GIP-107: Should the GnosisDAO form, in addition to the Gnosis Asset Holdings I Foundation, a legal conduit to continue to foster Gnosis´ decentralization goals?

Governance GIPs
4

Hello :wave:

Thanks very much for sharing your draft proposal. A few questions for you:

  1. Who’s the person/team behind this proposal? I see the same account posted GIP-96, which was a win-win solution to use the legal conduit to hold illiquid investments. Is there also crossover with those behind GIP-91 and GIP-94?

  2. Does this proposal have any involvement or support from other key figures in the DAO, like Gnosis LTD or karpatkey? Or otherwise, is this the first communication about these plans, or have there been other discussions before putting this proposal before the DAO?

  3. From an initial read through, it feels like this could be a solution that’s lacking a problem. Are any of below purposes particularly needed for current work/initiatives? Or is the intention simply to prepare so we have the options available, should the need arise?

The Foundation can serve a number of purposes: (i) to allow the DAO to operate at a larger scale and engage with service providers who require formal written contracts to be entered into. Examples include entering into and managing contracts for the provision of technical development, infrastructure, maintenance, research, marketing, content creators etc. (ii) legally subscribe to SaaS tools and platforms which could enhance the DAO’s operations, and facilitate the payment and management of such subscriptions for project management; (iii) handle fiat currency transactions and conversions for the DAO, including for example to pay contributors/contractors performing services for the DAO who require payments in fiat for accounting/auditing purposes, (iv) register and manage IP rights on behalf of the DAO and enter into licensing agreements / enforcement of IP rights; (v) disburse grants through more traditional grant agreements with legally enforceable rights to enhance accountability to grant recipients.

  1. What work has been done to assess the different options the DAO has for a legal structure to trade and operate through? The Caymans is known for being expensive and attracting increased scrutiny. Was the choice motivated by the use of the same setup for the existing conduit?

The last two questions are generally driving at understanding: (i) whether a Caymans Foundation is the right decision? and (ii) whether now is the right time to do this?

Once a foundation is established, the cost and difficulty of altering the DAO’s legal structure increases. It’s not a decision to rush lightly into, and so the first two questions look to understand who’s behind this work stream. Is this a case of the barber telling us we need a haircut? Or is this proposal the culmination of cross-party efforts to address a genuine need?

Many thanks in advance for all responses/information :pray:

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