Type

Operations Direct Action

Author(s)

Nallok, Proph3t

Overview

Four weeks ago, MetaDAO completed its strategic partnership as part of Proposal 19. To support MetaDAO’s operations, we have created a US entity as a vehicle for paying MetaDAO contributors.

Of note is:

• This entity does not have nor will own any intellectual property, all efforts produced are owned by MetaDAO LLC.
• This entity will be responsible for the costs of services and development and not have authority to encumber MetaDAO LLC.

We are creating this proposal with a memo instruction to agree and sign the services agreement, which is legally binding as defined in MetaDAO LLC’s operating agreement. You can review this agreement here:

https://docs.google.com/document/d/1vvl94DpvSpJoPGFyESs1TbGpnNf6zGBYp5a-5wwGXgM

If passed this proposal will execute the memo instructions which will act as a countersignatory to the agreement. The first disbursement from MetaDAO LLC to the entity will occur on September 1st, 2024 or when passed, whichever is later.

This agreement can be canceled by the DAO with a 30 day notice or immediately through material breach of contract by either party. A 30 day notice and cancellation would need to be executed through a proposal.

If any significant material expense is to be assessed or significant changes to the contract are to be made, those shall be put through the governance process of MetaDAO.

• The expected annualized burn is $1.378M.
• You can read about our Q3 Roadmap.
• For where current numbers in the agreement were arrived at you can review the alignment proposal.