LIP-16 FINAL: White Paper Approval

[Note to snapshot team - this is a duplicate of a real test just to prepare for the Ethlizard<>Fractal test]

Authors: Animositas, Lu, Kmao, Kieran, Marmalade, Haitzu, Lizident

Recognition: A structure as complex as the Ethlizards white paper is not created in isolation. Multiple community members have been involved in the drafting of the document which include: Th Or, InDAOWeTrust, Edu, Lemz, Seagolem, and Missionpoole among many other contributors, advisors and community members that participated with critical insight, questions and feedback. Thanks to every one of you that contributed in some way.

Date Created: 26th April, 2023

ABSTRACT This document proposes to ratify the Ethlizards White Paper as official documentation and project direction by way of DAO vote. If approved, the team (Lizard Labs) would commit to adhere to the white paper vision and execute the approved items on behalf of the DAO.

MAIN CHANGES Expanding the existing DAO

Lizard DAO becomes the top level of the organization. Three Sub-DAOs are created. Community, Partnership and Portfolio Sub-DAOs that each have their own specific governance processes. Current investment DAO structure rebranded to Portfolio Sub-DAO. Portfolio Sub-DAO Council epochs changed from 12 months to 6 months. Lizard Labs established as an incorporated entity with team expansion when appropriately supported by capital raises from Lizard DAO. Alongside governance and DAO rollouts, there would be future governance proposals to ratify changes and updates to these structures. NOTE: There is no immediate change to governance processes. Existing DAO governance with Genesis V1 and V2 Ethlizards will remain as the community governance voting standard until such time that the Elemental Lizards collection is launched and Community Sub-DAO is rolled out. Following that, other governance changes will roll out in phases.

Launch New Products and Services

Battle in the Beyond - Exclusive Illuvium partnership co-development to gamify the opening of Illuvitar Packs. Elemental Lizard NFT Collection - Provides access and bonuses in the Ethlizards gaming ecosystem. Champion Lizards (V3) Collection - Very limited number are rewarded to annual Battle in the Beyond winners, world-first achievers of Lizard's Legacy Global milestones, and Reptile Rush Season-ending Tournament champions; same utility as Genesis V1. The Lizard Shop - A comprehensive hub for sales and activations, merch and more. Accessible via the Ethlizards website and mobile clients. Lizard’s Legacy - An interoperable meta-game designed to provide maximum exposure to our brand through a series of partner competitions. Web3 Gaming Alliance - Our goal is to attract new gamers and development teams entering the industry, providing them with a one-stop-shop for all their needs within the Alliance. Project Herpetarium (Project H) is a collaborative network of DAOs and Web3 communities, that aims to decentralize early-stage funding opportunities for promising Web3 games in the industry. Other products in the white paper beyond those specified above, will be addressed in later governance proposals. Finances & Tokenomics

LizCoin Token Launch Initial funding of Lizard DAO will be raised through Pre-Seed and Seed Funding rounds based on issuance of LizCoin ($LIZ). Launch of token with the following utility: Participation rewards through active staking with yield and revenue distribution Sub-DAO governance voting Ecosystem purchases Alliance Partner token and project utility Pre-seed sale with allocation available to holders via decentralized Aelin Pool Seed sale with allocation available to holders Public sale at time of token generation event. RATIONALE The current iteration of the DAO is doing well, but has severe limitations to expand beyond it’s current scope to support its core pillars and adequately capitalize on it’s unique positioning and status in the industry.

Focus on the Ethlizards Core Pillars Portfolio activities, unique partnership positioning and relationships, as well as our collaborative community are core pillars of the DAO. We used these pillars to inform and develop the foundation for the DAO’s proposal for expansion through the White Paper and subsequently with Portfolio, Partnership and Community Sub-DAOs, each dedicated to support one pillar. The solutions are designed to drive further into our core competencies and areas of alignment as a DAO. We aim to improve operations across the board, increase revenue, offer high-quality products and services, as well as drive value into the ecosystem and holders.

Governance Improvements & DAO Structures

The current governance system is basic and needs to be updated and expanded. The structures proposed in the white paper:

Utilize industry standards and align with regulatory guidelines Further decentralize the DAO and sub-DAOs Improve procedures and mechanisms that align the DAO’s various operations and practices