MergeDAO Proposal 3

The most critical aspect of our DAO is the methodology by which we will make major economic decisions, especially concerning the ultimate sale of our Mass. To that end, Ryan Paul, a DAO member and signatory to the DAO wallet, hereby makes the following proposal and now brings it forth for a binding dao vote:

1. Any alterations to, or proposed alterations to, the holdings of the DAO or the status of authority as to the holding or dispensation thereof must be immediately publicly disseminated by the signatories of the multi signature wallet belonging to the DAO. Public dissemination means posting in mergeDAO’s discord announcements channel and making a twitter post on mergeDAO’s account.

2. Any dao member who receives an offer to buy our mass must bring a dao proposal outlining the terms of the offer and proposing to either accept it, reject it, or tender a counteroffer to the offering party, and must do so as soon as is reasonably indicated in the event the offer is presented with a time limitation and, in any event, within twenty-four (24) hours after his or her receipt thereof. The vote on any such proposal will be binding, and, accordingly, holders of the multisig wallet must implement the DAO’s vote as soon as possible, and, by no later than twelve (12) hours after the vote is complete.

3. Each member has the right to cause the DAO to vote upon a proposal to buy or sell mass. No mass shall be purchased or sold until after a valid binding vote has taken place.

4. Any ETH sent to the DAO prior to 6:30 PM EST on 12/4/2021 shall be presumed to have been transferred in exchange for MRGE tokens with the intention that the ETH contributed would be used to purchase Mass in the primary sale. Thus, any ETH sent and received by the DAO which was not used to purchase Mass in the primary sale shall be returned to the contributor or contributors thereof at any such contributor’s election. A contributor seeking such refund of ETH shall notify the wallet signature holders of such election and return the MRGE tokens obtained with his or her ETH in exchange for the ETH transferred.

5. The DAO formally acknowledges Andrew Kraus, Coby Kahmi, and Jason Bergstein for their work creating, conceptualizing, and implementing the DAO, which efforts culminated with the purchase of 3464 Mass on 12/4/2021. Their efforts, made from their dorm room at the University of Wisconsin, are now, and will always be, appreciated and considered as fundamental to the existence of the DAO. Accordingly, these three shall henceforth be known as “founders” in the DAO discord.