Title: Vote to Ratify Transition Council Authority Authors: Hiro Kennelly, trewkat Forum Post: Transition Council Authority

SUMMARY

The Transition Council, which was established to guide our community through this period of change, is seeking BANK-holder ratification of its authority to implement a broad set of changes within the DAO, as described in this Forum post.

Six Transition Council members were appointed at the June 24, 2024 Governance meeting, per a tlBANK Snapshot vote. To date, the six appointed members have proceeded with work around purpose and branding, but before we move forward with officially implementing these changes and making additional decisions that will further shape our future, we believe it’s crucial to have the broader community’s formal and documented backing.

SPECIFICATIONS

If ratified, the Transition Council will have the authority to:

• Implement its selected new name and brand identity for the DAO (Black Flag DAO) across social media accounts and web presence.
• Decide on the role of the BANK token and issuance of new token(s) within the new Black Flag DAO.
• Change the Black Flag DAO membership requirements and organizational structure.
• Decide on the tooling necessary to operationalize these changes.
• Update DAO governance processes to reflect membership and/or token ownership rights.
• Produce a replacement Constitution that reflects these changes (and any others necessary to effectuate these changes). While the replacement Constitution will be written and implemented by the Transition Council with consideration of community feedback, the text will include a process by which members can later suggest and enact revisions to the new Constitution. (After community feedback, the language of this bullet point is slightly different than the Forum post).

DISCUSSION

Any discussion related to this Snapshot vote should take place on the Forum post.

POLL

Do you support the Transition Council’s authority to implement the changes listed under Specifications? This token-weighted Snapshot vote will run for seven days and requires ≥ 66% approval (Yes vote) to pass.