Overview

During Legal Working Group #1 on 03Nov2021 (YouTube video, Trello Card), we agreed upon this initial draft which we are calling v1.0

Below is copy/paste from:

• https://github.com/REtokenDAO/Legal/blob/main/Operating-Agreement.md

REtoken DAO LLC | Operating Agreement

REtoken DAO LLC (a Wyoming DAO LLC)

REtoken is organized under Wyoming’s DAO LLC law.

Wyoming DAO LLC Regulations (2021 - SF0038)

• Wyoming Legislation 2021 | Bill Detail: SF0038 - Decentralized autonomous organizations (wyoleg.gov)
• Decentralized Autonomous Organization (DAO): FAQs | Frequently Asked Questions (sos.wyo.gov)
• Decentralized Autonomous Organization (DAO): Supplement (sos.wyo.gov)

[WY] 17-31-104. NOTICE OF RESTRICTIONS ON DUTIES AND TRANSFERS

The rights of members in a decentralized autonomous organization may differ materially from the rights of members in other limited liability companies. The Wyoming Decentralized Autonomous Organization Supplement, underlying smart contracts, articles of organization and operating agreement, if applicable, of a decentralized autonomous organization may define, reduce or eliminate fiduciary duties and may restrict transfer of ownership interests, withdrawal or resignation from the decentralized autonomous organization, return of capital contributions and dissolution of the decentralized autonomous organization.

Elimination of Fiduciary Responsibilities

We hereby elect to eliminate fiduciary duties for all members of REtoken DAO LLC.

[WY] 17-31-113. WITHDRAWAL OF MEMBERS

As indicated within “RIP-1 | Genesis Proposal (Season 0)”

$RETOKEN is for fun.

If any member chooses to entirely withdrawal from REtoken, they may send their entire $RETOKEN balance to safe-poly.REtokenDAO.eth (wallet address: 0x0A2830525ea50d274e24D2911Cf514523dBE10d8).

Disputes / Dispute Resolution

1. Dispute resolution must first be attempted within the DAO community prior to involving 3rd parties.
2. In the event of unresolved disputes next course of action is non-binding mediation.
3. Final course of action is individual binding arbitration.

By participating within this DAO you are waiving your right to a jury trial and any class-action lawsuits.

Treasury Management

Gnosis Safe Multi-Sig Treasury Wallet

safe.REtokenDAO.eth (Ethereum)

0x2452A5721DE3e43169c456E464774B68a3942480

safe-poly.REtokenDAO.eth

0x0A2830525ea50d274e24D2911Cf514523dBE10d8

Multi-Sig Signers (“Owners”)

• Ryan | 0x4698e888743aAc490486bD03F12685A7E6DE5EeF
• MrsYonks | 0x4C9598DFaCc61d5E26541ac27cC1cB0bc793c9Cb
• Yonks | 0xE1b1aEC67295E36803be239e55e0e3B67AF4fFB4
• Amy | 0xF777A76dA9BC45e04De48FB07164f52c64d56317
• Theresa | 0xc6cCcA85930C7A3CE7E0c559469466e7de905A1E

Policies

• Any transaction requires the confirmation of: 3 out of 5 owners
• can be updated in the future
• expect that this will be a function of our forthcoming “Board of Stewards” (BoS)

Version History

• v1.0 - finalized during REtoken Legal Working Group #1 on 03Nov2021 (YouTube video, Trello Card)
• v0.31 - changed Gnosis-Safe address for Polygon
• v0.3 - updates by @Yonks on 24Oct2021 (initial file)
• v0.2 - RIP-4 | Update REtoken DAO LLC Articles of Organization with Wyoming SOS

verbiage that will be used to amend Articles:

REtoken DAO LLC is an algorithmically managed Decentralized Autonomous Organization (DAO). The notice of restrictions on duties and transfers appear in the operating agreement. REtoken DAO LLC is governed using https://snapshot.org/#/retokendao.eth with contract address: 0x48FBAA61DE702becB9b4AC0c6aFe3F9abcaFF914 which can be viewed at https://polygonscan.com/address/0x48FBAA61DE702becB9b4AC0c6aFe3F9abcaFF914

Appendix 1: RIP-1 | Genesis Proposal (Season 0)

Vote

• Yes - I agree
• No - I disagree