Gitcoin

This proposal is to signal that we, as a community and DAO, would like to adopt The Gitcoin Foundation, an exempted Cayman Foundation Company, as our legal entity to take possession of and steward multiple assets from Gitcoin Holdings.

For full details, please see our governance post here: https://gov.gitcoin.co/t/proposal-the-gitcoin-foundation-a-proposal-to-represent-the-gitcoin-dao-irl-by-a-cayman-islands-foundation/9983/1

Here is the tl;dr: The community and DAO need a legal entity to own and claim many of the assets currently in possession of Gitcoin Holdings such that we can focus exclusively on growing our mission and philanthropic work.

Next steps: This vote is the official signal of our communal intent to take formal legal ownership of these assets from Gitcoin Holdings and establish the Gitcoin Foundation as the legal entity that represents us - the DAO, token holders, community members.

Assuming this vote passes, I will begin negotiations with Gitcoin Holdings to procure assets, and bring back those terms of the deal to the community to review. As part of those term negotiations, we will also review and ratify the governing bylaws for the foundation to ensure token holders have near total control of actions taken by the foundation.

An initial draft set of bylaws can be found here, which will be updated as negotiations ensue: https://docs.google.com/document/d/1zeSg6piVFNCsYuCSMlwUtiEgnMvHqNsi9oPO6zhlqdU/edit

Call to action: This vote is to signal we would like to adopt The Gitcoin Foundation and have me represent the community in these negotiations. This vote DOES NOT allow me (or anyone else) to unilaterally accept terms of the negotiation. We will have a second separate vote to ensure the details are discussed and debated.