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The Kapital Foundation Directorship 2Q23
KAP Games aims to become a fully decentralized autonomous organization, with tokenholders properly governing certain major decisions via…
KAP Games aims to become a fully decentralized autonomous organization, with tokenholders properly governing certain major decisions via both on-chain and off-chain consensus.
For certain decisions that may involve the execution of legal contracts or operational duties related to service providers, banks, and other counterparties, it is important that the DAO has a duly organized corporate benefactor to carry out the execution of such duties and agreements, which otherwise cannot be adequately executed by a distributed body of tokenholders. A Foundation constructed with the express mission of supporting and carrying out the will of the KAP tokenholders is commonly held to be the best vehicle of choice for DAOs.
Foundation directors must be ratified by the KAP tokenholders by way of majority rule. The Kapital Foundation is beneficiary-less, which means that the director themselves receives only administrative pay, but is not in a position to claim the assets of the DAO without the express consent of the KAP tokenholders, which is not a component of this current proposal.
Additionally, Foundation directors must interface closely with the elected KAP Governance Council (aforedescribed here), who are publicly nominated community members that have the rights and obligations to: (1) distill general discussion into actionable product direction proposals; (2) source and manage strategic partnerships and proposals aligned with the DAO’s development; and (3) approve exceptional operational expenses related to the DAO’s product development.
Director Nomination & Ratification
The distributed community has proposed a nomination of Noblegent as the presiding director of the Kapital Foundation. Noblegent is an experienced director who has served on other key web3 gaming Foundations over the past few years, and brings a wealth of experience to the table in terms of proper governance and accountability.
This proposal seeks to ratify the nomination of Noblegent as the director of the Kapital Foundation. If ratified, Noblegent will serve as the director of the Kapital Foundation until given instruction by the tokenholders to vacate the seat, or, at his own discretion, submit a letter of resignation.
Because the Kapital Foundation’s director will hold highly sensitive access to key contracts and wallets, it is critical to their personal safety and the security of the broader KAP DAO that their physical presence remain undisclosed. The director will, however, frequently interface with the community nominated KAP Governance Council to effect decisions and interact with service providers.
With Noblegent at the head of the Kapital Foundation, the KAP DAO has the ability to easily interface with the broader “web2 world” and continue to expand operations to further its original mission of driving greater participation in web3 gaming.
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