IP Transfer and a Separate CU DAO Entity

Hi TT,

I’m a bit confused by your comment. Did you review the DAO Charter? I feel like that clearly spells out how the DAO will function going forward it pretty explicit detail.

This is correct, for the short to mid term everything will run the same however legally LG will only be a vendor to the DAO. This is a critical step forward in our path to progressive decentralization.

Eventually LG + our Investors will not be a majority token holder. At that point the DAO would be able to vote us out as core developers if they choose. While I hope this never happens if some other developer comes along that can better support CU that would be the optimal outcome.

What specifically do you find to be “incomplete”? Please let us know and we’ll try to answer!

It’s a step by step process.

From our side LG’s Board of Directors and Shareholders have voted to transfer the CU IP and Treasury to the DAO.

The DAO doesn’t exist until the Charter for it is ratified by the token holders. Once the Charter is ratified we will paper a simple agreement between the DAO and LG.

I’m a bit confused about the “infrastructure” you reference. We have everything we need already in place and thus are just waiting for Tokenholders to ratify the charter.

Things are currently in a state of limbo and this Snapshot vote formalizes the transfer and tees up the next step which is a service agreement between LG and CU DAO.

Hope this helps!

Hey IslandGurl,

I’m open to a session but generally I feel like we’ve been talking about this plan for years now. I understand this is a big step and a lot of documentation. I’ve joined the council room to answer questions as well.

Right now my priority is on getting this Charter ratified so our entity is official. From there we can continue to iterate as we always have. This time with a more formal process (ie. Charter amendments).

Hi Everyone,

Just wanted to put a couple of general notes here and reinforce the vision behind this formal move to a DAO.

Since the beginning of this project we’ve been focused on progressive decentralization and unlike most projects we’ve been actively moving towards it. This transfer of the IP and Treasury to the DAO entity is the next major step along that path.

Effectively it formalizes the DAO and token holders as the true custodians of our shared IP and Treasury. While this doesn’t change things in the short term given LG and our investors Token holdings it sets up a long term framework for the DAO to operate.

Keep in mind that this is just v1.0. This charter can get amended and updated overtime.

Great questions which I see Nanessa has answered. My two cents below:

  1. You are correct on the proposal submission process. This is actually what we’ve followed to date. We have not blocked any proposal that met the formatting requirements. Obviously, to date if a proposal we did not like or felt was harmful went through we’d block it with out voting tokens. Going forward this will still be the case until such a time as we (LG team, Investors) lose the token majority.

  2. I’m also unsure what you mean by “this wasn’t the case in the past”. Any proposal that met the formatting was put forward as a draft. Ultimately it’s the council and not LG that vote to push a proposal from Draft to Snapshot for official vote.

  3. The Supermajority is somewhat tricky and involves thinking through a few scenarios.

For example, with Team / Investor unlocks on the horizon we’ll see lsRBW going down overtime. The only way to maintain voting power will be to lock up our unlocked RBW. So our ability to maintain a token majority is a factor of how much unlocked RBW gets staked vs how much RBW the community continues to stake. I really like this game theory as it forces us (team / investors) to stake RBW to continue guiding the DAO long term.

Thanks Aron for jumping in to answer questions. Read through many times of course. Learning more each time I reread. But you and lgNanessa answering questions is helping me very much. Appreciate it.

Awesome, I’m on deck to answer any more you or the community might have! :saluting_face:

This helps answer a question. As I could not see what the agreement was between LG and the DAO to build and maintain the game in the future. Obviously something that would be in LG’s interest to do. So this is a step that happens after the charter becomes ratified.

Thank You

Why not attach the service agreement as a part of this? Is it not possible to have the Snapshot vote formalize the transfer and approve you all as the service provider at time of transfer? Otherwise the DAO is operating without an approved service provider.

Am I correct that The Governance Facilitator is the role in which lgNanessa is currently performing.

(i) Facilitator Responsibilities.

  • The Governance Facilitator shall be responsible for organizing and managing Council Review.
  • The Governance Facilitator shall be responsible for ushering all Proposals in accordance with the Proposal Screening Process.
  • The Governance Facilitator shall publish a report detailing the positions of Council Members on the Governance Forum.
  • The Governance Facilitator will serve as a conduit to the Core Contributors, representing key issues with Team perspective, or inviting appropriate Team members not on the Council to attend to ensure a quality, informed discussion.
  • The Governance Facilitator shall coordinate the implementation and execution of approved Proposals, ensuring that deliverables and milestones are being met in a timely manner.
  • The Governance Facilitator shall, in a timely manner, process the payout of approved Grant Proposals upon confirmation that deliverables and milestones indicated in the approved Grant Proposals are being met.

You first need a DAO to sign that agreement with LG.

This is already a “big enough” proposal that I feel it’s unnecessary to add yet more complexity. Let’s not get caught up in the idea that LG is going to abandon this project until a service agreement is in place.

Keep in mind that LG is already ratified as the Core Developer in the charter itself.

Correct, this is currently lgNanessa’s role and will continue to be as long as LG remains the core developer. Eventually this role will transition to a DAO elected member.

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It’s not about thinking LG is going to abandon the project. DAO would be operating in a state of limbo, with no service provide, until DAO approve it. Which will take time.

LG as the core developer (as ratified in the charter) covers the gap between DAO ratification and the signing / approval of the service agreement.

Given the IP and Treasury will be assigned to the DAO once the above happens the service agreement will be basic and simply insure LG is payed for ongoing work and that IP assignment continues forward.

I appreciate your concern here. I’m simply telling you what our legal council told me as we discussed the specific steps and mechanics of this process.

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Thank You Aron for answering questions in Council room regarding this proposal. I now feel confident that team has a complete actionable plan to follow through when this proposal passes. Looking forward to the future of our DAO.

The council review session for this proposal has ended with the following results:

Yes: 10
No Vote: 1

With this, the proposal will be moved to Snapshot for the DAO’s consideration.

The voting period for CUIP-042: IP Transfer and a Separate CU DAO Entity has ended with the following result.

Result: Yes

Discussion: IP Transfer and a Separate CU DAO Entity
Snapshot: Snapshot

Yes: 50,677,689.31 + 200,000,100
No: 1,309.33

Total Votes: 250,679,098.64

With this, the charter is officially ratified and the paperworks to execute the creation of our Crypto Unicorns DAO entity and the associated IP transfer will proceed.
Thank you for being part of the discussion!