Proposal to allocate approximately 6% of the total VITA token supply to new strategic contributors admitted as institutional members of VitaDAO.

Summary

VitaDAO has received a good deal of high-level interest from institutions in the biopharma space in becoming VitaDAO members. The DAO could benefit from adding such strategic contributors with cutting-edge industry knowledge and deep networks. Institutional members will extend VitaDAO’s reach, advance VitaDAO’s mission, and enable additional longevity research funding, dealflow, and community awareness.

Following VDP-11 we propose allocating approximately 6% of the total VITA token supply to new strategic contributors admitted as institutional members of VitaDAO pursuant to the application process described herein.

Motivation

As VDP-11 laid out, working group members believe it would be beneficial to the mission of VitaDAO to invite strategic contributors into the DAO through an Institutional Genesis Raise In order to continue its mission of funding longevity research with institutional support.

Specification

The Institutional Genesis Raise aims to raise at least 4m USD in mission-aligned funding by auctioning ~6% of the total VITA supply (3.86M VITA) to strategic contributors selected by the VitaDAO community. Strategic contributors will purchase VITA directly from the DAO Over-The-Counter (OTC) and through a special-purpose vehicle (SPV) created pursuant to VDP-24. It is envisaged that 1.447.500 VITA will be allocated for direct OTC purchase and 2.412.500 VITA will be available for purchase via the VDP-24 SPV subject to final commitments.

An individual or entity can make a proposal to VitaDAO to become a strategic contributor with a written application to the VitaDAO community.

Ticket sizes

Two ticket sizes are available.

• 6 slots at a minimum of 250k USD
• 5 slots at a minimum of 500k USD

A further allocation of up to 500k USD is reserved for smaller tickets accepted on a case-by-case basis by the community.

A 250k slot entitles the strategic contributor to become an observer across VitaDAO’s working groups. Each 500k slot comes with regular appointments with VitaDAO’s working groups to stay informed and exclusive access to VitaDAO’s IP including a first right to purchase developed IP, or in the case of Decentralised Tech Transfer (DTT) projects, right of first refusal to participate in initial capitalization of spin-off entities.

Governance process

The operational process for strategic contributors to apply and contribute is as follows:

1. This proposal shall be voted upon and brought into force.
2. A potential strategic contributor shall register their interest by sending an e-mail to Todd White, Operations Steward ( todd@vitadao.com ).
3. Each strategic contributor will be requested to submit their proposal to the legal and operations working groups which will work with each strategic contributor to align and finalise their application.
4. Once the proposal is accepted in principle, each strategic contributor will sign an Expression of Interest (EOI) to purchase governance tokens..
5. Once all the EOI are collected, the VITA price is locked and announced.
6. Each strategic member will have its proposal shared with the community which will be introduced and published by Todd White, Steward of the Operations Working Group ( todd@vitadao.com ), in the “Ideas” section on Discourse as part of Phase 1 governance.
7. Subsequently, a proposal identifying the participants in each tranche shall be published in the “Proposals” section on Discourse as part of Phase 2 governance.
8. The governance working group shares the same proposal on Snapshot in compliance with Phase 3 governance.
9. If there is demand for a second or third tranche of the raise, steps 6-8 are repeated.

Implementation

Success metrics

The Institutional Genesis Raise is deemed successful if the treasury grows by at least 4 million USD equivalent.

Timeline

• Discuss and vote on VDP-54 in the second half of August
• Evaluate initial introductions by strategic contributors in the second half of August.
• Discuss and vote on the first tranche of the raise by September 12th.
• If there is further interest, evaluate introductions by more strategic contributors in September
• If there is interest, discuss and vote on the second tranche of the raise by the end of September

Budget

This proposal does not ask for an additional budget. The required token allocation was approved in VDP-11. The work is being done by working group members.