SP 13 Foundation Grant

Authors: benjacobs.eth

Implementation Lead: benjacobs.eth

Summary:

The Seed Club Foundation was established as a legal entity to support the Seed Club ecosystem, including making grants, holding off-chain assets, and entering into legal agreements. The creation of the Foundation required ~$75,000 USD to set up and there are ongoing financial obligations and expenses to maintain its legal standing. This proposal would grant 250,000 USDC from Seed Club DAO to the Seed Club Foundation in order to pay these existing liabilities while also providing USDC to pay future expenses.

Motivation:

• Seed Club Foundation has outstanding liabilities to its legal counsel and other service providers.
• Ongoing and future expenses (payment to Directors, compliance, etc) should be paid directly by the Foundation.
• The 250,000 USDC grant is going towards Seed Club Foundation which was created to support Seed Club DAO. This capital will be used to further support the DAO’s mission.

Implementation:

If the vote were to pass, the Seed Club DAO multi-sig would send 250,000 USDC to the Seed Club Foundation’s multi-sig. All payments pertaining to the Seed Club Foundation would come from the Foundation’s wallet.