Public Assembly

TLDR

this proposal removes all founder’s allocation for Public Assembly. The current 15% founder’s allocation of Public Assembly’s governance token is broken down into: 10% zora.eth, 1% valcoholics.eth, 1% salief.eth, 1% losingmyego.eth, 1% javvvs.eth, and 1% 0xDC9…91B6D (Builder DAO).

Overview

As of today, Public Assembly has 63 token holders and 80 members on the forum. To reflect the most up-to-date mission and priorities for Public Assembly, this proposal aims to revisit some of the premises in which the founder’s allocation was set.

Public Assembly was launched as an onchain DAO on December 2, 2022. At the time, three of the seven founders were working on Public Assembly as Zora Labs employees. Additionally, Public Assembly’s first project Neosound (and the work leading up to launching the DAO) was funded by Zora Labs up to this point. However, Public Assembly becoming an onchain DAO meant that moving forward the DAO could be more sovereign from Zora Labs as a central source of funding. And therefore the relationship between Public Assembly and Zora Labs could be maintained via a founder’s allocation to zora.eth for funding and supporting the process leading up to the launch on December 2. To reflect a more even compensation/equity between the founding members, the Zora Labs employee founders (0xtranqui.eth, dain.eth, and junghwan.eth) were not included in the allocation.

This is a summary of the context in which the current 15% founder’s allocation was understood and set at the time of the launch. And currently, only one founder is contributing to Public Assembly as a full-time employee at Zora Labs.

Motivation

In an effort to further decentralize Public Assembly’s governance and influence from centralized groups such as the founding team and Zora Labs, removing the founder’s allocation feels like an impactful step forward.

Public Assembly is now much greater than just the founding members, and their personal investment in the success of the organization extends beyond the incentive of the founder’s allocation. Though giving up the allocation is still a big decision for everyone, the founding team is looking forward to Public Assembly’s long term priorities.

Moving Forward

By removing the founder’s allocation, we’re hoping that this is a first step for developing a more robust structure for Public Assembly. Some other ideas include: removing the veto power held by the founding team’s multisig FF89DE, and transitioning the legal structure into an unincorporated nonprofit association (or any other structure best suited for Public Assembly).

See you onchain!