Summary
As Forefront takes steps toward maturity and increased community involvement, it is believed that a legal entity will be necessary for the future development of the DAO. The entity would be leveraged to enter into contracts, diversify the treasury, pay taxes, and limit liabilities for members of the DAO. We will engage legal counsel to assist us throughout this process.
Forefront contributors have already begun engaging with legal advisors to push forward this process.
Specifications
We are requesting from the DAO a budget of $100,000 USD to engage with legal counsel and related advisors to move forward with the above goal. We do not expect to make use of the entire budget, and will return any remaining funds to the DAO at the completion of the process
Quorum
Quorum: Minimum 5% of all currently circulating $FF (excluding treasury tokens) must participate for the proposal to pass. Passing Threshold: 65% or more of voting members must vote YES for the proposal to pass.
Vote
Yes — Agree to budget $100,000 USD to legal entity formation No — Refuse to budget $100,000 USD to legal entity formation
Value. Culture. Community
Off-Chain Vote
Yes — Agree to budget
82.77K FF100%
No — Disagree to budget
0 FF0%
Timeline
Oct 03, 2022Proposal created
Oct 03, 2022Proposal vote started
Oct 05, 2022Proposal vote ended
Mar 16, 2024Proposal updated