[AGIP 154] DAO Foundation Director Election

Author: CryptoGotchi GotchiID: 8612 Quorum requirement: 7.2M Discussion: https://discord.com/channels/732491344970383370/1428779365163864106 https://discord.com/channels/732491344970383370/1432430892164452503

Summary:

Our current Aavegotchi DAO Foundation Company Directors — Choyna and Nofuturistic — are both resigning. Hence, the Foundation requires at least one new Director.
This election follows the signal proposal -> core proposal process. This is the core proposal, i.e. AGIP, for this signal proposal: https://v1.snapshot.box/#/aavegotchi.eth/proposal/0xa0bdb8d05a900580870702f0518e10a7084561b7a1e099a2dea38d1155913c26

Previously, the roles of multi-sig signer and Director have been used interchangeably, when in fact, not all multi-sig signers were listed as Foundation Directors, nor does the Foundation require that many Directors. For that reason, this proposal assumes that AGIP 139 defined the terms for multi-sig signers, not Foundation Directors. Hence, there won't be a fixed term limit on the Director position. At any point, any member of the DAO can simply put up a new election or replacement proposal. That is a much safer option compared to requiring yearly elections for the Director position, whose replacement is a much more involved process and requires legal filings.

The Foundation Director elected by this proposal will not automatically become a multi-sig signer. However, they are also not prohibited from partaking in the upcoming, yearly multi-sig signer election (see AGIP 139).

Candidates:

We have two candidates for Director:

DAObox:

Detailed application:
https://discord.com/channels/732491344970383370/1428779365163864106

DAO call interview:
https://www.youtube.com/watch?v=oQcvbz4blQQ

Short summary:
Scope

• Appointment as a Director; assign required personnel to facilitate operations.
• Manage core daily activities in coordination with DAO contributors and/or supervisor.
• Oversee reporting, continuations, filings, etc.
• Semi-annual reporting to the DAO on material transactions and financials.

Commercial Terms (proposed)

• Two-year subscription; DAO may remove at any time.
• 6,250 USDC per month.
• Year 1 (75,000 USDC) payable upfront; Year 2 fee payable after the first 6 months of service.
• One-time GHST incentive equal to 1× annual fee at engagement; 1-year linear unlock.
• Fees exclude disbursements and costs (formation, renewals, etc.).

Nestor:

Detailed application:
https://discord.com/channels/732491344970383370/1432430892164452503/1434140751456899213

DAO call interview:
https://www.youtube.com/watch?v=W81HLSoEUFM

Short summary:
Proposed Scope:

• Appointment as a Director to pursue fulfillment of Point 5 of the Memorandum of the Aavegotchi DAO Foundation
• Availability for weekly meetings with other Directors, established committees, boards, Delegates
• Coordination with Directors, Members, and Delegates in any frequency deemed collectively useful
• Utilization of available degrees of freedom (Articles 17 to 23) to foster (if required under hired guidance) the creation of particular, well-described structures for communication in service of the evolution of a governance system conducive to responsiveness, efficiency, and accountability
• Monthly reporting (or any other cadence) to the DAO about ongoing deliberations, resolutions, and results in boards and committees
• Offer to be available at a weekly open-office hour
• Commitment to continued and ongoing studies of topical material
• Estimated workload: 30h/month (excluding studies)
• Shared discretion of the Legal Retainer from [AGIP 151] in case Legal Counsel is required

Commercial Terms:

• 8,000 USDC per year, paid out in monthly installments of 666.67 USDC

Miscellaneous

In addition, the option "both" has been added, since there is technically nothing preventing us from having multiple Directors. The option "neither" was omitted because we do need a replacement for the Foundation to stay compliant.

The Director(s) must fulfill all their duties required by Cayman law to ensure the Aavegotchi DAO Foundation Company remains compliant.

If the "both" option does not receive the highest number of votes, the singular Director-elect should complete KYC with the corp-sec within 30 days. If the Director-elect does not complete KYC within that time, the DAO may exercise an option to replace the Director-elect with the runner-up. This would be achieved via a one-week snapshot proposal that would not require quorum or a sig-prop/core-prop vote, just a simple majority. This is a safety measure so that the Director-elect cannot hold up the process indefinitely. The DAO may choose to exercise this option at a later time (e.g., if, initially, there is a good reason for the delay), or not at all.