Taxes and Legal Formation

Summary

Allocate 10 ETH to cover legal expenses for Overstimulated and to structure a future Daniel Allan DAO.

Abstract

Overstimulated was a major experiment in the early days of the Music NFT landscape. For those unfamiliar with the full process, you can read about it in the Overstimulated Journey.

It hit all its targets and allowed the team to explore new verticals and segments for capital formation and community building.

To keep growing, it’s important that Daniel set up the proper legal structures to ensure the longevity and ongoing sustainability of his artist project and all future releases.

This proposal looks to allocate a budget to put a legal firm on retainer, geared at ensuring that Overstimulated is properly accounted for - and setting a precedent for how future Daniel Allan projects should be structured.

Motivation

Overstimulated is the first of many projects from Daniel Allan.

We feel its extremely important to operate above board and ensure that all bases are covered for contributing to the Overstimulated DAO.

The remaining ETH in the treasury should be allocated towards covering legal expenses and setting up a foundation for the next chapter of Daniel Allan.

This should set the stage for how to treat all future royalties, secondary sales and liquidity from the Overstimulated EP that’s currently pointed at the Overstimulated treasury.

Beyond the passing of this proposal, the Danial Allan team will follow up with a new proposal around the next chapter of the DAO using the findings from the legal work performed with the proposed ETH.

Specification

Distribute 10 ETH from the Overstimulated Treasury to danielallan.eth to put Gordon Law on retainer.

The ETH allocated will be converted to USD at current market value at the passing of this proposal.

Remaining ETH and USD will go towards taxes and setting up legal structures for the next major Daniel Allan project.

Vote

Yes - Allocate 10 ETH towards legal costs No - Do not allocate ETH