KIP-8: Kapital Foundation Directorship 1Q24

Summary

The holders of KAP Games tokens, $KAP, (the “Tokenholders”) aim to become a fully decentralized autonomous organization (“DAO”), with Tokenholders governing certain on-chain electronic features associated with the $KAP token protocol.

To maintain legal contracts, operational duties, and financial matters, a director must be appointed to the Kapital Foundation (the “Foundation”) to act in the best interest of the collective Tokenholders, as such duties and agreements cannot otherwise be adequately accomplished by a distributed body of Tokenholders.

The Foundation is ownerless, but acts as the legal personality for the DAO. To that end, the Foundation requires director(s) and supervisor(s) to execute the mission of the DAO and interact with third-parties and comply with applicable regulations. Such director(s) and supervisor(s) receive remuneration for their administrative services.

The Foundation director(s) must interface closely with the distributed Tokenholder population to distill general discussion into actionable protocol direction proposals. They are the arms that move to the voice of Tokenholders, and must act according to the benefit of the greater $KAP ecosystem.

The distributed community has proposed a nomination of Arminius as a presiding director of the Foundation. Arminius is experienced and has been an active participant in web3 gaming enterprises over the past few years, and brings a wealth of experience to the table in terms of proper operational cleanliness and diligence.

This proposal seeks to ratify the nomination of Arminius as a director of the Foundation. If ratified, Arminius will serve as director of the Foundation for the next four years unless he resigns at his own discretion by way of submitting a letter of resignation.

Abstract

This proposal entails the ratification of the nomination of Arminius as the director of the Kapital Foundation.

Rationale

The nomination of Arminius as director will solidify the $KAP protocol’s legal positioning with a functioning entity capable of interfacing with diverse counterparties, as well as coordinating taskwork amongst the community.

Implications

  • Arminius will be ratified as the director of the Kapital Foundation.

Test Cases

n/a

Discussion

https://forum.kap.gg/t/kip-8-kapital-foundation-directorship-1q24/93

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