ProposalsProposal 928
ProposalsProposal 928
TL;DR: Appoint Bixbite as a DUNA Admin Reserve. This proposal lays out relevant legal guidance, admin responsibilities, and related information for the upcoming DUNA admin term.
The Compliance Administrators’ duties, responsibilities and authorization to act on behalf of the DAO are enumerated in the Bylaws set forth in Proposal 727. This proposal contains certain modifications of those duties, responsibilities, and authorization to act on behalf of the DAO that are effective only as to my initial term as a Compliance Administrator. (If another Compliance Administrator is elected, her duties, responsibilities and authorization to act on behalf of the DAO will be determined by the Bylaws, or a DAO proposal that modifies them.) These modifications are in accordance with Section 2.2 of the Bylaws, which states that the DAO may authorize a Compliance Administrator to exercise rights, powers, and privileges set forth in an approved DAO proposal.
About Bixbite: Admin Reserve Qualifications (will disclose entities and references upon request):
Proliferation Impact: While these are items not related to the duties of the position, I think it’s important to show the context of how deeply integrated I am into the Nouns Ecosystem. I have been a loyal member of the Nouniverse for 3.5 years, here's a list of my Proliferation impact from the beginning:
As you can see from my voting record, I am rather 50/50 on proposals. I take time to research proposals for accuracy and effectiveness. I will make it my commitment to communicate with full transparency any decision I may have to make.
Modifications I believe this role should be introduced to our lawyers, consultants and accountants, attend a weekly sync call with the Duna Admin to stay on top of progress and possibly a monthly sync with accountants as needed. This role can also be forward facing and help field questions from the community for the Admin, and also help to build resources that the community may need to help facilitate proliferation such as working with the Attorneys to create boilerplate contracts DAO members may use for proposals.
Compensation Breakdown Duna Compliance Admin $29,999 year
DUNA Context and Admin Info Nouns DAO has completed its transition from a Cayman Foundation structure to a Wyoming DUNA, as authorized in Proposal 662. Under the Wyoming DUNA Act:
"Administrator" means a person authorized by the members of a decentralized unincorporated nonprofit association to fulfill administrative or operational tasks at the direction of the membership (Wyoming DUNA Act, 17-32-102. "Definitions(a)(i)"). Additionally, Section 17-32-123. "Selection of administrators; rights and duties of administrators" provides that an administrator will have no authority to act on behalf of the DAO absent specific authorization from its membership.
The DAO now operates as a legally recognized nonprofit association within the United States. This requires ongoing compliance with:
The Compliance Administrator structure exists to ensure that the DAO can confidently and continuously meet these obligations.
Administrator Workload and Day-to-Day Responsibilities Compliance Administrators review proposals, ensure alignment with the DAO Bylaws and U.S. law, oversee KYC onboarding, manage offchain assets, and coordinate with accountants, tax and legal advisors, and other vendors. These responsibilities require continuous monitoring, communication, and coordination. A high-level overview of the workload is below.
Proposal and Legal Oversight
Grant and Treasury Compliance
KYC and Contributor Onboarding
Operations and Administration
Community Transparency
The above work enables smooth operations, reduces legal and tax exposure, and ensures the DAO remains transparent and accountable to its contributors.
Administrator Duties
The Administrator shall fulfill certain administrative or operational tasks required by the DAO by exercising only the powers, rights, and privileges as specifically enumerated via proposals passed by Nouns DAO, including this proposal and the Bylaws set forth in Proposal 727. The Reserve Administrator acts as an alternate to the Compliance Administrator, ensuring consistent fulfillment of compliance duties and providing advisory support as needed.
Per Nouns DAO Proposal 662, Administrators "will be responsible for making sure taxes are filed, overseeing KYC of grants, and making sure vetoers are aware of potentially problematic proposals" as main priorities. In accordance with this, the Compliance Administrator's duties shall include:
Reviewing each DAO proposal for compliance with applicable laws and regulations and the DAO' governing principles. Compliance includes:
a) Tax compliance and confirming receipt of W9 or W8 tax information for grant recipients prior to disbursement of funds.
b) OFAC/Sanctions compliance by confirming there is an operational wallet check process.
c) Compliance with applicable laws and regulations (e.g. ensuring no illegal activity is included in a proposal).
