Ragequit Refund for MaxRealEstate

Title: Ragequit Refund for MaxRealEstate

Authors: Clinamenic, MaxRealEstate

Team: N/A

Date Created: 03.21.23

Date Posted: 03.22.23

SUMMARY

MaxRealEstate (Max) is requesting a refund of his share of the remaining unallocated funds of the ETH left over from token mint, according to tokenholder percentage. He has drafted a proposal on the forum, and asked me (Clinamenic) to post a Snapshot proposal in light of the discussion we had around it. Max also specified that the voting method used for this proposal will be the default method, where one token equals one vote.

BACKGROUND

While ragequit capabilities were never codified into our governance system, multiple tokenholders expressed the opinion that it would be fair to offer a ragequit option for those who feel their voice was not heard, or for those who are dissatisfied with the direction of the DAO. One of the terms of Max’s proposal was that it go straight to Snapshot, because of doubts of the integrity of the draft proposal stage.

This proposal will set a precedent within the Lobby3 Legacy DAO, namely that tokenholders will now be able to make proposals for their own individual ragequit refunds, according to the percentage of tokens that tokenholder possesses.

MISSION & VALUES ALIGNMENT

N/A

SCOPE OF WORK

By virtue of this proposal passing, the Lobby3 legacy community approves of Max’s ragequit refund, and will expect the process set forth in NEXT STEPS to be executed.

By voting in favor of this proposal, and upon receiving his share (see FINANCIAL IMPLICATIONS) of the treasury back, Max agrees to the process set forth by this proposal (see NEXT STEPS), and gives up membership status in the Lobby3 legacy DAO, the ability to participate in any future Lobby3 activities, and acknowledges that his refund and departure from the DAO were brought about in a fair manner.

FINANCIAL IMPLICATIONS

Max owns 100 tokens, or 7% of the token supply. 7% of the remaining ETH from token mint (39 ETH) is 2.75 ETH, which is what Max will receive.

BRAND USAGE

N/A

SUCCESS METRICS OR KPIS

N/A

NEXT STEPS

Max will receive 2.75 ETH from the community fund (that is, from the 39 ETH remaining in 0x2E4859A2e7661c2d08eDb79660DbE043e8d669E3), sent to his wallet with the ENS domain MaxRealEstate.eth (0x180efb3E67f9Ac37c95E3bBA2FcA41B594Cba562). Max will then send his 100 membership tokens to the burn address (0x0000000000000000000000000000000000000000).

Upon completion of these steps, the matter of Max’s ragequit will be considered resolved.

TEAM BACKGROUND

N/A