Flex DAO is a Venture DAO mode that flexibly raises funds on an investment project basis, similar to the deal-by-deal syndicate in traditional private equity. The most obvious difference from the Vintage and Collective mode is that it does not require participants to put funds into a pool to invest in several unknown projects but to raise and invest funds in a single specific project as an investment unit. The participation and governance mechanisms of the Flex DAO are more open and flexible, allowing each deal to be an independent fundraising unit. The Flex DAO provides a more flexible, lightweight private equity investment model for investors who do not put any money upfront and want to have their own choice on the project.
Flex DAO has two main types of activities, one is operational activities and the other is the settings of DAO. Operating activities are divided into investment activities and the management of Governors.
The investment activities in DAO operation activities involve Scout, TempCheck Voters, and Investors. The people who meets the Scout Eligibility criteria as the Scout of this investment project proposes, then people who meet the TempCheck Voter Eligibility criteria to carry out the temperature check, if the temperature check passes, the fundraising will be opened. Advance deposits will be made by potential investors who meet Investor Eligibility. After the end of the fundraising period, if the Minimum Funding Goal is reached, the investment will be executed. Temperature check is an optional investment process, if the temperature check is not set, the fundraising of the investment proposal can be directly opened after submission.
The Management of governors of the DAO operational activities is performed by the Governors group. Genesis Governors are set by Summoner when the DAO is deployed. The addition and removal of Governors are then subject to a proposal submitted by any Governor and approved by vote of the Governors group. Governors can also Quit this status by governor quitting.
The initial setup of DAO is initially set by Summoner at the time of DAO deployment, including Profile, Investor Limit, Investor Eligibility, Voting mechanism, Fee & Carry, etc. When the DAO is deployed, a proposal will need to be submitted by any Governor, and the Governor's group will vote to approve the modifications.
Scout, TempCheck Voter, Investor, and Governor are four different roles in the Flex DAO. They are not mutually exclusive, and one person can have multiple roles at the same time. Each Role has its own entry criteria (Eligibility). Scouts and Governors can demand a Fee & Carry as compensation and reward incentive. The above can be managed by DAO settings management.
Since Flex DAO's investment activity is a deal-by-deal cycle, the pool of funds is vacant when there is no investment, so there is no redemption period and redemption fee.
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