Funds Appropriation Proposal #1 - Incorporation and ONA fees

Governance Proposals
#1

I’m requesting $1,000 from JournoDAO funds to pay for registration for:

  1. JournoDAO’s slot at the Online News Association Conference Startup Alley and Midway - $400
  2. Stripe Atlas Startup Incorporation package - $500

The remaining $100 is for sales tax or other associated fees. If less than $100, the funds will go into a new JournoDAO fiat bank account, which will be setup alongside the incorporation process.

I’m requesting that the funds from founder NFT sales be moved from the Unlock contract into the JournoDAO.eth wallet and then that $1,000 worth of ETH is sold and moved into the new JournoDAO bank account via a fiat offramp.

Thank you.

2 Likes
#2

Love it! Let’s do it.

1 Like
#3

I approve of the use of funds, but I would suggest that instead of selling, we take out a loan on the ETH via https://www.mai.finance/

That way we can continue to benefit from the appreciation of ETH.

At that ratio of collateral and amount borrowed, ETH would likely have to go below $100 in price for us to get liquidated, which (knock on wood) is extremely unlikely. And if it gets close we can repay some of the loan as needed.

So it looks like we could put forth 4 options:

  1. Approve funds. Acquire by selling ETH.
  2. Approve funds. Acquire by borrowing against ETH.
  3. Don’t approve funds.
  4. Abstain.
#4

I’m out of my depth with this stuff. I tend to play it more conservative, but I’d be interested in trying it out primarily to learn more about it.

1 Like
#5

Yeah, could be a good screencast to go over. I know I was frustrated with the lack of stuff out there showing you what leverage was and how to use it.

#6

I vote for 1 & 2, but whichever is the fastest/easiest in this instance to get the structure in place since I’m assuming the ONA stuff needs to happen fast.

#7

Following up on this. Is MAI Finance still the best way to go? We also need to add some expenses - 1 or 2 tickets to ONA (we only get one freebie) and I think it’s fair to use some DAO funds for travel to LA. There’s a few other petty expenses as well.

Does JournoDAO still have some tokens staked somewhere from Streamr funds as well?

Unless there is an objection, I suggest that the above expenses be dealt with BEFORE setting up the multi-sig, just for expediency’s sake with ONA deadlines already having past. I’ll get an itemized list of expenses as soon as we have some clarity on travel costs.

2 Likes
Pending Payments - ONA and Incorporation
#8

Where/how is this being voted on?