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tags: Mystic Whales, Template
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# Nala DAO Discover Call

## Background

Decentralized Hedge Fund, market making

Liquidity & staking for decentralised derivatives.

Hypothesis: Decentralised derivatives is the last primitive that hasn't been adequately solved

Creating middleware & application layers for derivatives

North star: creating markets
Team comes from Vega (bespoke for derivatives trading)

DAO is not tied to a specific project, and they are using it

Most software projects can only provide software, but not create markets (regulatory)

## Objectives
Building out integrations
Product roadmap is straight-forward

Membership model, what does that look like

Token launch - OpenZeppelin framework
Has many questions, have not launched a DAO before

Does not want to be an Index Coop, not too open off the bat, desire gated
- what they are building is very specific
- data scientists and quant traders

Wants to replicate a Board or "Council", criteria or decisions to set out
- Working groups (e.g. pods) to be set up (3 already in operation, targeting 6 )
- educational tools for community memebers, where they can come into the pods, can hire from community

Membership granted to non transferable NFT, gave you boost in voting power
- moving away from just token voting

Ideal user:
1. Community - everyone is a bit of trader/dev, crypto native, build out community, multichain defi is a thing
2. User of the protocol - Defi native
- Derivative projects: defi project Oracles, non EVM compatable w/traditional links

Providing liquidity to derivatives L1s (e.g. INJ, Vega) & managing derivatives actively.

Users are mostly likely not derivative traders. Like Yearn

Treasury / fundraising
- Pending entity setup (looking at Switzerland)
- Operating and liquidity capital, $10M USD
- Who are you raising from:
- Token swaps with partner projects, get governance as a service model

Nala is the GTM for these clients, experts in decentralized derivatives

## Goals
Creating the DAO structure and treasury raise with Nala DAO

## Scope

1. Creating Token
2. Launching Token, taking market

## Deliverables

1. Token design, tokenomics
1. NFT design, considerations
1. Regulatory navigation for KYC/raise $10M
1. White glove token raise/fundriasing
1. Suggest raise timeline scope

## Milestones/Timeline

Depends on regulatory set-up
Soft-launch 11/17/2021 because you can be a Vega validator
https://vega.xyz/

Sooner the better, fundraising before Christmas
When to get raising

## Future Considerations
- creating liquidity pools and exchanges

## Out of Scope
- community onboarding is yes/no need, 6-9 months is not needed

## Project Exit
1. Token design delivered
2. Token launched
3. Assistance in raise
4. Regulatory entities navigated and delivered

## Key Stakeholders

5 full time folks + 3 part time contributors

Mystic Whales: Sydney, Amos, Ryan

## Constrains/Assumptions/Risks/Dependencies

Running a node for Vega, 13 validators (POS)
Are they running an exchange

Need capital to build integrations, need $700K-$800K