What

Genesis of a DAO, separate from Fractional Finance - and Symbotic with Fractional Finance

Why

FF cannot be the product owner, it can only create it for a variety of reasons (ask for more)

Attendees

zeryx, rotorless, omen, gruad, viking

notes

• What’s the incentive for the first 20 people in the DAO?
• Can the Genesis team earn some kind of Token?
• The Genesis team will need to:
  • ensure that the transaction with FF goes according to plan
  • ensure that they build out the community
  • create a legal wrapper
• FDAO Risks need to be enumerated
• Launch of On-chain DAO Governance
• The closer you are to the physical world; the more likely you’ll need a legal wrapper
  • what kind of TXs change that scope?
• Function of the DAO
  • Proposers can file a proposal to the DAO to setup a crowdfund
  • DAO launches crowdfunds and threads by vote
  • Voting is Binary, it’s somewhat “algorithmic”
    • Difficulty of having disputes
    • only real risks are code vulnerabilities
• DAOs are not obviously a general partnership by default if they aren’t defined in some way
• Wyoming DAO component actually helps to define DAOs
  • We don’t even need to be a Wyoming DAO to be able to point to it
• Think about defining problems in two pieces that point to the same angle
• Taxes is the most critical to ensure we are compliant