From 6b486f62104e748c1bd70685425b7bc6687d747c Mon Sep 17 00:00:00 2001 From: m3taversal Date: Mon, 23 Mar 2026 15:34:51 +0000 Subject: [PATCH] =?UTF-8?q?ingestion:=20archive=20futardio=20proposal=20?= =?UTF-8?q?=E2=80=94=202026-03-05-futardio-proposal-dp-00001-mem-treasury-?= =?UTF-8?q?subcommittee-pre-formation-and-legal-b.md?= MIME-Version: 1.0 Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: 8bit --- ...-subcommittee-pre-formation-and-legal-b.md | 356 ++++++++++++++++++ 1 file changed, 356 insertions(+) create mode 100644 inbox/archive/2026-03-05-futardio-proposal-dp-00001-mem-treasury-subcommittee-pre-formation-and-legal-b.md diff --git a/inbox/archive/2026-03-05-futardio-proposal-dp-00001-mem-treasury-subcommittee-pre-formation-and-legal-b.md b/inbox/archive/2026-03-05-futardio-proposal-dp-00001-mem-treasury-subcommittee-pre-formation-and-legal-b.md new file mode 100644 index 00000000..e349033a --- /dev/null +++ b/inbox/archive/2026-03-05-futardio-proposal-dp-00001-mem-treasury-subcommittee-pre-formation-and-legal-b.md @@ -0,0 +1,356 @@ +--- +type: source +title: "Futardio: DP-00001 (MEM): Treasury Subcommittee (Pre-Formation) and Legal Budget" +author: "futard.io" +url: "https://www.metadao.fi/projects/solomon/proposal/8c9sFZ5Z46ZLnhywkWuJ5BhJK4Wrj19AN4gzQicyBKjK" +date: 2026-03-05 +domain: internet-finance +format: data +status: unprocessed +tags: [futarchy, solana, governance, solomon] +event_type: proposal +--- + +## Proposal Details +- Project: Solomon +- Proposal: DP-00001 (MEM): Treasury Subcommittee (Pre-Formation) and Legal Budget +- Status: Passed +- Created: 2026-03-05 +- URL: https://www.metadao.fi/projects/solomon/proposal/8c9sFZ5Z46ZLnhywkWuJ5BhJK4Wrj19AN4gzQicyBKjK +- Description: This proposal series sets up a staged path to deploy the DAO treasury under +explicit controls. DP-00001 does two things: it funds a capped $150k legal +and compliance budget in a segregated wallet that can only be used for legal, +regulatory, and related compliance work, and it nominates a pre-formation +treasury subcommittee for readiness work only (no authority to move treasury +funds). The follow-on proposals then define the treasury's permitted +capital policy actions and, once the Company is formed, designate the +Treasury Account and activate delegated authority with strict limits +and required reporting. + +## Content + +**Status:** Draft (proposal memorandum; to be voted) + +**Version:** 1.0.1 + +**NON-BINDING SUMMARY.** This memorandum is informational only and is +subordinate to the governing instruments and any adopted resolutions. +In the event of conflict, the normative resolution text controls. + +--- + +## TLDR + +This proposal series sets up a staged path to deploy the DAO treasury under +explicit controls. DP-00001 does two things: it funds a capped $150k legal +and compliance budget in a segregated wallet that can only be used for legal, +regulatory, and related compliance work, and it nominates a pre-formation +treasury subcommittee for readiness work only (no authority to move treasury +funds). The follow-on proposals then define the treasury's permitted +capital policy actions and, once the Company is formed, designate the +Treasury Account and activate delegated authority with strict limits +and required reporting. + +What this unlocks is the ability to begin bounded treasury deployment. +Earning yield and seeding liquidity under approved guardrails, rather than +ad hoc governance. That functional readiness is one of the primary gating +requirement to onboard partners and lift caps for broader access to Solomon. + +--- + +## Simple overview (who / what / where / why) + +**Who** + +- DAO members voting through the Governance System. +- Treasury Subcommittee Designates (bios below): + Drew, Usman, Kru, Kollan. + - Selection principles: Designates should (i) hold membership interests + in the Company, and (ii) be member-professionals with demonstrated + execution in relevant domains (e.g., DeFi builders/founders, + LPs/liquidity operators, treasury/risk, ops/security, and -- where + needed -- legal/compliance). +- Legal and compliance professionals engaged under the Company framework. + +**What** + +This proposal does **two** main things: + +1. **Names Treasury Subcommittee Designates (pre-formation only).