Season 0 Proposal

This proposal is in service of the goals set out in our Season 0 plan. To date, our onboarding system has accepted over 500 community members, more than 100 artworks have been acquired for the the Refraction Collection Vault, and upwards of 80 founding and collection artists have been engaged for Refraction Festival 02. Within Refraction, a DAO-to-DAO network has developed, the Partnerships and Sponsorship team has launched, Refraction Radio and Editorial teams have formed into a new media entity, and there has been an ongoing expansion of community-led guilds and initiatives. Refraction’s inaugural NFT will soon drop in collaboration with our founding artists. We have partnered with 15 cultural organizations across the globe and in the open metaverse, and we have created our own decentralized Curatorial Framework. Refraction 02 Festival is going live IRL over the 2022 Spring Equinox and will culminate in the metaverse and IRL during Summer Solstice, aiming to connect hundreds of thousands of fans worldwide. We believe that the above effort, emergence, and activity clearly demonstrate what an artist-run DAO can do within the contextual framework of web3.

TREASURY DIVERSIFICATION During Season 0 RefractionDAO underwent a successful $1mm USD Treasury Diversification raise at a valuation of $20mm USD. These funds have been earmarked to further the community, the festival, the emerging guilds, and to compensate our community and artists, while protecting the value of the community-controlled $REFRACT token.

RESOURCE ALLOCATION We are now able to utilize DAO resources to compensate contributing members in a variety of new capacities. This proposal attempts to define the correct level of governance for handling these actions to maximize value for the DAO while ensuring we evolve as an open, decentralized community. It also proposes that there will be emergence within Season 0, and to address this accordingly through a trusted framework.

The core team has worked with the main guilds across Curatorial, Founding Artists, Community, Metaverse, Editorial, Radio, Health and Wellness, Creative Technology, Partnerships, Communications, DAO-to-DAO, and beyond to create not only the teams as defined in the Clarity document but further positions as they emerge.

COMPENSATION Compensation will be distributed using Utopia, ensuring regular consistent payments. In some cases, compensation will need to be paid in FIAT, where we will use an arm’s length holding company that will be, in turn, reimbursed. Compensation will be in USDC, $REFACT and/or FIAT.

BUDGET RefractionDAO will allocate a Season 0 budget of $250,000 USDC toward the festival, artists, team members, and collection; partnerships with spaces worldwide; repayment of costs; and further initiatives that emerge from the DAO. Usage of this allocation will be reported to the community through a monthly budget report.

REVENUE RefractionDAO will aim for a net positive Season 0 budget with revenue generated through festival ticketing; inaugural and subsequent NFT drops; an NFT platform launch; sponsorship; and partnership deals. It is our goal to use this funding to continue to build the community, support projects with partner DAOs, back artist initiatives, and enable emerging opportunities.

TOKEN ALLOCATIONS A key goal for executing a Treasury Diversification was to keep tokens within RefractionDAO to support the community, and strategically distribute externally. Refraction will continue to allocate tokens to founding artists and team members, as well as DAO members based on their roles and work within the community.

INITIATIVE RECAP AND OVERALL USAGES

Refraction Festival - Successfully realize Refraction Festival 02 worldwide and in the open metaverse

Residencies Program - Cultivate residencies, mentorships, and new works programs

NFT Creation and Production - Create and produce visual + music NFTs and other related projects across the spectrum of the digital arts and beyond

Collection, Exhibition Curation, and Vault - Grow the Refraction Vault to 1000 works with a value of $2mm+

Presentation Conditions - Launch a program focused on archiving, presentation formats, and conditions for the works in our vault and our partner DAOs as well as an artist-run platform

Refraction Remixed - Curate music and visual mixes from some of the best artists and creators in the world, accompanied by editorial

Editorial Platform - Create content in and around the festival in the form of written and audio pieces, photo essays, videos and other experimental formats.

Drops and Community Support - Launch artist-run NFT drops to benefit causes reflecting Refraction’s mission and mandate

Ongoing Events - Create ongoing programming with our partners and beyond worldwide

Worldwide Partnership Spaces - Develop a partnership group for acquiring spaces worldwide including DAO cooperatives, presentation spaces, and independent clubs

DAO-to-DAO Initiatives - Build partnerships with like-minded DAOs in the cultural, creative, and events world while fostering sub DAO’s relevant to Refraction's larger purpose.

Land Acquisition - Purchase and/or Partnership of the first Space / Land IRL and in the Metaverse

Founding Artists - Increase the roster to 200+

Code of Conduct and Governance - Develop a finalized Code of Conduct and Ethics for Refraction DAO and ratify its Governance structure