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0xe943…5927

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0xe943ca88…5927sent to0xfb4a9654…df57·#19,215,729·0x03e69e9e…f6b08b
This will be the single most momentum-driving event of 2024 for Farcaster, and takes a monumental amount of effort. Let's not make the Farcon team worry about having to play politics here.
0xe943ca88…5927sent to0xfb4a9654…df57·#18,621,946·0xd7d344a6…58e024
A proper legal wrapper is the fundamental next step towards becoming an entity that can truly move the needle for Farcaster. People need to have confidence that we can make decisions as an org; that we protect our members; and that we have ambitions of truly changing the world with decentralized social. This proposal offers a lightweight (we don’t have to change our on chain actions, or hire an admin!) but effective solution to achieve that goal.
0xe943ca88…5927sent to0xfb4a9654…df57·#18,614,600·0x7cc5be81…a815f5
Create a legal entity for Purple with MIDAO&&🛡 **Create a legal entity for Purple** 🛡 Proposal by @cojo.eth (Colin Johnson) & @thethriller (Adam Miller) **Tl;dr** This proposal aims to establish a legal wrapper for Purple, creating a robust legal structure to protect members, enable larger grants, and attract more token buyers. **Summary** Currently, Purple operates without a formal legal structure, which poses several risks and limitations. By creating a legal wrapper, we can protect our members from individual legal & tax liability, qualify for substantial institutional grants, and appeal to high net worth individuals. The proposal suggests forming a Marshall Island DAO LLC through MIDAO, which offers cost-effectiveness, flexibility, and minimal administrative burden. This structure requires no centralization of power or significant action from DAO members. **Rationale** 1. Member Protection: A legal wrapper shields members from individual legal & tax liabilities in legal matters, safeguarding personal assets. 2. Grant Eligibility: As a nonprofit public goods DAO, Purple stands to benefit significantly from institutional grants, which require a clear legal entity for fund transfer. 3. Enhancing Membership Appeal: A legal wrapper reduces risk for potential high net worth or regulatory-conscious token buyers, thereby expanding our treasury capabilities. **Proposed Entity** The choice of a Marshall Island DAO LLC aligns with our needs for cost, flexibility, and minimal administrative burden. This structure has been vetted against various other forms like 501c3s, LLCs, and is found to be most advantageous for our scenario. **Impact on Members** This change does not alter member rights or responsibilities. Voting remains on-chain, and the selection of a figurehead for organizational contact purposes does not confer any special powers or responsibilities. This proposition really just provides legal protection for members without any substantial change in day to day activities. **Precedent** Several prominent DAOs have successfully implemented legal wrappers, demonstrating the viability and necessity of this approach in today's environment. - Nouns - BuilderDAO - LexDAO - Friends with Benefits - Many more **References and Research** Detailed information and discussions with MIDAO are available for members to review on the charmverse page [https://app.charmverse.io/purple/legal-wrapper-overview-prop-37-initiative-49699958710444525](url) Positive feedback and recommendations like the recent one below from Admiral DAO support this approach: Are you glad you did it? “I would honestly not even bother considering anything else. The brain damage + fees these other structures were going to take of $100K+. This was like the MIDAO fee and a few hours of legal time.” -Mark Lurie, Founder, Admiral DAO LLC, which governs the Clipper Exchange **Timeline** 1. Vote closes 2. 1 week for KYC of 1 (or optionally more) volunteer 3. 4-6 weeks to develop the operating agreement in conjunction with the MIDAO team 4. Submission to Marshall Islands via MIDAO 5. One month review by Marshall Islands before receiving charter This proposal is a strategic step towards securing Purple's future, enhancing its operational capabilities, and safeguarding its members. It's a forward-looking initiative aligning with Purple's ethos of innovation while providing community protection. **Cost** Setup: 3 ETH (~$6K) Adam Miller, a Purple member and MIDAO founder, has offered guidance and discounted rates (usually $9,500) for this setup. There is an annual fee after the first year of between $1,500 and $5,000 per year, depending on treasury size at the time fees are due, as outlined on [https://www.midao.org/pricing](url) All these fees include all MIDAO & government fees. There are no hidden fees and no requirement to hire any local law firm or other representatives as is required in many other jurisdictions. Certified documents, future government filings, and document templates are all included in these fees.
0xe943ca88…5927sent to0xfb4a9654…df57·#18,388,462·0x2dca36c0…7b0db9
I couldn't be more excited about Purple, Season 2. The art is incredible (@0xen ftw), the vibes are growing, and the more we take action as a group, the more we're going to draw the interest of new supporters. Let's keep taking risks.
