---
title: Nala DAO Project Charter Review
tags: Nala
---

# Nala DAO Project Charter Review

**Legal**: We are not lawyers, but we can advise (to an extent of paralegal) & make sure that the team is in compliance.
- How do we work with lawyers?
- We don't normally have to work directly with legal - it's normally more collaborative
- Mystic Whales recommend our Web3-native proposal & lawyers can make a last pass on whether this is in compliance
- It depends on the team's preference on the participation of the legal team.

**IDO**:
- Do we do Balancer pools & integration with DeFi?
- Yes. We profile the right exchanges, token pairings, pricing floors, rewards programs.

**Fundraising Goal**: Raising $5M at $50M valuation for the private round/DAO treasury, but help is not needed here
- Phase 1: Private fundraising (10% initial fundraising)
- Phase 2: Public IDO (10% of treasury)

**What is our role?**:
- Mystic Whales do token sales, tokenomics, token design
- DAO-style fundraising

**What do they need?**
- Smart contract engineering & implementation of ERC-20
- Some light advisory on IDO (Phase 2 fundraising)

**What do they not need?**
- Structuring for private fundraising
- Token design: Seems like they are going with a simple ERC-20 token with some governance features

Takeaway is:

1. Nala wants a smart contract engineer to deliver
2. They have an attorney and a direct private raise for $5
3. [Steven](https://pt.linkedin.com/in/deseventral) (was skeptical) wants to know the specifics of the token design
4. Nala may come back with a re-scope

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Stakeholder Dynamic changed
If they stay with the token design of a "simple ERC20" then maybe not a project for us