Electing a DAO Council

In the short time The LONDON DAO has had to evolve, it is becoming increasingly clear that the DAO, like other projects including Thales and the Bankless DAO, would benefit from electing a community council in order to accelerate the development of ongoing projects, future projects, sustainability and direction.

The council would be lead by POB studios and initially comprise of community representatives who have shown dedication to furthering the best interests of the DAO.

The list of discord members we nominate to become members of the council are as follows:

@dave4506 @KOFE @mr-ash @Spacefe @THX-IOI @eskalexia.eth @jesus.eth @ApeFather.eth

Through continued use of the snapshot voting system, council members may be added or removed from the council in the future.

The responsibilities of DAO council will include:

• Driving ongoing and future projects.
• Managing DAO treasury funds through use of Gnosis Safe multisig.
• Representing the communities interests at large.
• Making decisions on behalf of the community which are too cumbersome to go through a voting process.

Gnosis Safe will be used to secure the DAO treasury's assets through the use of a multisig that will require 3 council members to approve any transactions on the DAO treasury wallet (0x5766ab511a204c34661e85af5ba498e2e715a420), including ETH, ERC-20s and any NFTs contained within. Council members will be required to take the correct measures to keep their private keys safe, this includes protecting it with hardware, equivalent or better security. The treasury funds will continue to be governed by the DAO.

Establish a uniform proposal/grants system

A grants program will create a system that will provide a pathway for ideas to be realized and maintain sustainability of the DAO. We believe it would be beneficial to both the POB ecosystem and the crypto community as a whole to maintain a portion of the treasury's funds to:

• Compensate ongoing work completed within and for the DAO and POB Ecosystem - For example ongoing management, recurring tasks, development efforts and compensating people who put the time and effort to create and submit proposals requested by the council.
• Provide grants to creators, ideas, and delivers who can further the experimental nature of the LONDON project and POB ethos who we believe can help further the space.

Establish a bounties program

In harmony with the above proposal/grants system and in order further the rapid development of the ecosystem, a bounties program will be set up that will allow council members to specify tasks required for the completion of DAO projects using a proportion of treasury funds to pay actors to complete them. This will allow DAO members to conceive of, take ownership over, and direct projects, will help newcomers or less active members to identify ways to participate in the DAO's activities, and will incentivizing the completion of such tasks by compensating contributors for their efforts.

Further inter-DAO, and ecosystem wide partnerships and interaction.

Conclusion

As the DAO has developed it is evident the processes would benefit from a council representation to sustain ongoing development of the DAO and drive the direction in the nature that the experiment was derived from.