pDIP15 - December Cohort 1 Initiation Vote

Summary

This proposal contains an executive summary of the DeSciWorld preDAO’s goals and purpose, the structure of the governance process and the formation of a related operational treasury. It is to be voted on by all Supporters to ensure collective alignment with said details and provide an on-chain record of such.

This vote can be cycled innumerable times as new members of the preDAO appear.

// I. Definitions II. DeSciWorld preDAO Goals and Purpose III. DeSciWorld preDAO Roadmap IV. DeSciWorld preDAO Governance Process V. Treasury Details VI. Supporter Rights and Duties VII. Core Team Considerations VIII. Events IX. Voting X. LEGAL DISCLOSURE //

// I. Definitions

In this Agreement the following words have the following meanings:

pre-DAO: Refers to the private group of people united by a collective interest to help the formation and progression of the subsequent public DeSciWorld DAO. pre-DAO membership is signified by the possession of the $preDSW token.

$preDSW: The $preDSW token governs the DeSciWorld pre-DAO and any related treasuries through Snapshot governance.

Treasury: A collective fund, held in the Safe Multisig wallet address "eth:0x0De44d30D3E039cB247E111848E0Da69c9E73440", governed by the $preDSW token holders.

Supporter/pre-DAO member: $preDSW token holder.

Contribution: Any activity that adds value to the project.

Core Team: The group of people that are considered the main contributors to DeSciWorld since its inception, before the genesis of the pre-DAO.

// II. DeSciWorld preDAO Goals and Purpose

DeSciWorld Mission Statement "DeSciWorld is a community-driven initiative aiming to facilitate the on-boarding of people into the decentralized science (DeSci) space. By providing a suite of products and services that engage and empower would be DeScientists, we will support a second renaissance of science that is inclusive to all."

The purpose of this preDAO is to combine the knowledge, resources and networks of the Supporters to achieve the DeSciWorld mission statement above and form the eventual DeSciWorldDAO, maintaining integrity and transparency throughout, ensuring all vital preDAO decisions are confirmed on-chain via Snapshot.

// III. DeSciWorld preDAO Roadmap

1. To collectively govern the formation of the DeSciWorld DAO using $preDSW.
2. To deploy DeSciWorld DAO’s governance token $DSW.
3. To convert $preDSW holdings into $DSW

// IV. DeSciWorld preDAO Governance Process

1. Supporter develops an idea or proposal.
2. Supporter submits the proposal to the preDAO communications channel, in particular to the attention of the DeSciWorld Core Team.
3. Supporters informally deliberate the proposal.
4. Once refined, Supporter hands the proposal to an Author who can submit the proposal to DeSciWorld preDAO Snapshot page.

Note: If a Supporter wants the ability to post proposals themselves, they should submit a proposal to have their wallet addresses listed as an Author.

// V. Treasury Details

As the preDAO continues to work towards the formation of the DeSciWorld DAO, it will require funding for a variety of initiatives. These initiatives are to be voted on in batch, or singularly, by the preDAO and confirmed by Snapshot vote before funds are released. Funds released by the preDAO Treasury confer no managerial responsibility to the recipient.

The Safe multisignature wallet’s signatories may consist of the top 5 holders of $preDSW and 3 members of the Core Team. The sign threshold may be 6 signatures required from the total 8 signatories.

$preDSW holders outside of the top 5 will also be able to partake in governance of the Treasury through Snapshot governance voting.

$USDC is the preferred asset to be transferred to this wallet. All ERC-20 assets are accepted.

// VI. Core Team considerations

The DeSciWorld Core Team commands 30% of the $preDSW governance token holdings to be used according to its discretion.

This Core Team allocation is provided as an incentive for the efforts made since the inception of the DeSciWorld ecosystem, with the intention to be converted to DeSciWorld DAO membership in the same manner as the Supporters.

// VII. Supporter Rights and Duties

Supporters have expressed a preliminary agreement to join this process of forming the DeSciWorld preDAO and stated their potential area of contribution. The following steps outline this agreement for on-chain confirmation:

1. The Supporter claimed $preDSW through https://claim.desci.world/ ; $preDSW is valueless and used solely for voting on proposals through which the preDAO and any related Treasury is governed.

