Title: @tankbottoms(🎽,🍑) Update
Author: @tankbottoms(🎽,🍑)
Date: 2022-08-22
This is an update regarding work I have committed to doing, what I am currently doing, and background on other activities I am involved in.
Movement DAO is currently on-hold in order to focus on building a minimum feature set. The purpose of Movement has been clarified: to facilitate non-profit entities. The development group with which I work has formalized DAOLABS, a for-profit development company building on-chain tools for either non-profit or for-profit activities. DAOLABS is building a core ‘treasury’ application, which is powered by the Juicebox Protocol. Its other applications include NFT tooling, accounting, and crypto on- and off-ramps. The revenue model is not finalized; however, access to the application will likely be predicated on holding a JB project NFT, or being involved with Juicebox-related governance. The Juicebox Protocol, as well as its brand and community, is and will continue to be an important part of our tooling.
While no funds were provided to me, I did champion this activity, and as such, am responsible for an update. The DAO paid the first $20,000 to the firm. I requested the second $20,000 be retained by the DAO. The legal documents procured for the Legal Tool site are well valued beyond $20,000. I personally paid the firm out of pocket for these documents.
The law firm delivered a draft opinion regarding the Banny character and its proposed uses: See Opinion Letter Regarding Use of Banny.
The law firm also delivered a draft privacy policy, which was predominantly legal boilerplate and was not particularly useful for Juicebox, due to the fact that the Juicebox Protocol previously stored no personal information, and after adding Fathom analytics, anonymizes all personal information. The privacy policy from Fathom was and is sufficient.
The core activity was to research, create, and distribute an opinion letter regarding the JB mechanics. A Draft Opinion Letter Regarding Securities was created; however, the Juicebox Protocol mechanics are complex, and without an internal cryptocurrency expert (the Law firm’s usual advisor was unavailable), the draft did not correctly articulate Juicebox mechanics and how they relate to securities. Moreover, I underestimated the amount of time which would be required for an individual to provide technical information, to re-articulate the mechanics, and to provide edits/feedback on the draft. In the end, I intended for JB to be provided with actionable “do”s and “don’t”s instead of the usual “this is what the law says and doesn’t say, and where it doesn’t say it, do nothing”. As a result of the senior legal time spent researching and articulating the dimensions of securities infrastructure, I decided that surveying existing DAO-securities-cryptocurrency approaches and providing a succinct solution would be productive.
The following activities were promised to be orchestrated or developed by me on July 15, 2022:
1. Continued design and UX work regarding additional features for the Juicebox application.
Natasha Pankina has continued to design JB-related application features within Figma. Many aspects of additional on-chain utility and governance features for DAOs have been explored. A full-parity Juicebox front-end application has been implemented in Svelte, as well as a streamlined Juicebox project page.
Additionally, an Accounting tool has been created.
Svelte is compiled, smaller, and faster than ever (with the newly released SvelteKit). Apple uses Svelte for their Apple music beta website.
2. Continued development of NFT tooling both UX and Cloud Functions.