EiRs join R&DAO Labs to work on validating a potential venture.

The EiR program lasts up to 6 months, and EiRs can attempt to validate one or multiple venture opportunities to ‘graduate’ to the next stage.

During the EiR they accumulate “team points” based on the difference between their market rate and the stipend received if any, multiplied by a monthly 360* performance assessment as per this formula:

(market rate - stipend)*performance assessment multiplier = monthly team points accumulated

Notes:

• Acceptance into the EiR program requires agreement on market rate. As a guideline, we refer to Glassdoor Paris salaries for a benchmark.
• If no venture is validated during the 6 months, the program terminates and the team points are void and the IP remains within RnDAO. The EiR may apply to rejoin the EiR program.
• Either party may terminate the engagement during the EiR program:
  • If terminated during the first 6 weeks (trial period), the Team Points are void.
  • If terminated after 6 weeks (trial period), the Team Points accumulated will convert (upon incorporation of the venture) into a SAFE + TW similar to RnDAO’s with an additional buy-back clause i.e. the venture may chose to pay the EiR for the value of services rendered (valued as per the original team points formula) before execution of the SAFE or immediately upon execution (30-day deadline for notice and 60 day deadline for payment).

If a venture opportunity is validated and if both parties are happy with the relationship (graduation from EiR program), then:

• The venture is incorporated and the IP transferred into it,
• The EiR is appointed as (co)founder,
• The team points accumulated by the EiR convert into equity in the venture (following a Dynamic Equity model),
• RnDAO and the venture sign 4 contracts:
  1. SAFE (with revenue trigger) at 500k cap and 20% discount, giving RnDAO 20% control: $50k already vested for EiR program and $50k worth of MVP program over the following 6 months.
  2. Services Contract defines the provision of services (MVP program) and includes a quarterly break clause.
  3. Token Warrant: to align incentives if the venture decides to go down the token launch route. The Warrant gives the option over the pro rata portion of the insider tokens allocation (tokens given to the core team and investors).
  4. Conditional Swap Agreement: to align incentives between all the ventures and RnDAO. Triggered when the venture achieves traction (threshold for fundraising, token launch proceeds, or revenue). This agreement grants the venture $50k worth of RnDAO tokens ($10mn market cap, currently non-transferable) and an extra 10% ownership in the venture to RnDAO (i.e. an additional $50k counted in the SAFE Investment Amount).

Services provided by RnDAO Labs

EIR: