This proposal is to allocate an additional operational budget for “Service arm entities” of Aurora DAO - Aurora Foundation (Cayman Islands) and it’s subsidiary Aurora DAO Ltd. (BVI) (assigned to this role in March 2022).
These “Service arm entities” provide the required legal basis to interface with the authorities and other legal entities. Moreover, the legal entity put in place helps shielding liabilities from the participants of the DAO.
The previous operational budget in the amount of $NEAR 15,000 was allocated in March 2022. However, due to the significant drop in exchange rates the budget has been almost fully used. The Report on actual usage is following:
Considering efficient work of “service arm entities” and their contractors the following is suggested:
Continue assignment of Campbell Law as Director and SILVERSIDE MANAGEMENT LTD as Secretary and Supervisor of Aurora Foundation (Cayman Islands) and Campbell Law as Director of Aurora DAO Ltd. (BVI) with annual remuneration of up to USD 50.000.
Continue assignment of Optimum Finance Consulting LLC as a financial outsourcing team for transaction execution of all DAO recommendations from DAO wallets with monthly compensation of USD 2.000.
Transfer WNEAR 28.200 (twenty eight thousand two hundred) held on auroradao.sputnik-dao.near to aurora-foundation.sputnik-dao.near for operating needs (operational budget as provided below) of Aurora Foundation (Cayman Islands) and it’s subsidiary Aurora DAO Ltd. (BVI).
Approve operational expenses according to the estimated budget provided below for the period from November 2022 till December 2023. Management of Aurora Foundation (Cayman Islands) and it’s subsidiary Aurora DAO Ltd. (BVI) shall be allowed to select service providers needed for normal activities by themselves, however in line with the budget amounts and needs of the ecosystem.
Budget deficit shall be financed from the Validator proceedings previously allocated to Aurora Labs by decreasing its allocation by the amount, if any, required to fully finance operational needs of the Service arm entities for the mentioned period considering p.3 above.