from that it is simple majority rules to see if the proposal is granted to the climber establishing the new route. The other proposals accepted by ClimbingDAO are those looking to fund a particularly notable climbing expedition. Similar to the establishing route system, expeditions should have a discussion on forum outlining the group, plan, and purpose prior to moving to a vote. Expedition proposals can be voted on and subsequently funded the same way as establishing routes.

Funding of expeditions, routes, and trail upkeep is done primarily through the profits generated through the staking protocol on the Ethereum network. ClimbingDAO aims to operate in a 'scholarship' fashion, in which funds are input into the DAO treasury by members and locked for a period of time. During that period, the DAO is staking the provided funds and reaping the staking rewards. These rewards are retained by the DAO and deployed into the projects voted upon by the community. Any DAO member's funds may be retrieved by the donor once their locking time-period is completed.

Once a route has been verifiably established and received its First Ascent (FA), the wallet responsible for the project may choose to receive an NFT collectible [1 of 1] for that route. In this way, each First Ascent of a new line will have an associated NFT minted to the climber who completed it. All NFT collectibles can be traded and sold; in each transaction of the NFTs, the ClimbingDAO will receive 10% of sale price, which will be allocated back into the ClimbingDAO treasury to continue funding new projects. Additional minting opportunities include completing funded expeditions, as well as completion of notable “Classic” climbs. Classic climb tokens can be received following a verified trip report or tick of that climb.

The ClimbingDAO will be managed by the founding wallet, which is allocated a reserve of 10% total funds in the treasury. These funds are allocated to the founder in order to cover costs associated with administration, marketing, incentives, NFT generation, ether-gas fees, verifications, and other associated costs. Funds are not to be used as payment or wealth building for the founding wallet; these 10% of funds are reserved for outerverse events such as tenting events, swag for members, travel expenses, non-ether payments, etc.