Proposal for the Strategic Transition and Stewardship of Abracadabra and $SPELL

Proposal for the Strategic Transition and Stewardship of Abracadabra and $SPELL

Summary

This proposal seeks approval from the Abracadabra DAO community for the transition of operational stewardship, treasury management responsibilities, and ongoing protocol development to a new leadership and development group led by Anubis, supported by strategic partners including Nemesis Trading and Alapin Holdings (dao5).

The objective of this transition is to revitalize Abracadabra as a leading DeFi protocol, restore growth across the ecosystem, strengthen governance, and establish a clear roadmap for the long-term success of $SPELL and the broader Abracadabra platform.

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Background

Abracadabra has long been one of the most recognizable and innovative protocols within decentralized finance. Through its unique lending model and strong community support, the protocol became a major participant in the DeFi ecosystem and established the $SPELL token as a widely recognized asset within the industry.

As the DeFi landscape has evolved, the protocol now requires renewed operational focus, development resources, strategic partnerships, and long-term capital commitment to regain a leadership position within the sector.

Following discussions between existing stakeholders and experienced industry participants, a new group has expressed interest in assuming stewardship responsibilities for the protocol and treasury, with the goal of accelerating development, expanding ecosystem participation, and positioning Abracadabra for its next phase of growth.

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Proposed Stewardship Structure

The Abracadabra DAO will continue to remain the governing body of the protocol.

Subject to DAO approval, operational stewardship of the protocol will transition to Anubis, which will serve as the primary operating entity responsible for execution, development, treasury deployment, strategic partnerships, ecosystem growth, and day-to-day management of protocol initiatives.

Anubis Leadership

Operations

• Greg Dewitt

Directors

• Paul Parker
• Glenn Kennedy

The incoming team combines operational, strategic, legal, and technical expertise intended to position Abracadabra for sustainable long-term growth.

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Strategic Partners

Alapin Holdings

The incoming group is supported by dao5, a leading crypto-native investment firm founded by Tekin Salimi. Prior to founding dao5, Tekin served as a General Partner at Polychain Capital and has been involved in supporting some of the most influential projects across the blockchain and digital asset ecosystem.

dao5 was founded with the vision of combining venture capital expertise with decentralized governance principles and has become an active participant in the growth of the broader Web3 ecosystem.

Advisor - Tekin Salimi

Tekin Salimi is widely recognized within the digital asset industry as an investor, operator, and former attorney with extensive experience supporting founders, protocols, and blockchain infrastructure projects. Through his work at Polychain Capital and subsequently dao5, he has helped support the growth of numerous leading crypto initiatives.

Jack Niewold

Discussions regarding this opportunity were facilitated through Jack Niewold, with whom members of the community have previously collaborated.

Subject to approval of this proposal, Jack is expected to serve as Project Lead, helping coordinate strategy, communications, ecosystem growth, stakeholder relations, and execution during the next phase of Abracadabra's development.

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Legal Representation and Transition Framework

As part of the proposed transition, Anubis is represented by The Rodman Law Group, which is acting as legal counsel to Anubis throughout the handover process.

The Rodman Law Group has experience advising technology companies, venture-backed businesses, blockchain projects, and digital asset organizations on governance, transactional, regulatory, and corporate matters.Dave Rodman, Managing Partner of The Rodman Law Group, is acting as legal counsel for Anubis and is assisting in structuring the transition to ensure that the transfer of operational responsibilities, treasury stewardship, governance authorities, intellectual property, infrastructure, and associated protocol assets is conducted in an orderly and professional manner.

The involvement of legal counsel is intended to provide the DAO with confidence that the transition process is being approached with appropriate legal oversight and documentation, helping facilitate a smooth transfer of responsibilities from the current operators to the incoming team.

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Proposed Transition

If approved by the DAO, the following actions will be authorized:

1. Transition operational stewardship of the Abracadabra protocol to Anubis.

2. Grant the incoming team the necessary access, permissions, and operational authority required to maintain, improve, and develop protocol infrastructure and associated smart contracts.

3. Transfer treasury management responsibilities to the incoming team, subject to ongoing DAO governance, transparency requirements, and future community oversight.

4. Empower the incoming team to deploy treasury resources in accordance with strategic initiatives, development programs, ecosystem incentives, partnerships, security improvements, and growth initiatives presented to the DAO.

5. Establish reporting procedures and governance updates to provide the community with visibility regarding treasury utilization, development progress, operational initiatives, and strategic milestones.

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Vision for the Future

The incoming group's objective is to re-establish Abracadabra as a leading force within decentralized finance.

Key priorities include:

• Accelerated protocol development.
• Expansion of utility and demand for $SPELL.
• Strategic ecosystem partnerships.
• Enhanced governance participation.
• Improved treasury management.
• Sustainable protocol revenue generation.
• Security and infrastructure improvements.
• Increased adoption across the broader DeFi ecosystem.

The goal is not simply to maintain the protocol, but to build the next chapter of Abracadabra and restore its position as one of the most respected and innovative brands within decentralized finance.

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Voting Options

For — Approve

Approve the transition of stewardship, treasury management responsibilities, and protocol operations to Anubis and authorize implementation of the transition framework described in this proposal.

Against — Reject

Reject the proposed transition and maintain the current operational structure.

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Conclusion

This proposal represents an opportunity to introduce new leadership, operational resources, strategic capital relationships, legal oversight, and development capabilities to the Abracadabra ecosystem.

Through the combined efforts of Anubis, Nemesis Trading, Alapin Holdings, Jack Niewold, and supporting legal counsel, the objective is to position Abracadabra and $SPELL for long-term growth, renewed relevance, and sustained leadership within decentralized finance.

The DAO is invited to review this proposal and vote accordingly.