⚖️ Legal updates

2024 saw continued progress on the foundations that were laid down in the previous year, solidifying the legal and governance framework necessary for the DAO’s operations and decentralization goals. The DAO operates through a structured framework comprising of the DappRadar Foundation, which serves as its core governing entity, and the DappRadar Labs Limited, the underlying entity, which functions as its operating arm. The structure has been instrumental in ensuring compliance, efficiency, and alignment with the DAO’s long-term vision.

Key milestones achieved

• Continued transfer pricing work with iVC: ensuring financial compliance and transparency within the DAO’s operational structure, helping to create a more robust financial ecosystem.

• Access agreement finalization: The agreement, now completed and signed, enables seamless integration of the DAO’s on-chain utilities within the DappRadar platform. This ensures legal access to UAB DappRadar’s intellectual property and facilitates the incorporation of the RADAR token into DAO-driven initiatives.

• DAO Governance structure specification: Significant progress has been made in formalizing the governance model, with efforts focused on translating on-chain governance mechanisms into the Foundation’s legal by-laws. The first version is in its finalization stage, ensuring a structured decision-making process within the DAO.

• Loan agreement formalization: Addressing previous financial interactions, the Loan Agreement was structured to ensure independent and regulatory-compliant borrowing mechanisms between UAB DappRadar and the DAO. This establishes a transparent financial framework essential for long-term sustainability.

• Software development agreement implementation: This agreement, which is still work in progress, grants the DAO access to critical development and operational services, supporting the ongoing enhancement of its infrastructure with a defined cost structure. This ensures continued improvements in technical infrastructure and user experience.

• Expansion of DAO contributions: Key contributors have been onboarded, with agreements in place to ensure structured and aligned participation. This includes defining roles, expectations, and compensation models to incentivize high-quality contributions.

• Onboarding of additional service providers: To support the DAO’s expanding needs, new service providers have been engaged, strengthening operational capabilities, security measures, and technical development.

• Advisory board evolution: The Advisory Board’s role has been further refined to provide strategic guidance while maintaining non-binding input. Efforts are ongoing to ensure broader community participation in shaping DAO policies.

• Enhancements in decision-making processes: Adjustments have been made to improve the flow of decision-making between the DAO Assembly, Advisory Board, and Director, which will be incorporated into the Foundation’s by-laws. This refinement aims to balance efficiency and decentralization while maintaining compliance with legal and regulatory requirements.