2. The Supporter agrees to attend a meeting at least once a month with the preDAO and agrees to actively participate in the governance of the pre-DAO, having the responsibility to vote and/or provide feedback on the proposals.

3. The non-participation of a Supporter in any of the activities described in the paragraph above for more than 60 days will be grounds for the removal of your membership, outlined below.

// VIII. Events

Removal of Membership: Membership to the pre-DAO can be revoked either voluntarily, in which an agreement between Supporter and DeSciWorld Core Team is reached, or involuntarily, in which DeSciWorld Core Team unilaterally removes Supporter’s membership. All removals will pass through governance.

(a) Voluntary removal of Membership: In the case of voluntary revocation of membership, DeSciWorld Core Team will cooperate with Supporter to return or burn their share of the $preDSW token.

(b) Involuntary removal of Membership: Unilateral revocation of membership of the pre-DAO is a decision that can be made by the DeSciWorld Core Team. DeSciWorld Core Team will notify Supporters of their coming removal at least one month prior to the removal event. This one month grace period can be used to dispute the removal of membership. After this period, if the Core Team unanimously agrees to remove Supporter, they are entitled to do so. The process of removal is the same as VIII (a), except failure of Supporter to return or burn their $preDSW allocation will result in a redeployment of $preDSW which will not include their addresses.

/ Refunds

In the event that a preDAO member has contributed funds to the Treasury, and is selected for removal from the preDAO, the following steps will be taken:

(a) Voluntary removal of Membership: In the case of voluntary revocation of membership, DeSciWorld preDAO may reimburse Supporter an amount between or equal to One Hundred Percent (100%) to Eighty Percent (80%) of any funds donated to the preDAO shared treasury. Supporter acknowledges and agrees that up to Twenty Percent (20%) of the amount is non-refundable and, accordingly, will not be subject to payment due to DeSciWorld preDAO’s operating expenses.

Any Returned payment shall be paid in $USDC. Supporter acknowledges that there may be circumstances in which DeSciWorld preDAO will not be able to refund all or a portion of the money Amount.

(b) Involuntary removal of Membership: Revokal of membership of the pre-DAO is a decision made by the DeSciWorld Core Team. Membership removal entails the following:

Full (100%) refund to the Supporter of any funds donated to a preDAO treasury held in an escrow until the Supporter has:

either: “Burned” their $preDSW tokens by sending them to 0x0000000000000000000000000000000000000000. or: Returned their pre-DAO tokens to the wallet address of DeSciWorld Core Team’s choosing.

Upon fulfilment of either of the above measures, the Supporter’s funds will be released from escrow.

(c) Full Satisfaction: The supporter agrees that returned payment by DeSciWorld preDAO to the Supporter or notice that there are not sufficient funds to pay any amount back shall be in full satisfaction of any and all obligations of DeSciWorld preDAO under this agreement to the Supporter.

// IX. Voting

If you vote “Yes” to this proposal, you agree to all points made here including Definitions, the preDAO’s mutual goals, proposed roadmap, governance process, the formation of a Treasury, Core Team $preDSW allocations, Supporter Rights and Duties and the subsequent removal process of Supporters.

If you vote “No” to this proposal, you disagree with some or all of the points made above and agree to provide explicit reasoning and feedback to the preDAO for your vote.

// X. LEGAL DISCLOSURE

The discussion above identifies some of the factors Supporters should consider when allocating any time or resources to this initiative. These factors are not intended to be exhaustive in evaluating whether DeSciWorld preDAO is a suitable initiative and no single factor is determinative. All information and documents provided are for informational purposes only. Nothing in these documents is intended to constitute investment or other professional advice or be an opinion of the appropriateness or suitability of any investment. We encourage potential Supporters to seek professional advice with respect to their personal financial circumstances and needs, before allocating any time or resources to this initiative. Further, the discussions “Supporter Rights and Duties” and “Events” in Section V and VI, respectively, are purely suggestive, not prescriptive, and do not represent a predetermined decision for the formation of DeSciWorld DAO or the release of a $DSW token. All decisions pertaining to the launch and release of the DeSciWorld DAO and any related tokens or treasuries are to be carried out by the DeSciWorld pre-DAO, as discussed above. The DeSciWorld ecosystem is community-driven. No one has managerial control over DeSciWorld nor provides essential managerial efforts that affect its success as the DeSciWorld ecosystem has a fully decentralized structure.