Proposal to adopt the creation of the Indigo Foundation

Temp Check Discussion
21

Congratulations to everyone who made this possible.

4 Likes
22

Thanks!Thank you for the quick response

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23

Who actually read the documents?

  • I did
  • I didnā€™t
  • I kinda did

0 voters

8 Likes
24

This read got me so pumped! cant wait for the mainnet!

5 Likes
25

Indigo all the way :muscle: :muscle:t5:

2 Likes
26

Amazing news! Congrats!

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27

Having gone through the documents, I couldnā€™t spot whether the directors are paid a salary or not. That should be laid out pretty clearly in order for the DAO to authorize recruitment of Board or staff members.

Also, a question related to the mentioned $1.00 that was written in a bit of legalese. Does it mean that DAO members are also members of the foundation and their liability is limited to one US dollar each?

10 Likes
28

LFG! Congrats to the team! :muscle::muscle:

3 Likes
29

The deadline for discussion seems short

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30

I think itā€™s fairI think itā€™s fair

4 Likes
31

In full support, well-done guys!

3 Likes
32

time to read all of the documents and get ready for :rocket: :rocket: :rocket:

2 Likes
33

I commented in discord about this, but will also add here that we are keeping the campaign going for 5wks and each week dedicated to a new temp check. We chose this path instead of one large proposal to review as we figured it would be too much info to digest even if we gave 5wks to do so. A slow drip made more sense so we can handle specific questions about an individual Temp Check vs having fragmented inquiries.

We do not want anyone to feel as if weā€™ve not given sufficient time for review and discussion, which is also why weā€™ve gone extra lengths to provide as much detail and structured info as we can at this stage. I will also add that the team is committed to being as responsive and communicative as weā€™re able!

11 Likes
34

will there be only 2 foundation members or is it extended to individuals outside of the core team. Just curious but Im onboard liking the direction.

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35

These documents do not provide for the Directors to be paid; that will be up to the DAO. It seems common for DAOs to compensate those that are actively working on Foundation business so we expect that to be a topic of discussion post-launch.

Article 10 of the MOA does limit everyoneā€™s liability upon an dissolution of the Foundation to $1.00. But that section does not address who is a Member - that is in the AOA. Caymans law involves a structure that presumes Members, Directors and a Supervisor at the start; the only Member in these documents was initially the management company Zedra, but they resigned as the Member in another of the documents involved in formation of the Foundation (as is normal procedure). So there are no Members at present; whether other persons or entities later become Members (under the AOA procedures) is up to a vote of the DAO. DAO participants are not automatically Members and do not have any liability as a Member under these documents.

8 Likes
36

The Indigo Foundation Board will expand beginning in Q123. Itā€™s actually important that the Board have differentiation from core team persons. There will not be any additional Indigo Labs staff added to the IFB in the future.

8 Likes
37

There are 2 directors for the start, with one a local Caymans appointee and not part of the core team. It is expected that post-launch the DAO will authorize more Directors to be recruited, and will then vote on the appointment of Director candidates.

6 Likes
38

Expanding on this, itā€™s ultimately up to the DAO if they choose to elect a core team member to the IFB, though it is not the teamā€™s plan. I can foresee a possibility where a team member is elected and moved take a position with the Foundation instead of Indigo Labs.

6 Likes
39

As we tokenize everything along the way, this is a great reminder of where we will begin! Thanks team!

3 Likes
40

The beginning of an era.

3 Likes