The running structure of Vintage DAO is the blind pool fund, managed by the Governor group, which makes investment decisions while investors enjoy the benefits. After the DAO is deployed, a blind pool fund needs to be initiated through a Fund Establishment proposal to start investment activities. There are two stages to setting up a Phase I fund:
Stage | |
Fund Establishment Proposal | It is initiated by any Governor, and the Governors group votes on whether to initiate the new fund. |
Fundraising | When the Fund Establishment proposal is approved, those who meet the Investor Eligibility criteria will be able to advance the deposit. If the fundraising is successful, a new fund is established. Those who successfully advance deposit and obtain investment shares after fundraising will become investors in the fund. |
Fund Establishment Proposal
Enter the DAO Management page and click the Fund Establishment proposal card to open the submission page of the Fund Establishment proposal.
You need to complete the following sections to submit an investment proposal.
- Information
- Fundraising
- Term
- Redemption
- Governor Fee & Carry
- Scout Fee & Carry
Information
You can provide an introduction to the fund here, including the tag, description, and external links that may contain more detailed information (such as a fund PPM), for other Governors and potential investors to review. The information section is optional, so you may omit it to maintain more privacy.
Fundraising
Item | Description |
Currency | You can choose the currency for this round of fundraising from the list of common currencies provided, or you can customize the currency by selecting Custom Token. |
Custom Token Address | You can use it to customize the fundraising currency. The currency must support the chain on which the DAO deployed. |
Minimum Funding Goal | Minimum funding amount to establish the fund. |
Maximum Funding Goal | Maximum funding amount accepted by the fund. |
Start Date | Fundraising start time |
End Date | Fundraising end time |
Minimum Deposit | Minimum advance deposit threshold for participants. You can turn this restriction off (NO) or on (YES) using the drop-down menu on the right. |
Maximum Deposit | Maximum advance deposit limit for participants. You can turn this restriction off (NO) or on (YES) by using the drop-down menu on the right. |
Type | You can choose between FCFS and Free-In fundraising methods. See Fundraising for a full list of them. |
Priority Depositors | With Free-In fundraising, you can set up Priority Depositors for your fundraising. Check Fundraising for more details. |
Term
Item | Description |
Fund Term | The total duration of the new fund, in days. It starts at the end of the fundraising period after execution. |
Return Period | The duration set for the return of remaining funds to investors after the fund ends, measured in days. |
Redemption
You can set the Redemption period and redemption fee for this fund through redemption. Check out Redemption to learn more about Redemption.
Item | Description |
Redemption Intervals | Redemption interval, that is, how long the interval between the funds provides the user with a redemption opportunity. The unit is day. |
Redemption Period | Duration of each redemption opportunity. The unit is days. This duration falls within the redemption interval; for example, if the redemption interval is one month and the redemption period is 3 days, then the last 3 days of each month are the redemption period. |
Redemption Fee | It is the redemption fee rate that Investors pay to redeem the remaining deposits during the redemption period. This redemption rate is multiplied by the total amount of redemption requested to obtain the redemption fee. |
Redemption Fee Receiver | A unified address for Governors as group to receive redemption fees. |
Governor Fee & Carry
The Governor Fee & Carry is a fee that Governors as a group in Venture DAO require from investors who participate in the investment funds in the DAO. Governor Fee and Carry receivers are DAO Governors. Governors are the managers and operators of fund assets and are mainly responsible for the governance of Vintage DAO and investment decisions, so they may charge compensation and reward for their labor and necessary expenses related to fund operations.
See Fee & Carry to learn more about Fee & Carry. Here is a brief introduction.
Item | Description |
Governor Fee | The Fee that Investors are required to pay to Governors for each successful investment in the fund, as a percentage of total Investment amount. |
Governor Carry | The carry that Investors are required to pay to Governors for each successful investment in the fund, as a percentage of total payback token. |
Governor Fee & Carry Receiver | A unified address for Governors as group to receive Governor Fee & Carry. |
Scout Fee & Carry
Scout Fee & Carry is a fee requested by the proposer of an investment proposal to the investors participating in the DAO investment, that is, the required reward for providing the investment opportunity. Scout Fee and Scout Carry payers are all investors participating in the DAO, that is, all Investors of the Vintage DAO.
See the Fee & Carry for a detailed introduction to the Scout Fee & Carry.
Submit & Voting
After filling in the above contents, you can click Submit button to submit the proposal. When the proposal is submitted, it will enter the voting period for other Governors to vote on the proposal. See Voting to learn how to vote on a proposal.
When the proposal is voted on, the fund will move to the Fundraising phase.
Fundraising
When a Fund Establishment proposal is passed and Fundraising is underway, you can check the fundraising progress and data on the homepage of the DAO, and of course, you can also participate. For information on how to participate in a Fundraising as a investor, see For Investors / Invest In A Fund.
As a DAO Manager, you need to pay attention to the following points during the fundraising phase of a fund:
- Fundraising countdown.
- Current Raised: The Fund will be successfully raised only if the amount exceeds the Minimum Funding Goal set by the Fund, otherwise it will fail.
When the fundraising period ends, you need to click Execute button to execute the transaction. If the actual amount raised is equal to or greater than the Minimum Funding Goal, the new fund will be successfully established and enter the fund operation cycle. Depending on the final allocation of the investment share, the investor can get back the portion of the advance deposit that is greater than the Minimum Funding Goal. If the actual fund raised is less than the Minimum Funding Goal, the new fund establishment will fail, and all Investors who participated in the fund raised will need to get back all funds that have been deposited, please see For Investors / Invest In A Fund for details.
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