1IP-[101]: Request to and Authorisation of 1inch Foundation as Aqua Incubator Administrator
AI summary
This proposal asks the 1inch DAO to formally authorize the 1inch Foundation (1F) to act as the off-chain administrator for the Aqua Revenue Stream Incubator program. This means 1F would handle all legal and compliance aspects, such as signing grant agreements with teams, performing Know Your Customer/Business (KYC/KYB) checks, and enforcing contracts. The day-to-day operations, funding decisions, and fund disbursements, which come from the DAO's $436,000 allocation, will remain unchanged and managed by the current Program Steward and Grant Reviewers.
If passed, the 1inch Foundation will gain the authority to legally represent the DAO for the Aqua Incubator program, enabling the program to execute enforceable contracts and conduct necessary compliance checks. This benefits the program by formalizing its legal framework and streamlining the grant process, as individual grant agreements won't require separate DAO votes. No one loses, and the treasury's existing $436,000 allocation for the incubator remains unaffected.
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3 votes > 5% VPFull proposal
1IP-[101]: Request to and Authorisation of 1inch Foundation as Aqua Incubator Administrator
Author: Kene_Anode (Incubator Program Steward)
Related: [1IP-93] 1inch DAO Aqua Revenue Stream Incubator
Type: Governance
Status: Draft
Simple Summary
This proposal records two elements: (i) a request by Anode, as Incubator Program Steward, that the 1inch Foundation ("1F", “Foundation”) accept the role of off-chain administrator of the 1inch DAO Aqua Revenue Stream Incubator program (the "Program") established under 1IP-93; and (ii) the DAO's authorisation of the…