Definition & How To Be
Vintage DAO has five roles, described as follows:
Roles | Definition | Right & Benefit | How to Be |
Governor | Manager of DAO | Initiate fundraising, investment decisions, member management, DAO parameter adjustments, contract upgrades, etc. The governors as a management group can charge management fees and carry from all Investors. | Way 1: Be added as a Genesis Governor when deploying the DAO.
Way 2: Submit a Governor-In Proposal by an existing Governor to apply to become a Governor. |
Investor | Investor of DAO | The investor is the member with deposits in the DAO's fund. Each successful investment transaction may require fees and incentives to be paid to Governors and Scout, depending on the fund's Fee & Carry settings. Investor enjoys all investment returns after paying the Carry. | If a participant meets the DAO's Investor Eligibility criteria, successfully deposits during the fundraising period and is successfully allocated investment shares when fundraising closed, this participant will become a DAO Investor. |
Summoner | The founder of the DAO. Default as a Genesis Governor. | Summoner as one of the Genesis Governors and always enjoyed the status and rights of the Governor. Summoner's voting power depends on how Voting assets are set up in the Voting system. | Summon a DAO. |
Genesis Governor | Co-founder of DAO, the first member to have the Governor role. | Genesis governor always enjoyed the status and rights of Governor. This role is NOT subject to Governor Eligibility when joining the DAO (deploying DAO). Genesis Governor’s voting power depends on how Voting assets are set up in the Voting system. | When deploying the DAO, Summoner can add several wallet addresses to be Genesis Governors, similar to a whitelist. If no address is added, the Summoner is defaulted as the sole Genesis Governor. |
Scout | Investment project proposer | Submit an investment proposal, apply for DAO funding to invest in a project, and get Scout fee and Carry (depending on the fund's Scout Fee & Carry). | Any Governor of Vintage DAO has the right to submit an Investment proposal and become a Scout. |
Governor & Investor
Investor and Governor are essentially two role labels that are neither mutually exclusive nor inclusive of one another. Members with the Governor label enjoy governance and investment decision-making rights in the DAO. Whether a member has the Investor label depends on whether they have a deposit balance in the DAO, which means that members with the Governor label can also have the Investor label, and vice versa.
The Voting Power of Governors depends on the Voting Asset owned. Only when the Voting Asset is set as a Deposit, does the Governor have NO voting power if he does NOT deposit and become an Investor. If Voting Assets is NOT set as Deposit, the voting power of Governors is not linked to being an Investor.
How Vintage Roles Compare With GP/LP Roles of Traditional Fund
Governors (including Governors with the Investor label and Non-Investor Governors) act like a role similar to that of traditional fund GPs. However, in traditional funds, GPs more or less invest in the funds they manage; it is rare to have a Non-Investor GP.
Non-Governor investors are like the LP roles in traditional funds, entrusting professionals (GP) to manage their wealth.
Rights Of Governor In Vintage DAO
Items | Type | Description | Who Propose? | Who Vote? |
Fund Establishment | Proposal | Start a new fund in this Vintage DAO and fundraise after approval. | Any Governor | All Governors |
Investment | Proposal | Propose to invest in a project. | Any Governor | All Governors |
Governor-in | Proposal | Invite a new Governor. | Any Governor | All Governors |
Governor-out | Proposal | Manually adjust the voting assets of governors under the Allocation voting mechanism. | Any Governor | All Governors |
Governor Voting Asset Allocation | Proposal | Manually adjust the voting assets of governors under the Allocation voting mechanism. | Any Governor | All Governors |
Investor Limit | Proposal | Adjust the maximum number of investors in DAO. | Any Governor | All Governors |
Governor Eligibility | Proposal | Modify the eligibility requirement to become a Governor of DAO (Threshold to entry rather than maintenance). | Any Governor | All Governors |
Investor Eligibility | Proposal | Modify the eligibility requirement to become a Investor of DAO (Threshold to entry rather than maintenance). | Any Governor | All Governors |
Voting Mechanism | Proposal | Modify the voting mechanism, incl. weight algorithm, support, and quorum, voting period, grace period, execution period. | Any Governor | All Governors |
Contract Update | Proposal | Update latest smart contract for future operation. | Any Governor | All Governors |
Profile | Action | Update the DAO’s basic information | Any Governor can do, without a proposal. | n/a |
Quit | Action | Quit the DAO and give up the Governor Role | Any Governor can do, without a proposal. | n/a |
← Previous
Next →