membership

Membership Access and governance

The initial number of AVATAR DAO members is 99.

DAO was launched in January 2022. The first 45 members of DAO were directed invitation system, followed by recommendation voting system, until it was full.

The initial exchange quota for each NFT T is: 50,000 USDT, with a maximum of 3 NFTs per address.

The initial closure period is 24 months, after 24 months or during the resolution of the governance meeting, relevant adjustment.

Funds provided by DAO members go into smart contract addresses that are jointly managed by DAO members.

Requirements of members

First, DAO members need to pass qualified Investor certification, sign an Anti-money Laundering (" AML ") agreement, and be KYC certified. Members are also required to submit sufficient information for verification including, but not limited to, uploading passports or national licenses.

Accredited Investors: assets more than 5 times the investment amount

Membership

The registration and verification of new members and the potential members need to provide AVATARDAO with sufficient information to evaluate whether new members meet the requirements for joining, which will be confirmed by DAO's service provider. After the confirmation, the wallet address of the new member will be added to the whitelist of the basic smart contract. The process of whitelisting the wallet address of the member will be carried out in the order of joining, and the confirmation will be completed within 3 days.

Verification document: The document you upload as proof of certification status will be kept confidential and used to verify that you meet the definition of qualified investor.

The DAO is a globally open organization that welcomes applications from like-minded partners around the world. DAO members can use digital wallets, such as MetaMask and other digital wallets.

New members need to transfer the full amount into DAO's smart contract capital pool after being approved to join (i.e. verified as qualified investors). Members should assess their risk tolerance before joining the DAO.

Approvement of membership

New members are admitted by invitation or by vote: membership in the DAO is a voluntary and approved process that reflects the collaboration and wisdom of existing members.

Onchain before submit new members to join proposal and vote, the candidate must first get the support of the existing members and accept the internal members appraisal and assessment, which consider new membership from several aspects: the DAO of distributed collaborative and contract spirit, professional knowledge, whether to belong to the qualified investors, etc., a majority vote for existing members, can become a member.

Expulsion of members

While DAO members work together to serve the community, they also work together to monitor member misconduct: Any member who finds a member harming the DAO community can propose to remove him/her from the DAO at any time (see: Exit), if the proposal approved by most of the other members of the vote, then the members will lose their share of management rights and receive dividends, DAO and settlement will change when members share some returned to its wallet address, such as the damage behavior of members of the economic loss, is the deduction of payment within the share, share outside does not undertake.

Rights of members

Each member will have the same full governance and other rights, including the right to know the identity of all other members, to receive all information about activities and to participate in management, planning, decision-making and day-to-day operations.

Members of the DAO have control over all investment efforts, and any changes are performed by the service provider.

Member responsibilities

In accordance with the organizational spirit of the DAO, no member (or former member) shall assume any obligations and responsibilities beyond the amount of contributions.

Responsibilities and obligations among members

No member of the DAO assumes any responsibility or obligation to any other member. Members will participate in investment and other activities within the DAO organization based on the principle of sincerity and reciprocity.

Member roles

The DAO's asset management and voting will take place onchain, but many decisions will be communicated using off-chain means, such as group chats, video conferencing, and face-to-face meetings. These interactions will help members provide q&A assessments of common questions and ideas before submitting formal proposals and before voting.

The culture of the DAO is that every member takes responsibility for the better development of the DAO. Every AVATARDAO member should actively participate in community activities to fully understand and help the development of the community. Therefore, all community members are considered administrative members of the DAO and will have full economic, information, and governance rights in the DAO. In DAOs, there are three main categories of members, and the members of daOs can change from time to time based on the evolution needs of daOs.

1) Members

All members are CONSIDERED to be DAO members who actively participate in the common management of members, including activities such as seeking investment opportunities, conducting transaction due diligence and conducting asset management and monitoring member behavior.

2) Service providers

Service providers are considered as DAO members who actively participate in the joint management of members, including seeking investment opportunities, screening investment opportunities, writing investment research reports, legal consulting, due diligence of investment targets, asset management, organizing offline meetings, coordinating daily work related activities, etc.

The tasks of the service provider include but are not limited to:

At each classified track, top experts in the field are invited to lead project discovery, evaluation, discussion and investment decisions

Coordination ensures that all other members are aware of the proposal Ensure participation criteria are implemented Initiate or encourage member initiatives

Manage notification mechanisms to ensure that members receive timely notification of pending proposal votes to participate in the signing of approved legal contracts on behalf of the DAO

Recruiting service providers such as outside legal counsel Coordinate public relations

Develop and maintain brand image and influence

AVATARDAO considers that the service provider team needs to use a lot of humanpower, time and social resources, etc., and gives the service fee to the service provider team appropriately. The service fee shall be paid by the initial members in the reserve pool at the beginning.

Other participants

Discord is a very open community platform. Anyone can join AVATAR DAO's community through Discord.

Joining in Discord allows users to view most of the information and documents communicated by the AVATAR DAO members, and allows users to participate in general meetings, general topics, and general events. Special groups and special contents are open to members only.

AVATAR DAO community like industry such as super large conference room, can be in the room of particular interest to discuss topics they are interested in, can also be in the room with the experts in the industry, scientists study and communication, can attend, can provide professional opinions, can communicate with each other, the room may have to share learning communication partners around the world, It will bring together like-minded and passionate partners from around the world to evolve more high-value content output and input with creative friends around the world through DAO's open and transparent spirit.

Through the above design, members can focus their time on the research of their professional fields and projects, economize their professional knowledge, and generate cross-field economic benefits through cross-field collision of ideas. Without having to specialize in all disciplines and tracks, members can more easily seize early opportunities for each track segment.

Obligations of Members

Members should actively participate in the following activities: Participate in in-depth discussions with other members of the community on relevant issues and their own strengths, and give professional advice. Carefully evaluate, discuss and vote on all substantive proposals and attend meetings at least once a month. Quarterly meetings attended on a quarterly basis Actively participate and help support projects Conduct technical due diligence on proposed projects Identify potential investment opportunities Share insights and provide analysis of investment opportunities Coordinate with other members to support investment opportunities Help to recruit and support new valuable members Help, support, service organization related activities If the investor is unable to attend the meeting due to its own reasons, it shall appoint its agent to attend the meeting.