[METIP#12] Approve Asset Contribution, Professional Services Agreement, and Token Valuation Determination

Intro:

Title: Approve Asset Contribution, Professional Services Agreement, and Token Valuation Determination

Author(s): catjam#6271 and danner.eth

Type: Social

Dependencies: n/a

Replaces/Amends: n/a

Short Summary:

This proposal formally ratifies the terms of the protocol development and relationship between MetricsDAO and Flipside that have been discussed during the past several months and represents an important next step in the decentralization process. It covers the following:

  • Asset Contribution: Flipside will transfer 770,000,000 $METRIC tokens (77% of supply) to MetricsDAO as well as process and technology rights/licenses as described in the legal agreements. (Note: 23% of supply has been previously granted to Flipside.)
  • Professional Services Agreement: Outlines the terms and conditions of services provided to Flipside by MetricsDAO.
  • Token Valuation Determination: As part of this process, Teknos Associates LLC created a valuation report for Flipside Crypto that can be used as a calculation of fair market value for tokens being granted/transferred.

In addition, we’d like to call out the following critical points:

  • This proposal needs to be approved through a majority vote in favor via Snapshot. Once approved, we will ask for a MetricsDAO signatory to sign on behalf of the Special Members approval.
  • We’d like to appoint a new MetricsDAO signatory to sign on behalf of the votes performed by the Special Members and Governing Body as Daphne Kwon (previous signatory) has exited the organization. A new signatory will be nominated by catjam in the coming week – please reach out to her if you have any interest in this role.

Motivation:

This formally ratifies key aspects of the MetricsDAO and Flipside relationship, and sets MetricsDAO up for success in the future, including further decentralization ahead of the Public Launch for METRIC.

Proposal Details:

The full proposal is unable to be added to this post due to character count limits.

The token launch agreement can be found here: MetricsDAO - METRIC Token Launch - Special Member Consent (Flipside Asset Contribution and Services Agreement) 4129-1687-4561 v.7.pdf - Google Drive

References:

MetricsDAO Incorporation & Bylaws; Valuation Report for $METRIC; Asset Contribution and License Agreement (Exhibit A); Professional Services Agreement (Exhibit B)

Voting Outcomes and Next Steps:

Yes: Approve Asset Contribution, Professional Services Agreement, and Token Valuation Determination

No: Reject Asset Contribution, Professional Services Agreement, and Token Valuation Determination

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Given the nature of this proposal, @danner.eth and I will be reaching many Governors and Contributors individually to ensure their attention to it. We will also be scheduling a community call to discuss and answer any questions!

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A quick note: this proposal also originally covered the formalization of token grants as listed here. Recent advice from legal counsel led us to remove those from this proposal, and they will be proposed separately.

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