Summary: Service Providers
In this document, we try to summarize the information we have received so far from two service providers who will help us set up and maintain our decentralized investment funds; both on and offshore. The choice of which provider we end up engaging is ultimately up to all FC members.
It is important to mention that we chose these two providers to put for a vote in FC, not only because of the technology they offer but also because their teams were very responsive and excited about collaborating with bDAO! Though they take slightly different approaches, both would help us with:
- Setting up legal entities (off-chain)
- Customizing smart contracts that cater to our governance needs
- Voting structures
- Dashboards for our investment activities and interactions
- Ongoing administrative support
We hope that this summary and the past ones linked here will help you make up your mind. We tried to highlight not only the costs of engaging either provider but also provide a little bit of context (when possible).
Coinocracy Finance
Here is a summary of their costing:
Syndicate will help us with all the points mentioned above, however, they are not currently able to help with setting up an offshore legal entity. That being said, there is potential for using their governance infrastructure for the off-shore entity, though we would need to set up this entity using alternative means.
If you weren't able to make it to the roundtable, you can access the recording and the transcript here. You can also read more about them on their site.
Here is an overview of their costing:
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Syndicate Cost
Item
Type
Amount in USD
*Other operational fees are limited to gas fees
*Syndicate does not charge a service fee
Notes from the roundtable:
- Syndicate goes beyond what the typical service provider is offering, as they have the vision to create an interconnected network of investors and investment DAOs or a decentralized venture capital ecosystem.
- They have a strong focus on community and community building in this space, which makes collaboration with bDAO ideal.
- They are adept at setting up onshore entities and their technology is battle-tested as they have, to date, set up a number of investment DAOs including Komorebi Collective.
- They are entrenched in the VC space, both traditional and decentralized, as they are backed by Ideo CoLabs. This could potentially be very beneficial to us in terms of deal flow.
- Their protocol would allow for involving non-accredited US investors through member NFTs; allowing us to be more inclusive and to accommodate more bDAO members. (Though, here it would pertain to IDOs not equity)
- There is potential for future rewards for our membership through tokens or airdrops.
**additional costs will be incurred for hiring external legal help with setting up or reviewing our operating agreement.