Portfolio Sub-DAO Council: Epoch 2

Portfolio Sub-DAO Council Voting

• Portfolio Council voting is open for 7 days. You may change your vote at any time during the voting period. • Portfolio Sub-DAO Council Epoch 2 will run from June 18th - December 18th.

Candidate Information

The full list of biographies provided by the nominees as well as interviews can be found here: https://discord.com/channels/897797305883820032/979720526442426398/1103364886106472494 PDF for archive: https://drive.google.com/file/d/1sXnFdnVZoU7ybVAkIIX3ZXYagwbtDc8O/view?usp=sharing

Weighted voting

You can spread your voting power across multiple candidates to equal the total number of Ethlizards and Genesis Ethlizards you hold. You may also concentrate your voting power to a single candidate.

Shielded Voting

Results are hidden until the voting period completes.

Lizard NFT Tokens

Ethlizards Genesis, V2 and Locked Lizard (LLZ) NFTs are all eligible for voting and share the same voting weight.

The Portfolio Council is a critical part of the DAO and we encourage all members to vote on the candidate(s) that you believe will best serve the DAO. Each vote counts - do your part and go vote!

Voting Period

• 7 days starts on June 4th and ends of June 11th. • Qualifying nominees will be added to Snapshot for voting. Each Lizard corresponds to one vote and weighted voting is used meaning you can split your votes amongst a number of candidates if you choose, or lump them all into 1 vote for your favorite candidate. • The top 5 vote earners will be named to the council and will start a 7-day handover period with the current council. • Voting will be a blind snapshot vote. After voting has ended, the new Council will be issued council NFTs and start their term on June 18th.

Portfolio-Sub DAO Council Role and Responsibilities

Responsibility

The Portfolio Council are responsible for identifying promising early-stage Web3 gaming partner projects and providing financial support to them. The Portfolio Council makes financial decisions related to the sub-DAO portfolio as well as to vet potential sub-DAO vault expenditures. They are responsible for voting on any portfolio opportunities and also deciding timing and amount of liquidations during the given epoch. A Portfolio Council member always maintains confidentiality, offers their best efforts to bring deal flow and effective analysis to investment opportunities, and acts in the best interests of the DAO and sub-DAO.

Structure

The Portfolio Council consists of 5 community elected members, which are voted in for each epoch.

Duration

Epochs for the Portfolio Council last for six months (updated in LIP-16). If the community deems a council member unfit for duty or acting against the best interests of the sub-DAO, their term can be terminated early through an 60% no-confidence vote by participating NFT holders. If more than 60 days remain in the Portfolio Council epoch, a replacement council member will be selected.

Compensation

Portfolio Council members are eligible for 1% of returns at the time of liquidation, from each funding activity undertaken while they served on the Portfolio Council.

Ex) Council buys 10,000 ABC tokens for 50 ETH, 2 years later the next Portfolio Council decides It’s time to liquidate all ABC tokens for 1,050 ETH. The net earned is 1,000 ETH therefore 10 ETH is distributed to each of the Council members who entered the position.

Confidentiality

As most agreements are under NDA, conversations amongst council members must be kept confidential and posted in a private text channel. Failure to adhere to the confidentiality of their position will result in immediate termination of their title as well as stripping them of their pending commission.

Commitment and Removal

Council members must be active throughout the entire duration of the epoch as well as attend weekly council meetings. If a council member is unable to complete their 6 month epoch or decides to leave the Porfolio Council for whatever reason, a vote will take place amongst all the Ethlizards holders, as well as a follow-up election to decide on a replacement council member. (Unless they have been removed from Council by the DAO via vote or by breaking confidentiality agreements, in which case their earned revenue will be returned to the Vault).

Resources

For more information about DAO structures and governance, voting, elections and LIPs affecting processes, review the following:

• LIP-4: LIP-4 Establish DAO Guidelines and Procedures ⁠https://discord.com/channels/897797305883820032/944873122216149003/961161583696965662
• LIP- 14: Voting Improvements - Shielded Voting ⁠https://discord.com/channels/897797305883820032/944873122216149003/1064531355687473263
• LIP-16: White Paper Approval ⁠https://discord.com/channels/897797305883820032/944873122216149003/1100771093368819825
• White Paper: https://ethlizards.gitbook.io/ethlizards-white-paper/white-paper/structure