** + They can start planning and preparation work but cannot move or + control Company or DAO treasury funds under this proposal. + +2. **Releases a capped legal and compliance budget.** + Up to $150,000 in USDC is moved from the DAO treasury into a dedicated + legal budget wallet to cover Company-facing legal and compliance work. + +**Where** + +- The vote happens in the DAO's on-chain Governance System. +- If the proposal passes, the governance system executes the on-chain transfer + of the approved legal budget from the DAO treasury to the legal budget wallet. + This proposal does not include a pre-published tx bundle; tx references will be + recorded after execution. + +**Why** + +- To put a proper treasury subcommittee structure in place, as + contemplated in the Company Agreement and Founding Charter. +- To let the Company, acting as a DAO, use its own treasury in an organized + way, under clear delegated authority and limits set by members. +- To improve security and stability of Company Treasury Accounts as much + as possible in a hostile environment (exploits, scams, and bad actors are + a real risk). +- To fund the legal and compliance work needed to finish formation, keep + filings current, and support safe governance going forward. + +--- + +## 1. Treasury Subcommittee Designates (pre-formation only) + +**What this part does** + +Names a small group of Treasury Subcommittee Designates with the skills +to help design and prepare the future treasury setup. + +- Lets them work on: + - draft treasury policies and guardrails, + - a second multisig / vault plan (signers, threshold, roles), + - allowlists, limits, and incident-response playbooks, + - checklists for service providers and infrastructure. + +**What they can see and share** + +- Some information about wallets, controls, and security will not be + published to everyone, because that would increase risk to Company assets. +- Designates must sign a strict Treasury Subcommittee confidentiality + undertaking before they see security-sensitive material (the + "Undertaking"). + +**What they cannot do under DP-00001** + +Under this proposal alone, Designates: + +- cannot move or control DAO or Company treasury funds; +- cannot act as the live Treasury Subcommittee yet; +- cannot speak for, bind, or sign on behalf of the Company just because + they are Designates. + +Any real treasury authority only attaches later, after Company formation +and only if a separate activation proposal (intended: DP-00003) is passed. + +The proposed Designates are as follows: + +### Drew + +**Co-founder [01Resolved](https://www.01resolved.com/)** -- [@drew_12011](https://x.com/drew_12011) / [@01Resolved](https://x.com/01resolved) + +A crypto native finance leader with nearly a decade in the space, +from CFO-stints, to investor and advisor roles, Drew is now building +01Resolved which provides ownership coin treasury and decision market +intelligence. + +### Usman + +**Founder [Oro](https://www.oro.finance/)** -- [@theusmansal](https://x.com/theusmansal) / [@orogoldapp](https://x.com/orogoldapp) + +Building onchain infrastructure for real-world assets -- starting with gold. +A product-first builder with a bias toward shipping. + +### Kru + +**Co-founder [Umbra Privacy](https://www.umbraprivacy.com/)** -- [@kru_tweets](https://x.com/kru_tweets) / [@UmbraPrivacy](https://x.com/UmbraPrivacy) + +Design Graduate from IAAD, Torino. Building on Solana since 2022. + +### Kollan + +**Co-Founder [MetaDAO](https://www.metadao.fi/)** -- [@metanallok](https://x.com/metanallok) / [@MetaDAOProject](https://x.com/MetaDAOProject) + +Cyborg-level relentless execution across governance, capital formation, and +early-stage funding. + +--- + +## 2. Legal and compliance budget (capped) + +This proposal also: + +- approves a capped legal and compliance