Legal Structure

Per an accepted and executed by the Members proposal, DeXe Protocol DAO is to have an off-chain ministerial structure via a Swiss Association (the “Association”). Its sole activity is the off-chain Treasury administration on the operational level and implementation of decisions of the DAO by means of off-chain instruments.

Practically speaking, the Association may have the following functions:

• Its Council members may serve as the executors of the decisions of the DAO to make any transfers from the Association’s reserve to other entities based on executed DAO proposals.

• It may administer and implement any grant programs approved by the DAO and make legally binding agreements with grant receivers.

• It may engage service providers and utilize other off-chain means for the purposes of the Protocol development and enhancement, namely, the Association may engage software development services, marketing services, legal and other services providers; organize events such as conferences or hackathons; engage certain crucial individuals, whose participation may be beneficial for DeXe, as advisors or in other capacity.

• It may perform any other off-chain activity which is beneficial to DeXe Protocol DAO and its community.

Council members may distribute funds from the Treasury for various operational needs but strictly within the parameters set by the DAO via the proposal path. This means that the DAO sets both the limits of how much the Council may withdraw within a certain period (week/month/year/etc.) and which token they may withdraw (e.g. they could withdraw $DEXE and $ETH but no other token). If Council members wish to take out treasury funds (within the parameters set for them), they hold a Council-only vote on it.

When the DeXe Protocol DAO validator is appointed by a DAO (rather than by other DeXe Protocol DAO validators), that person automatically becomes a Council member as well. Council members may be changed at any time by the decision of the DAO.