0xe943ca88…5927sent to0xfb4a9654…df57·#17,822,132·0xb733cd1d…4706e1
This is a great opportunity to refresh our artwork and help catalyze more activity and potentially increase revenue for the DAO. It's been updated with more clear wording around royalties.
0xe943ca88…5927sent to0xfb4a9654…df57·#17,814,957·0x6027b332…39951a
We Love the Art V2 - Art Upgrade Proposal&&**tl;dr** We plan to commission fresh artwork to help drive demand for Purple tokens, the primary means of revenue for the Purple treasury. This proposal selects a known Farcaster community artist, 0xen, to generate the first cycle of said artwork. **Summary** Since inception, Purple’s NFT has been represented by a static Purple square. While recognizable in its simplicity (and effective from inception until now), its lack of variability and originality likely limits demand. By commissioning a skilled artist to design new generative pieces we can breathe new life into the auctions, helping to drive demand both from existing token holders and new potential initiates. Fresh artwork also helps signal to artists on Farcaster that Purple supports their efforts. If the launch of new artwork is successful in driving demand, this proposal recommends (but does not mandate) that the DAO consider implementing new artwork cycles with public submissions moving forward. **Approach** Our primary goal is to rapidly launch fresh artwork for future NFTs - with minimal overhead burden - so that we can determine what kind of impact it may have on token sales. To that end, this proposal would take the following actions: - Immediately commission 0xen to begin work on a new generation of Purple tokens - Allow community suggestions in the Purple FC channel or via preferred channel of artist - Give final design approval exclusively to the artist **Rules & Guidelines** - Artwork should be delivered by September 1st, 2023 - Artwork must hold to the declared Purple ethos of propagating Farcaster - Artwork must maintain a recognizable portion of purple coloring - Artwork is encouraged to include some generative layers/elements, although this is not required **Rage Quit Clause** If the final artwork is not well received by the community, any member can initiate a new proposal to revert to the Purple square. **Artist Payment** -One (1) ETH up front -5% of primary sales proceeds for twelve months or for the duration of Purple using the provided artwork, whichever is sooner. To be paid out every 3 months.
0xe943ca88…5927sent to0xfb4a9654…df57·#17,794,137·0x9c0ac0c2…2e037f
We Love The Art - NFT Visual Upgrade&&**tl;dr** We plan to commission fresh artwork to help drive demand for Purple tokens, the primary means of revenue for the Purple treasury. This proposal selects a known Farcaster community artist, **0xen**, to generate the first cycle of said artwork. **Summary** Since inception, Purple’s NFT has been represented by a static Purple square. While recognizable in its simplicity (and effective from inception until now), its lack of variability and originality likely limits demand. By commissioning a skilled artist to design new generative pieces we can breathe new life into the auctions, helping to drive demand both from existing token holders and new potential initiates. Fresh artwork also helps signal to artists on Farcaster that Purple supports their efforts. If the launch of new artwork is successful in driving demand, this proposal recommends (but does not mandate) that the DAO consider implementing new artwork cycles with public submissions moving forward. **Approach** Our primary goal is to rapidly launch fresh artwork for future NFTs - with minimal overhead burden - so that we can determine what kind of impact it may have on token sales. To that end, this proposal would take the following actions: - Immediately commission 0xen to begin work on a new generation of Purple tokens - Allow community suggestions in the Purple FC channel or via preferred channel of artist - Give final design approval exclusively to the artist **Rules & Guidelines** 1. Artwork should be delivered by September 1st, 2023 2. Artwork must hold to the declared Purple ethos of propagating Farcaster 3. Artwork must maintain a recognizable portion of purple coloring 4. Artwork is encouraged to include some generative layers/elements, although this is not required **Rage Quit Clause** If the final artwork is not well received by the community, any member can initiate a new proposal to revert to the Purple square. **Artist Payment** 1. One (1) ETH up front 3. 5% of primary sales proceeds, to be paid out every three months
0xe943ca88…5927sent to0xfb4a9654…df57·#17,338,633·0x59647c5d…6bf588
✅ I do want eSports activity on Farcaster ✅ It will be an excellent display of Eth+Social , if well implemented ✅ I like this group and their ethos, from what I can see (although website is private) ❌ It's hard to tell if the team is going to perform well at the event ❌ It's even harder to tell what the killer feature is going to be of the app ❌ 5 ETH is a lot, given the above ❌ It's unclear if they can source the rest of the necessary funding - if they don't, the chance of overall success is lower. A few changes that could switch my vote: - Use 5% of the tournament proceeds to purchase Purple DAO NFTs for their players - Some confirmation that they'll have all of the funding they need to complete the app - More info on the team (website is closed)