budget of $150,000 (the + "Legal Budget"); and +- moves up to that amount of USDC from the DAO treasury into a dedicated + Legal Budget wallet specified in the Resolution text. + +**Key points:** +- The amount is fixed and capped by this proposal. Any further legal or + compliance budget in the future would need its own governance action. +- This proposal sets the team-sponsored proposal pass threshold to -300 bps, + the non-team proposal pass threshold to +300 bps and the minimum stake + threshold from 500k -> 1.5M to align with the other cohort DAOs. +- The $150,000 is intended to cover ongoing Company-facing legal and + compliance costs while maintaining a buffer. +- These funds are restricted to legal, regulatory, and related compliance + work and cannot be used for anything else. +- The work will be contracted across three firms: + [Morrison Cohen LLP](https://www.morrisoncohen.com/), + [NXT Law](https://www.nxt.law/), and [GVRN](https://www.gvrn.ai/). +- The purpose is to pay for legal, regulatory, and related work needed to: + complete Company formation, keep the Company compliant with its filing + and reporting duties, and support safe governance and treasury structures. + +This summary does not describe individual invoices, providers, or +specific workstreams. Those details may be handled under Company processes +and, where needed, under confidentiality or privilege. + +--- + +## 3. Why a Treasury Subcommittee is needed + +The Founding Charter creates a Company Treasury Subcommittee to manage +Company Treasury Accounts "in the ordinary course of treasury management," +within limits and policies adopted by members. + +In plain terms, a Treasury Subcommittee is needed because: + +- **Good practice.** + A DAO of this size needs a small, focused group to handle day-to-day + treasury mechanics, inside rules that everyone can see and vote on. + +- **Stronger oversight.** + The subcommittee operates only within a scope and limits that members set + by Resolution. Proposals, policies, and caps come from governance; + subcommittee members work inside those boundaries. + +- **Safer operations.** + There are real attackers in this space. A structured treasury subcommittee, + combined with multisig controls and clear procedures, lowers the chance + that a single mistake or a single compromised key can cause large losses. + +- **Delegated authority (with guardrails).** + Once activated in a later proposal, the subcommittee can carry out routine + treasury actions (within caps and policies) without needing a full DAO + vote for every small step, while still staying inside the rules members + approve. + +DP-00001 is the pre-formation step: it names the Designates and funds +the legal and compliance work so the full structure can be finished and +switched on safely later. + +--- + +## 4. SOP Registry and Operational Packs (how policies become real) + +Good policy undergoes evolution in stages: drafting, iteration, adoption. +Subcommittee members help author SOPs, the wider membership can +review and weigh in, and the DAO ratifies the final versions through +Futarchy votes via Operational Packs. + +That is what SOPs (Standard Operating Procedures) are for: + +- **SOP Registry:** the canonical place where Company-side procedural and + security policies are recorded, versioned, and (when appropriate) + ratified as governance instruments. + +- **Interim SOPs:** the Head Steward or a Subcommittee (within its existing + authority and scope) can adopt an SOP on an interim basis for immediate use. + +- **Operational Packs:** later, SOPs are batched into an Operational Pack + proposal and ratified by governance so the DAO can make them effective + instruments with clear hashes/identifiers and an effective date. + +DP-00001 does not bundle or ratify any SOPs yet. It introduces the +framework so members know what is coming, and so Designates can start +drafting policies in a controlled, auditable way. + +--- + +## 5. Three-step rollout (how this fits together) + +The treasury and legal setup is being rolled out in three stages so +members can see and vote on each part separately: + +1. **Step 1 – DP-00001 (this proposal).