---
# System prepended metadata

title: Gringotts DAO Meeting Notes
tags: [' meeting', gringotts]

---

---
title: Gringotts DAO Meeting Notes
tags: gringotts, meeting 
---

# Gringotts DAO Meeting Notes 

## Introductions
- arentweall: Core contributor for DAOhaus, MetaCartel, Raid Guild
- Jeremy: Core contributor for DAOhaus, MetaCartel, Raid Guild 
- James: ==Couldn't catch the audio== 
- Diana (ddwchen): Run content & marketing for Rabbithole & active participator in DAOs 

## Current Progress
- Launched Gringotts article with 1 tweet from Peter
- 100 members interested in joining
- Deadline for members: 10 December

## Applications Pipeline
- Refer to [Google Sheet](https://docs.google.com/spreadsheets/d/1NzAKqGQkWjSJAN4mwmA4OqoiZ6Up_dUr_hB6tEF6XAg/edit#gid=0)
- Based on the questions, the profile is heavy on community management, but light on tokenomics & distribution mechanisms. 
- Can DAOs join? In the future, yes. 

## Season 0
- Objectives:
    1. Find a small group of contributors that are (1) aligned (2) equal ownership (3) quality
    2. Develop framework/processes on how the DAO works before we scale up capital 
    3. Earmark some funds for an operational budget
- Targets 
    -  Raise: $500K USD; 25 members x 5 ETH
    -  Members: 25-30 max
    -  Number of Loans: 
-  Contributions: 
    -  Capital: This is compulsory, minimum 5ETH to 20ETH each
        - Minimum amount to be inclusive
        - Small spread between smallest and largest contributors, minimising divide (4X)
    - Sweat: Members can provide sweat equity & earn discount on shares later on
- Season Length: Dependent on milestones (need to take into account NFTfi loan period of 90 days)
    1. 25-30 members 
    2. Number of loans underwritten, over few models


## Discussion 
- Season 0 Principles
    - It is a probation period to see who contributes enough. Those that do less will be refunded. Those that do more can earn more shares. 
    - We do not accept pure capital contributors. 
    - Every fortnight, we can vote and adjust share distributions among active contributors
- For applicants who didn't make the shortlist, we give them a POAP that gives early access to Season 1
- Management fee/operations budget: 1-2% management fee on funds committed with X% service fee on loans distributed weekly 
- Legal entity not required unless signing documents

## Next Steps 
- Set up a multi-sig (3/8) linked to Yeeter page 
- Stop promotions, but keep the applications rolling for interesting contributors
- Ask applicants their contribution budgets before doing 1-1s
