The Minswap community should implement this MIP to provide a robust governance and legal structure that aligns with the decentralized ethos of the DAO, ensures compliance with a fit-for-purpose jurisdiction, protects members, and fosters ecosystem growth. This proposal is to approve the following key initiatives:
Scope of Change:
- Incorporation of Minswap DAO LLC: Establish Minswap DAO LLC as a non-profit decentralized autonomous organization limited liability company (DAO LLC) under the laws of the Republic of the Marshall Islands.
- Adoption of the Operating Agreement: Formally adopt the Minswap DAO LLC Operating Agreement to define the DAO structure, rights, and responsibilities of the DAO members.
- Appointment of Registered Agent and Funding Allocation: Designate MIDAO as the registered agent to facilitate incorporation and ongoing compliance. Allocate an initial funding amount of $9,500 as a one-time incorporation fee and an annual budget of $5,000 for maintenance and operational costs.
- Adoption of Updated Governance Process: Implement the updated Governance Process, which defines the rules and procedures by which members of the Minswap DAO, may propose, vote on, implement Minswap Improvement Proposals ("MIPs") and exercise their right to participate in the governance of Minswap DAO LLC.
- Appointment of Minswap Labs as Initial Managing Member.
- Transfer of DAO Assets to the DAO LLC: Upon formation of the Minswap DAO LLC, transfer DAO assets to the entity as initial contributions, as detailed in Exhibit B. This includes the DAO treasury and other resources.
Please read the full MIP here
