Proposal to elect DAO representative

Proposal to engage a representative of the DAO Foundation and grant Multisig discretionary spending for foundation-related fees.

The Multi-Sig members are seeking approval from the DAO to formally engage a physical representation of the SpiritSwap Foundation, as a nominated officer of services for the DAO. As part of this proposal, the multi-sig members are seeking approval for discretionary spending in relation to any SpiritSwap Foundation-related expenses that arise from said engagement.

For context, for the DAO to exist as an entity, it requires various administrative persons to act on behalf of the DAO for any further engagement-related matters. As SpiritSwap is owned and controlled by its token holders and not controlled by a small group of people (thus SpiritSwap is operating as a “Decentralized Autonomous Organization”), the DAO (token holders) needs to select a representative to carry out physical requirements.

In the situation that the SpiritSwap DAO needs a physical signature, someone would need to sign documentation and KYC on behalf of the DAO as part of this process. Having a DAO-nominated official to carry out such tasks is a necessity for the DAO to anchor its establishment.

As with any service provided, such requests from this individual would incur a fee. The fee is dependent on how much time and effort is required from said individual, hence why the Multi-Sigs are requesting approval for discretionary spending in this respect.

Actions: Approve - Of the request to engage said nominee Do nothing

Thanks, SpiritSwap DAO Multi-Sig