DRC: Implement a Guernsey Purpose Trust for the dYdX Grants Program (DGP)
AI summary
This proposal suggests establishing a Guernsey Purpose Trust for the dYdX Grants Program (DGP). This trust would hold the program's assets and be managed by the current 8-person Grants Committee, with Reverie acting as the 'enforcer' to ensure the trust's purpose is fulfilled. The goal is to provide a formal legal structure for the DGP, which currently operates through a multi-signature wallet.
If passed, the DGP would gain legal clarity, potentially reducing tax burdens and offering legal protection to its members and Reverie. It would also allow for more flexible distribution of funds and engagement in off-chain activities, benefiting the grants program's operational efficiency. No direct financial loss or gain for individual token holders is immediately apparent, but the DAO as a whole benefits from reduced legal and operational risks.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
In Reference to:
- https://dydx.foundation/blog/en/legal-framework-non-us-trusts-in-daos
- https://forums.dydx.community/discussion/4049-drc-implement-a-guernsey-purpose-trust-for-the-dydx-grants-program-dgp
Summary We propose that the dYdX Grants Program (DGP) implement the Guernsey purpose trust structure (the “Purpose Trust”) contemplated in the “Legal Framework for Non-U.S. Decentralized Autonomous Organizations” (the “Framework”) post created by the dYdX Foundation.
As outlined in the Framework, the Purpose Trust would have trustees, an enforcer and assets transferred to it. We propose…