Hey DAO Team! @Geraldine @Fawne @Cyril
I know you’re hard at work with the delegate interviews. I’m posting this request in advance of a podcast episode I’m doing within the next week about the Sandbox Foundation.
I’m moving this episode up the priority list due to what is happening in the ApeCoin DAO with AIP-466 (Context: Link 1, Link 2, Link 3, Link 4). It has revealed an interesting connection to their APE Foundation that is affecting the ApeCoin DAO community. That same APE Foundation structure in the Cayman Islands mirrors what we have with the Sandbox Foundation, so there’s a need to cover this topic earlier than I expected.
I again want to invite @Cyril , or any representative of the DAO Admin Team, as guest on the episode. I promise you’ll be in good hands and I’m not interested in demonizing or being unreasonable. If you can’t attend, I understand
Here are my findings & questions I intend to pursue in the upcoming episode. If a member of the DAO Admin Team is unable to attend, I’ll cover it with what information I currently have.
Open Discussion Questions
- Who has control of the Sandbox voting wallet? Single person or Multisig?
- Who has control of the 9 treasury wallets? Single person or Multisig?
- If the DAO Team is approving the milestones for SIP authors to be paid, who is sending the funds from the wallet?
- How often do you interact with the Special Council?
- How often do you interact with the Advisory Board?
- What is your role during the Special Council meetings?
- How much are you compensated?
- How big is the DAO Team?
- Who wrote the Constitution, Memo of Association, Articles of Association?
- Do you have any connection at all with the ApeCoin DAO or APE Foundation?
Going over the organization chart
I’m constructing an organization chart and process flow map for how the DAO is structured and operates, it’ll include
Going over Memo of Association
- Pg.2: What does “without any share capital” mean in Memo of Assoc
- Pg.2-3: Section 4 grants wide authority to do almost anything, is this what you meant when you said you wanted to set things up for the DAO to take over in phases so that the DAO is ready when it’s granted the ability to take over?
- Pg.4: What does “The Foundation Company may cease to have members” mean?
- What does “wound up” mean?
- Pg.5: This begun 20 November 2023?
Going over Articles of Association
- When are Ordinary Resolutions & Special Resolutions made?
- Pg.2, Section 2.1: Per Cyril & Seb’s AMA statements the the goal is to transfer responsibility to the DAO…What legal power does the DAO have over the Founder (Section 3) or the Foundation’s members (Section 4)? What is envisioned in the future?
- Pg.3, Section 3.2: It seems as though the Founder has unlimited power without ability by anyone else to stop or limit the Founder? Seb also said in AMAs that he could be fired, how is this possible with the power bestowed on the Founder?
- Pg.3, Section 3.2(d): What does “settle their powers” mean?
- Pg.3, Section 3.3: what does “free of any duty” and “exercised for own benefit” mean?
- Pg.3, Section 3.4: What does this section mean? Is this how the Founder will give up power to the DAO?
- Pg.4, Section 4: What purpose does the Member serve?
- Pg.4, Section 4.1: Who is the “initial subscriber”?
- Pg.5, Section 5.6: Who are the “Directors and Officers”? Is it the Special Council?
- Pg.7, Section: 6.1: Who are supervisors? How do they differ from members, directors, officers?
- Pg.14, Section 15.2: The Directors can override the Articles of Association?
- Pg.14, Section 15: Why are there so many references for “Winding up” and does it mean liquidation?
- Where are the elections of the board members, founder or director?
- What clause in either Articles forces an election come December 31, 2025?
Going over DAO Consitution
- Pg.1, Section 1: Articles & Memo of Assoc don’t reference the Constitution, how much power does this Constitution have versus them?
- Pg.2, Section 1: Transparency, “Transparency is the cornerstone of our operations…We actively involve our community in the decision-making process” How does this align with the early decision to not include the community in the DAOs formulation?
- Pg.2, Section 2: The types of SIPs (Financial, Ecosystem, Governance) don’t show in the SIP template, how do these three play a role in the DAO?
- Pg.4, Section 3: 1% quorum is 30M VP, which has been difficult to get. Should it change?
- Pg.6, Section 4: “Members may be re-elected but may not serve more than 3 consecutive terms.” What does this rule protect? How does it benefit more than it hurts well-qualified Members?
- Pg. 6, Section 4: “A Special Council member may be removed and replaced before the end of the member’s term pursuant to an approved SIP.” How does the Founder’s power in Articles of Assoc (sections 1 & 3) integrate with this power? Can’t the Founder override this?
- Pg.6, Section: 4: “politically exposed person” what qualifies as this? “Moral turpitude” as defined by whom?
- Pg.7, Section 5: Why are Advisory Board members not compensated?
Sent out a tweet here: x.com