[SQR-003]: Adopting Team Finance Solution for Token Vesting and Distribution

Introduction to Magic Square DAO

Magic Square is a comprehensive Web3 ecosystem that empowers projects and users to connect and thrive through its innovative Web3 App Store and Launchpad. The $SQR token is an integral part of this ecosystem, powering various functionalities and providing utility for both projects and users. This DAO enables the community to actively participate in decisions impacting the platform and the $SQR token’s future. Voting power is calculated based on your staked and held $SQR; refer to the Magic Square DAO Documentation for more details. Join the conversation around this proposal and other key topics in our Discord Community.

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Proposal Overview / TL;DR

This proposal seeks DAO approval to adopt Team Finance as the official solution for managing token vesting and distribution. Team Finance provides a secure, automated, and transparent way to handle vesting schedules for project tokens, ensuring the process is trustless and verifiable by the community.

By using Team Finance, Magic Square can streamline token allocation vesting and distribution, while ensuring full accountability. You can learn more about the Team Finance platform here.

For more information about the $SQR token vesting schedule, refer to the official Magic Square Tokenomics documentation.

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Reason for Action

1. Transparency and Trust

   • Team Finance enables full transparency with a clear on-chain record of all token vesting schedules.
   • Vesting data will be verifiable, improving trust among stakeholders and the community.

2. Automated and Secure Vesting

   • The platform automates the vesting process, reducing manual errors and ensuring timely token releases.
   • A security-first design ensures tokens are safe and accessible only as per the defined schedule.

3. Streamlined Token Management

   • Simplifies management of token allocations.
   • Provides an efficient and scalable way to distribute tokens across stakeholders.

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Detailed Plan

1. Adoption of Team Finance Platform

   • Magic Square will implement Team Finance as the primary solution for token vesting and distribution.
   • Vesting schedules will be set and publicly available through Team Finance's on-chain tools.

2. Security and Transparency

   • All vesting schedules will be set up using smart contracts deployed by the Team Finance system.
   • Token holders will be able to review all vesting information on-chain, ensuring full transparency.

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Voting Options

Members may vote between the following options (or Abstain):

1. For: Approve the use of Team Finance for token vesting and distribution.
2. Against: Do not use Team Finance for token vesting and distribution.
3. Abstain: No opinion on the proposal.

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How Will This Affect Me as a SQR Holder and User?

Adopting Team Finance for vesting and distribution will not impact your existing $SQR holdings. However, it will:

• Improve transparency and trust for token management.
• Ensure secure and automated handling of token allocations.
• Set a new standard for token accountability in the Magic Square ecosystem.

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Summary and CTA to Vote

This proposal presents an opportunity to implement a secure, automated, and transparent solution for token vesting and distribution using Team Finance. By streamlining token management and enhancing trust, we can further strengthen the integrity of the Magic Square ecosystem.

Review the details of this proposal and cast your vote to help shape the future of token management in Magic Square.

For further details, refer to the official Magic Square Tokenomics documentation.