[Secondary Proposal 28] Operations Team Proposal, May-July 2022 (Cycle 7)

Official Proposals
#1

API3 DAO Operations Team Proposal

Team: Operations

Operations cycle: #7

Period: 1 May 2022 – 31 July 2022 (3 months)

Amount: $ 95,168.05

Destination: Gnosis Safe (Multi-sig Wallet)

address 0x00128492458fdB7f50ffE655153Bc91aE06e00F5

Signers:

  • Mark - 0x439A2D8c08751aD4E8130c2585c7108FD3957f0C
  • Mason - 0x98f1d35bB3A4570AeAa601aA3eB54d8fc7aB37e1
  • Emily - 0xD78C5F70cD91Da7433329552c720f7F65FA1760e
    • ⅔ signatures needed in order to make a transaction.

https://gateway.pinata.cloud/ipfs/QmUhr3ffZ1cTJ8cuqADh3MNEUu3LkLmwWm5EQ9W3MhQ5D3

https://api3.eth.link/#/governance/secondary-28

#2
University Vote - SC 28
  • Approve
  • Disapprove
  • Actively Abstaining

0 voters

#3

Hello!

I was reading the document, and saw that all API3 teams and contributors will now be employed by WorkDAO for compliance reasons with the US. Do you see this as a permanent change, or just a temporary one until more clear and friendly regulations are applied? If it’s more of a permanent change, could API3 still somehow be implicated in employment disputes?

Thanks!
Aaron

1 Like
#4

Hello! Franny from VCU Blockchain, I was just wondering the same (referring to Aaron’s question).

#5

@LikeTheJar , wanted to ping you again in case you didn’t see my earlier question! Thanks,
Aaron

#6

Hi Aaron,

So sorry for the delayed response! I will adjust my notification settings for the forum.

To answer your question, we will most likely keep this relationship with WorkDAO for as long as we believe it reduces regulatory compliance risk, but should any clear and relatively simple guidance be given from state or federal government with respect to DAOs we would likely choose to pursue that. This structure provides the best protection via compliance due to the expertise provided through WorkDAO as well as other indemnities, and insurance requirements that exist.

One other thing worth noting is that SEC and CFTC guidance are typically where we would expect to see some clarification relevant to operating as a DAO, but we don’t believe employment related issues like these will be resolved or clarified any time soon, which is a problem applicable to all companies and isn’t crypto industry specific. This is why we are choosing to take precautionary/preemptive measures in this way.

1 Like