This proposal seeks to appoint Doug Leonard as the DAO Manager for Hifi DAO, in accordance with Section 3.2 of Hifi DAO’s Association Agreement.
Motivation
As Hifi DAO is a US entity subject to US tax law, it is necessary to appoint a DAO Manager before filing our first tax return. This appointment is crucial for maintaining compliance and ensuring the DAO can perform actions that cannot be executed on the blockchain.
Specification
Appoint Doug Leonard as DAO Manager with the following responsibilities and authority:
Legal representation of the DAO
Financial activities, including tax filings
Execution of contractual agreements on behalf of the DAO
Performance of administrative duties as required
The full scope of the DAO Manager’s authority and responsibilities can be found in Section 3.2 of Hifi DAO’s Association Agreement.
Impact
This appointment will:
Enable Hifi DAO to comply with US tax regulations
Provide a formal mechanism for off-chain actions and representation
Maintain operational continuity in the DAO’s current practices
It’s important to note that this appointment does not change how the DAO has been operating and will continue to operate. It simply provides a formal structure for compliance and off-chain activities.
Action Items
Upon successful voting on this proposal:
Doug Leonard will be officially appointed as DAO Manager
The appointment will be recorded in the DAO’s official records
Doug Leonard will be authorized to represent the DAO in legal and financial matters as specified in the Association Agreement
Additional Information
For a comprehensive understanding of the DAO Manager role, token holders are encouraged to review the full resolution.
This proposal will go live alongside HIP 9, which seeks governance approval to add a Medical Equipment Collateral Ruleset. Both proposals are expected to go live Tuesday, September 24, 2024 with voting expected to begin on Thursday, September 26, 2024.
Hifi project is improving and getting better
This is really amazing and impressive.
Hifi project is really getting a big improvement in their platforms.
I have been watching Doug’s steps for years, watching him grow this project from a simple beta-preview of the lending protocol, to a production ready environment used by experts willing to put real world asset collateral to leverage DEFI through Hifi.
Doug was also able to keep the boat afloat during bearish times and grow the team that builds and manages the project and the community.
I don’t see a better manager to be elected as the administrative apointee for the Hifi DAO. You have my full support!
I think that the appointment of a DAO Manager is a practical and necessary step for Hifi as it navigates the complexities of operating within traditional legal and financial systems. Keep it up Doug!
This appointment is really crucial, and it’s making steps towards growing the hififinance lending system i believes the ecosystem will grow more when it’s set at place
This is a good point. There could be a recurring election every two years for the appointee. Definitely to consider in a future HIP. But at least for now the DAO can already enforce any changes of appointee if needed at any time, if the community feels there should be a change if something happens.
Decentralized governance models promote transparency, accountability, and regular opportunities for community participation through using fixed terms. Other DAOs, such as Ethereum Name Service and Friends With Benefits, structure their governance processes in a similar manner to ensure effective management and community engagement.
I’m grateful for your supportive and insightful comments on Doug’s leadership and the growth of Hifi. Thank you for participating in our community discussions and initiatives; your engagement means a lot to us.