** + - Name Treasury Subcommittee Designates (pre-formation, no treasury + authority). + - Release the capped Legal Budget and move it to the Legal Budget wallet. + - Introduce the SOP Registry + Operational Pack model (no SOPs + adopted yet). + +2. **Step 2 – DP-00002 (planned).** + - Introduce a **SOLO buyback framework**. + +3. **Step 3 – DP-00003 (planned).** + - Confirm that the Company is formed. + - Designate the second multisig / vault as an official Company + Treasury Account under the Company Agreement. + - Move an initial tranche from the main DAO treasury into that Company + account and turn on delegated treasury authority for the live + Treasury Subcommittee within agreed limits. + +Each step will have its own proposal and vote. Where an execution bundle is +published, it is recorded alongside the proposal history. Members can review +each stage on its own merits. + +--- + +## 6. What DP-00001 does not do + +For clarity, this proposal does not: + +- turn the Designates into a live Treasury Subcommittee with authority to + move Company Treasury Accounts; +- create or designate any Company Treasury Account on its own; +- adopt, ratify, or bundle any SOPs yet (those come later via + Operational Packs); +- start SOLO buybacks or change voting thresholds (beyond the team-sponsored + proposal pass threshold update described above); +- publish detailed wallet maps, runbooks, or security procedures; or +- authorize anyone to speak for or bind the Company outside the narrow + roles set in the Company Agreement and future Resolutions. + +Those future steps can only happen through later proposals (including +DP-00002 and DP-00003) and must stay within the Company Agreement and +applicable law. + +--- + +## Links + +- Full normative resolution text (controls if there is any conflict + with this summary): + [DP-00001_MEM-full.md](https://github.com/SolomonDAOrg/dao-proposals/blob/main/proposals/DP-00001-treasury-subcommittee-preformation/DP-00001_MEM-full.md) +- Compiled Company Agreement PDF: + [Company_Agreement_SOLOMON_DAO_LLC.pdf](https://github.com/SolomonDAOrg/compiled-documents/blob/main/company-agreement/Company_Agreement_SOLOMON_DAO_LLC.pdf) +- SOP: Order of Business for Operational Packs. Part of the Company + Agreement, normative identifer SOP-00000: + [SOP: Order of Business for Operational Packs](https://github.com/SolomonDAOrg/dao-proposals/blob/main/proposals/DP-00000-founding-instrument-pack/DP-00000_SOP-Order-of-business.md) +- SOP-00001 (SOP Registry and Corporate Equivalency): + [SOP-00001: SOP Registry and Corporate Equivalency](https://github.com/SolomonDAOrg/sop-registry/blob/main/registry/interim/SOP-00001-registry-corporate-equivalency/SOP-00001_SOP-Registry-and-Corporate-Equivalency.md) +- Proposal repository (canonical history + execution artefacts): + [https://github.com/SolomonDAOrg/dao-proposals](https://github.com/SolomonDAOrg/dao-proposals) +- SOP Registry (canonical): + [https://github.com/SolomonDAOrg/sop-registry](https://github.com/SolomonDAOrg/sop-registry) + +--- + +**Disclaimer (Governance Proposal; No Professional Advice).** + +This document is a governance proposal and governance communication. +If adopted by the DAO through its governance mechanisms, it may become +binding on the DAO and persons exercising authority under the +Company Agreement to the extent provided in the Company Agreement and +applicable law. +This document does not constitute legal, tax, financial, or other +professional advice. +The author(s) are not acting as legal counsel to the DAO or any +member or user. No attorney-client relationship is created. + +You must obtain your own independent advice for your circumstances. + +## Raw Data + +- Proposal account: `8c9sFZ5Z46ZLnhywkWuJ5BhJK4Wrj19AN4gzQicyBKjK` +- Proposal number: 1 +- DAO account: `DzYtzoNvPbyFCzwZA6cSm9eDEEmxEB9f8AGkJXUXgnSA` +- Proposer: `tSTp6B6kE9o6ZaTmHm2ZwnJBBtgd3x112tapxFhmBEQ` +- Autocrat version: 0.6