Open Call for SPS Foundation Board Members
Intro
These are exciting times for the Splinterlands community and the SPS DAO! After the previous proposals to establish an SPS Foundation and a legal fund with which to do so were passed by the DAO, @davemccoy and @Clayboyn met with and engaged the law firm Bull Blockchain Law LLP to help find a clear path forward for the SPS DAO to create its own legal entity.
After exploring multiple jurisdictions and talking to the law firm we engaged, who is familiar with not only Splinterlands, but is also knowledgeable about the blockchain industry; we believe we've found the best option for the SPS DAO. We're now ready to move forward with the next steps to establish a Panamanian Private Interest Foundation, which offers protections for both the DAO and the foundation's board members while operating in a jurisdiction that is favorable for blockchain related projects and has beneficial tax regulations that offer further protections for the foundation.
Call for Applicants
Now that we've got the basics worked out, it's time to get the community involved and determine who will represent us! There's a few things to understand before moving forward:
- Anyone that wishes to apply will be required to KYC with a law firm and pass a background check to set up the Foundation.
- This position may also require representatives to KYC with potential partners in the future. For example market makers, exchanges or payment processors amongst others.
- The SPS Foundation will be created with one Chair and two additional board members.
- The Chair and the other 2 board members will be responsible for implementing the duties necessary to implement the "will of the SPS DAO". While there is a Treasurer Committee to carry out financial duties, this group of 3 will be primarily responsible for signing contracts, or other such duties as required to fulfill the DAO proposals.
- These positions, Chair and Board Member, do not convey or imply any level of ownership over the SPS DAO.
Starting this Friday September 20th at 8:00am UTC, parties interested in becoming board members of the new SPS Foundation may submit an application by creating a post on the HIVE blockchain explaining why they would make a great representative for the SPS DAO and must use 'spsfoundation' as the primary tag.
Applicants that are also interested in being the Foundation's Chair should specify they wish to do so in their application. There can be only one Chair, so the individual with the most stake-weighted support that is interested in the position will be offered it first.
Election
After the open application process has run for a period of 7 days, anyone staking SPS will be able to vote on representatives of their choice at this link:
https://peakmonsters.com/foundation
(Huge thanks to the @peakmonsters team for getting this page built for us so quickly!)
The voting period will last for 7 days and all SPS Stakers will be able to vote on 4 candidates. The 3 candidates with the highest level of support after the voting period has concluded will be given the option to move forward with creating the SPS Foundation on behalf of the SPS DAO.
Please note that we'll also have 3 additional slots open for backup candidates. These backup candidates may be called upon if any of the primary candidates are deemed ineligible for a position on the board during the vetting process by the law firm. Also, an SPS proposal to remove or replace the Chair or a Board Member will only require a majority vote of the SPS Stakeholders to pass.
Conclusion
We look forward to seeing which community members are interested in representing the SPS DAO! This is the next step to seeing our DAO become more self-sufficient and empowering our community to establish bigger and better partnerships with other projects in the blockchain space. Thanks for being a part of the SPS DAO!
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STOPPanama ehhh why not El Salvador, as your country,
thiswill be the best offerts here, and the fiscal incentives are better than Panama i guess.
Remember we are in the BTC land.
By the way i would like to participe but as a supplent members.
The dao needs a foundation or it would have no way to interact with the world...
Shouldn't the point of a DAO be that there are no figureheads so there's no way to come after it? It feels like we are just centralizing this thing again?
You are absolutely right, this is a degree of centralisation, but the current legal landscape makes it necessary to have a foundation.
The Panama option presents solid benefits to the dao in yerms of legal standing, anonymity and taxation.
The problem is the political landscape force us to do things their way. We cannot do anything against guns and prisons. This is a compromise we have to make. Ideally we would be able to change the entire political landscape to build a better world. Unfortunately that is going to be a very difficult battle.
Hi, @bitcoinflood,
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All for this, but are we planning on specifically excluding treasurers to avoid excessive centralisation of power?
it's a valid question, and I think people might be able to present valid arguments either way.
Argument for allowing treasurers on the board is that they are highly aligned to the foundation's purpose. However, like you say, there is risk of abuse of power and a potential to lack a diversity of opinion.
On the matter of centralization of power:
there remains to be seen how much power either role will have to act. Treasurers are stated to only act in accordance with whitepaper or DAO-authorized transactions.
If the board members are known and KYC'd, there might be some future scenario where a board member is pressured (either legally, or not) to pursue some action without authorization from the DAO. If none of the board members have wallet keys, it seems that might reduce that particular sort of risk.
all valid concerns
Invalid concerns.
to you, sure, but clearly not to others, so more clarity is clearly needed 😀
Neither board nor the treasurer are positions of power. They are positions of liability. Rather big ones.
Nevertheless, the point should be discussed, and here we are doing it!
Well, it's an interesting discussion, but I'm pretty sure there is no liability without power?
Legally speaking, a Director's power is clear - they have full authority to bind the organization. (if their signature didn't matter, we wouldn't need them...)
Meanwhile, a Treasurer has the power and liability associated with holding wallet keys for a warchest.
No doubt the DAO will work to create operating principles to attempt to limit excessive power for both positions, and that is good.
We've already got a good start, with the multi-sig process for Treasurers.
But the unfortunate reality is that any operating risk mitigations become less effective when power is centralized, or where collusion is possible.
Hopefully we can do that effectively. It's an important discussion, and that's why we have a legal fund now :)
For the n’th time; there is NO power associated with this position
Well, the natural conclusion of your statement is "any director would do because there is no power." I respect your conviction but suggest you reflect on it further.
You certainly have more at stake here than many of us and will be a major determinant of the final appointees. I'll leave you to it. VONAK good sir.
I have reflected on it enough, as this is my idea.
I suggest you reflect on it.
Also a life advice: I know it is hard to do it in crypto space, where it seems everyone is out to get you; but,
please assume positive intent from others.
You will see that will improve your quality of life and help you become more successful in whatever that you do.
These will be important positions from a legal perspective. I look forward to seeing the candidates!
A few questions I'm thinking about...
About Board Candidates:
About Procedures and Expectations:
Anyways, just some things I'll be keeping in mind, and I think it's important for everyone that votes to think about these types of issues, because this type of role is important for protecting the legal status of the DAO, and the Board members are a critical part of that, while being very distinct from treasurers role.
I suggest to check this one out guys www.minepi.com/zdigital huge airdrops, going live in early 2025.