LIP-PRELIM Replacement of Council Member

Title: LIP-PRELIM Replacement of Council Member Author: Lu Date Created: January 2, 2023

This proposal is to elect a member for the 5th seat for Ethlizards Investment Council to replace the temporary member who has been filling in the vacant seat.

ABSTRACT LIP-11 installed Kmao as a temporary council member until governance changes occurred. However these governance works will take longer than expected as the scope has increased. The team believes it is in the best interest of the DAO to return the Investment Council responsibilities to the DAO and hold an election for the 5th investment council seat. This document proposes to pivot the solution from LIP-11 to now democratically elect a new council member to serve as 5th seat for the remainder of the current epoch.

MAIN CHANGES Kmao, who was serving as a temporary replacement for a former council member, will pass those duties forward so that he may focus on other critical works for the DAO. An investment council election will be held and one new Investment Council member will be elected by DAO members. This elected Council member’s term will be for the remainder of the current epoch.

RATIONALE The previous LIP-11 from September was intended only as a short term solution to cover the immediate needs of the DAO during governance changes. However, the intended governance changes have increased in scope and will take longer than expected to develop and implement. Kmao’s position on the Council was always meant to be a short-term solution and now he can transition these responsibilities to a DAO elected Investment Council member as intended.

The annual Ethlizards Investment Council elections in June 2023 would continue as normal and include all 5 seats.

Should we approve these measures for the Investment Council’s 5th seat?

Voting options: A. Yes B. No C. Abstain