The Compliance Administrator shall signal the state of compliance for each proposal using available DAO tools/clients. If the Compliance Administrator deems that a veto should be used on a proposal due to non-compliance or other existential risk to the DAO, they will inform the Veto Administrators promptly for their review. This is a recommendation only and shall not bind the Veto Administrators in any way.
Additionally, the Compliance Administrator shall have the authority to take all necessary action to ensure compliance with such applicable laws or regulations, including but not limited to notifying the DAO of regulatory or legal risks, notifying the Veto Administrator(s), or engaging outside legal counsel and advisors.
The Compliance Administrator may coordinate the contracting of a Registered Agent as allows by the Wyoming DUNA Act, 17-32-110 "Appointment of agent to receive service of process", and serve as the contact for said agent.
The Compliance Administrator shall be responsible for contracting legal and tax professionals, ensuring that taxes are filed, and serving as the DAO's contact with said professionals and related contractors.
The Compliance Administrator shall be responsible for the legal enactment of any proposals passed by the DAO such as the execution of contracts or agreements, the opening of bank accounts, or the facilitation of payments of DAO debts or liabilities.
The Compliance Administrator shall be responsible for communicating relevant DUNA information to DAO members and facilitating requests for information. Whenever possible under law, information will be made publicly available, preferably onchain.
Administrators' Participation in DAO Activities During the Administrator's term, to ensure clarity, the Administrator will refrain from voting with their own Nouns and will use a separate administrator wallet to signal whether a proposal is in compliance. They will not vote FOR or AGAINST any proposal, but will communicate on-chain in regards to compliance. They will retain all other rights as a member of the DAO.
The Compliance Administrators may however submit any proposals needed to further the authorized activities noted in this proposal or as needed.
Opening of Bank Accounts for Fiat Payment Processing In order to facilitate payments that can not be made directly in crypto via proposal, the Compliance Administrator will be authorized by this proposal to open a bank account for this purpose. The Compliance Administrator may only pay any specific DAO service providers or bills if authorized to do so via a DAO proposal.
Indemnification The DAO shall indemnify and hold harmless, to the fullest extent permitted by applicable law, the Compliance Administrator for any debt, obligation or other liability incurred in the course of activities on behalf of the DAO. Note any limitations that may be found in the Wyoming DUNA Act.
Term The intended term for this role as Compliance Administrator under this proposal is 1 year from the beginning of the compensation stream. The DAO may adjust this term via proposal to remove/replace me as Compliance Administrators. Note: Administrators are independent contractors and not employees of the DAO.
Additional Governing Documents Relevant information may also be found in the Wyoming DUNA Act, The Bylaws and any proposals passed by the DAO may alter the duties and responsibilities of the Administrator or limit the authorization of Administrator to act.
DUNA Admin Payment and Administrator Agreement The proposed compensation for Bixbite's role as Compliance Administrator and handling Proposal Tracking will be 29,999 USDC paid via stream ($2499 USDC per month). This stream will be cancellable upon the passage of a proposal to remove and/or replace the Compliance Administrator.
Administrators will be responsible for the purchase of any E&O or D&O insurance if desired. Any other expenses necessary to execute the Administrator's duties will be submitted for authorization via proposals to the DAO.
Following the successful passing of this proposal, the DUNA will enter into an Administrator Agreement with Bixbite that sets forth the proposed compensation and other terms and conditions of their role as Compliance Administrator.
Amendment to Prop 905: During Duna Admin Elections if we fail to elect both a Duna Admin and Duna Admin Reserve during the specific timeframe stated, we will move to an open election where anyone can submit a proposal for the Duna Admin Reserve position. This allows us to stay in compliance with our bylaws by having both a Duna Compliance Admin and a Reserve Admin.
