SP09 - Adoption and Funding of Seed Club Foundation

Authors: benjacobs.eth, brama.eth

Implementation Lead: benjacobs.eth and sloss.eth

Summary:

-Transfer 1.5 million $CLUB (15% of outstanding $CLUB supply) to Seed Club Foundation -Recognize Seed Club Foundation as the foundation partner of Seed Club - an important contributor to the ongoing development of the Seed Club mission and ecosystem

Motivation:

Seed Club has set forth on a mission to aggregate the highest quality talent network in web3 to accelerate and help launch world-changing tokenized communities. To accomplish these objectives, we believe it is imperative to further decentralize the funding and treasury management function of Seed Club.

Seed Club Foundation has been established as a Cayman Islands exempted foundation company. The principal objects for which the Foundation is incorporated are to benefit Seed Club, including acting on instructions pursuant to proposals passed by or on behalf of Seed Club.

More information can be found in the amended and restated memorandum and articles of association of the Seed Club Foundation.

Link: https://docs.google.com/document/d/1dHaev89J0EmvFlHCl6Ggm2rgeise5LKKxwugX6TC6pg/edit?usp=sharing

The initial directors of Seed Club Foundation will be Jess Sloss and two experienced Cayman based non-executive directors

Specification: -Transfer 1,500,000 $CLUB from the Seed Club treasury to the Foundation -Seed Club Foundation will have full legal & beneficial ownership and control over the $CLUB received, subject to its overall obligation to act in the best interests of the Seed Club ecosystem

Vote:

Yes - Adopt Seed Club Foundation as the foundation partner of Seed Club and transfer 1,500,000 $CLUB to Seed Club Foundation

No - Do not adopt Seed Club Foundation and do not transfer any $CLUB