Summary
The Seed Club Foundation was established as a legal entity to support the Seed Club network. The Seed Club Foundation requires annual recapitalization to sustain its financial obligations to maintain its legal standing. This proposal would grant $125,000 USDC from the Seed Club DAO to the Seed Club Foundation in order to pay its recurring fees.
Objective: Recapitalizing the foundation wallet for its 2024 operations (125k)
The directors of Seed Club Foundation are represented by Marfire, Hash and Seed Club. The Seed Club Foundation has annual expenses to its directors and legal counsel. These expenses need to be fulfilled directly by the Foundation.
Annual expenses include:
- Annual directors fees.
- Annual legal fees (Foundation renewal fee and Foundation Supervisor fee).
- Ad hoc legal counsel fees as Seed Club’s structural needs evolve.
Implementation
If implemented, this proposal aims to allocate $125,000 USDC from the Seed Club Treasury to the Seed Club Foundation, which will distribute USDC to accepted projects or companies.
Vote
Yes - Transfer $125,000 USDC from the Seed Club treasury to the Foundation
No - Do not transfer $125,000 USDC from the Seed Club treasury to the Foundation
Off-Chain Vote
YES
232.16K CLUB100%
NO
0 CLUB0%
Timeline
Feb 19, 2024Proposal created
Feb 19, 2024Proposal vote started
Feb 22, 2024Proposal vote ended
Nov 06, 2024Proposal updated