TL;DR: Appoint Bixbite as a DUNA Admin Reserve. This proposal lays out relevant legal guidance, admin responsibilities, and related information for the upcoming DUNA admin term.
The Compliance Administrators’ duties, responsibilities and authorization to act on behalf of the DAO are enumerated in the Bylaws set forth in Proposal 727. This proposal contains certain modifications of those duties, responsibilities, and authorization to act on behalf of the DAO that are effective only as to my initial term as a Compliance Administrator. (If another Compliance Administrator is elected, her duties, responsibilities and authorization to act on behalf of the DAO will be determined by the Bylaws, or a DAO proposal that modifies them.) These modifications are in accordance with Section 2.2 of the Bylaws, which states that the DAO may authorize a Compliance Administrator to exercise rights, powers, and privileges set forth in an approved DAO proposal.
About Bixbite: Admin Reserve Qualifications (will disclose entities and references upon request):
Proliferation Impact: While these are items not related to the duties of the position, I think it’s important to show the context of how deeply integrated I am into the Nouns Ecosystem. I have been a loyal member of the Nouniverse for 3.5 years, here's a list of my Proliferation impact from the beginning:
As you can see from my voting record, I am rather 50/50 on proposals. I take time to research proposals for accuracy and effectiveness. I will make it my commitment to communicate with full transparency any decision I may have to make.
Modifications I believe this role should be introduced to our lawyers, consultants and accountants, attend a weekly sync call with the Duna Admin to stay on top of progress and possibly a monthly sync with accountants as needed. This role can also be forward facing and help field questions from the community for the Admin, and also help to build resources that the community may need to help facilitate proliferation such as working with the Attorneys to create boilerplate contracts DAO members may use for proposals.
Compensation Breakdown Duna Compliance Admin $29,999 year
DUNA Context and Admin Info Nouns DAO has completed its transition from a Cayman Foundation structure to a Wyoming DUNA, as authorized in Proposal 662. Under the Wyoming DUNA Act:
"Administrator" means a person authorized by the members of a decentralized unincorporated nonprofit association to fulfill administrative or operational tasks at the direction of the membership (Wyoming DUNA Act, 17-32-102. "Definitions(a)(i)"). Additionally, Section 17-32-123. "Selection of administrators; rights and duties of administrators" provides that an administrator will have no authority to act on behalf of the DAO absent specific authorization from its membership.
The DAO now operates as a legally recognized nonprofit association within the United States. This requires ongoing compliance with:
The Compliance Administrator structure exists to ensure that the DAO can confidently and continuously meet these obligations.
Administrator Workload and Day-to-Day Responsibilities Compliance Administrators review proposals, ensure alignment with the DAO Bylaws and U.S. law, oversee KYC onboarding, manage offchain assets, and coordinate with accountants, tax and legal advisors, and other vendors. These responsibilities require continuous monitoring, communication, and coordination. A high-level overview of the workload is below.
Proposal and Legal Oversight
Grant and Treasury Compliance
KYC and Contributor Onboarding
Operations and Administration
Community Transparency
The above work enables smooth operations, reduces legal and tax exposure, and ensures the DAO remains transparent and accountable to its contributors.
Administrator Duties
The Administrator shall fulfill certain administrative or operational tasks required by the DAO by exercising only the powers, rights, and privileges as specifically enumerated via proposals passed by Nouns DAO, including this proposal and the Bylaws set forth in Proposal 727. The Reserve Administrator acts as an alternate to the Compliance Administrator, ensuring consistent fulfillment of compliance duties and providing advisory support as needed.
Per Nouns DAO Proposal 662, Administrators "will be responsible for making sure taxes are filed, overseeing KYC of grants, and making sure vetoers are aware of potentially problematic proposals" as main priorities. In accordance with this, the Compliance Administrator's duties shall include:
Reviewing each DAO proposal for compliance with applicable laws and regulations and the DAO' governing principles. Compliance includes:
a) Tax compliance and confirming receipt of W9 or W8 tax information for grant recipients prior to disbursement of funds.
b) OFAC/Sanctions compliance by confirming there is an operational wallet check process.
c) Compliance with applicable laws and regulations (e.g. ensuring no illegal activity is included in a proposal).
