HanDAO Closing

After careful consideration and discussion, the HanDAO Organizers have decided to dissolve HanDAO and distribute its remaining assets to its members. This decision was not made lightly, as HanDAO has been a vibrant platform supporting the art community, the DAO ecosystem, and the NFT space. We are deeply grateful for the enthusiasm, creativity, and dedication of our members, which made HanDAO a meaningful endeavor.

Reason for Shutdown Over the course of its operation, HanDAO has fostered innovation and collaboration within the art and blockchain communities. However, the ecosystems we aimed to support—particularly the NFT and broader DAO spaces—have not yielded sufficient returns to sustain ongoing operations. After evaluating the current market conditions and the long-term viability of the organization, the organizers have concluded that dissolution is the most responsible course of action. Moving forward, we intend to continue supporting these communities through private initiatives.

Asset Distribution Plan The HanDAO Organizers have prepared a comprehensive and up-to-date document (shared in the private Kakao chat room everyone is already in) detailing the organization's investments and assets. This document will be shared with all members to ensure full transparency. Below is a summary of the asset distribution plan:

Liquid Assets Total Value: Approximately $923,954.30

Distribution Process: Liquid assets will be distributed proportionally to HanDAO members based on their membership stake or contribution, as outlined in the organization's governance framework. The distribution will commence as soon as the voting process has concluded in favor of dissolution.

Timeline: The distribution of liquid assets is expected to be completed as soon as possible after a successful vote, pending any unforeseen delays on asset liquidation.

Illiquid Assets Overview: HanDAO holds certain illiquid assets, including but not limited to NFTs, digital collectibles, and other investments.

Management and Future Distribution: The organizers will continue to monitor these assets for potential liquidation opportunities. Any proceeds from future liquidations will be distributed to members in accordance with the same proportional framework used for liquid assets. Updates on the status of illiquid assets will be provided quarterly to all members.

Closing Thoughts HanDAO’s journey has been an extraordinary one, and we are immensely proud of the community we built together. While this chapter is closing, the spirit of collaboration and creativity that defined HanDAO will continue to inspire us in our future endeavors. We thank you for your trust, participation, and support.

Sincerely, The HanDAO Organizers