The Compliance Administrator shall signal the state of compliance for each proposal using available DAO tools/clients. If the Compliance Administrator deems that a veto should be used on a proposal due to non-compliance or other existential risk to the DAO, they will inform the Veto Administrators promptly for their review. This is a recommendation only and shall not bind the Veto Administrators in any way.
Additionally, the Compliance Administrator shall have the authority to take all necessary action to ensure compliance with such applicable laws or regulations, including but not limited to notifying the DAO of regulatory or legal risks, notifying the Veto Administrator(s), or engaging outside legal counsel and advisors.
The Compliance Administrator may coordinate the contracting of a Registered Agent as allows by the Wyoming DUNA Act, 17-32-110 "Appointment of agent to receive service of process", and serve as the contact for said agent.
The Compliance Administrator shall be responsible for contracting legal and tax professionals, ensuring that taxes are filed, and serving as the DAO's contact with said professionals and related contractors.
The Compliance Administrator shall be responsible for the legal enactment of any proposals passed by the DAO such as the execution of contracts or agreements, the opening of bank accounts, or the facilitation of payments of DAO debts or liabilities.
The Compliance Administrator shall be responsible for communicating relevant DUNA information to DAO members and facilitating requests for information. Whenever possible under law, information will be made publicly available, preferably onchain.
Administrators' Participation in DAO Activities During the Administrator's term, to ensure clarity, the Administrator will refrain from voting with their own Nouns and will use a separate administrator wallet to signal whether a proposal is in compliance. They will not vote FOR or AGAINST any proposal, but will communicate on-chain in regards to compliance. They will retain all other rights as a member of the DAO.
The Compliance Administrators may however submit any proposals needed to further the authorized activities noted in this proposal or as needed.
Opening of Bank Accounts for Fiat Payment Processing In order to facilitate payments that can not be made directly in crypto via proposal, the Compliance Administrator will be authorized by this proposal to open a bank account for this purpose. The Compliance Administrator may only pay any specific DAO service providers or bills if authorized to do so via a DAO proposal.
Indemnification The DAO shall indemnify and hold harmless, to the fullest extent permitted by applicable law, the Compliance Administrator for any debt, obligation or other liability incurred in the course of activities on behalf of the DAO. Note any limitations that may be found in the Wyoming DUNA Act.
Term The intended term for this role as Compliance Administrator under this proposal is 1 year from the beginning of the compensation stream. The DAO may adjust this term via proposal to remove/replace me as Compliance Administrators. Note: Administrators are independent contractors and not employees of the DAO.
Additional Governing Documents Relevant information may also be found in the Wyoming DUNA Act, The Bylaws and any proposals passed by the DAO may alter the duties and responsibilities of the Administrator or limit the authorization of Administrator to act.
DUNA Admin Payment and Administrator Agreement The proposed compensation for Bixbite's role as Compliance Administrator and handling Proposal Tracking will be 29,999 USDC paid via stream ($2499 USDC per month). This stream will be cancellable upon the passage of a proposal to remove and/or replace the Compliance Administrator.
Administrators will be responsible for the purchase of any E&O or D&O insurance if desired. Any other expenses necessary to execute the Administrator's duties will be submitted for authorization via proposals to the DAO.
Following the successful passing of this proposal, the DUNA will enter into an Administrator Agreement with Bixbite that sets forth the proposed compensation and other terms and conditions of their role as Compliance Administrator.
Amendment to Prop 905: During Duna Admin Elections if we fail to elect both a Duna Admin and Duna Admin Reserve during the specific timeframe stated, we will move to an open election where anyone can submit a proposal for the Duna Admin Reserve position. This allows us to stay in compliance with our bylaws by having both a Duna Compliance Admin and a Reserve Admin.