Oversight Update
January 31, 2025
Subject: Financial Controller Update, Responsible Wind-Down, and Impact Report
Hi everyone,
Mark Dencker and I interviewed multiple candidates to support oversight functions as Pati transitions out and AADAO winds down.
Following our evaluations, we recommended two candidates to StratComm for consideration. After review, StratComm voted to move forward with one candidate:
- Matt Brown (a former oversight candidate) has been selected as the new temporary AADAO Financial Controller.
- He has formally accepted the offer this week.
Regarding the second candidate:
- He performed exceptionally well in both the interview and written assessment.
- He is a lawyer with significant DAO experience, specializing in Guernsey jurisdiction.
- I am still exploring ways AADAO can leverage his expertise, particularly regarding legal structuring and contributor liability minimization.
Key Concern: DAO Legal & Liability Risks
As AADAO winds down, ensuring compliance and operational integrity remains a priority. Unfortunately, the StratComm members do not appear to share this view.
- A critical issue is that no formal agreements exist between the DAO and any individuals/entities that received grant funds.
- Addressing this gap is essential to protect contributors and ensure regulatory compliance.
- Lack of written agreements is antithetical to the DAO’s founding and purpose, particularly regarding grant disbursements and governance commitments.
Annual Impact Report & Final Review
For its first year, AADAO published an annual review of its activities, known as the “Impact Report.”
I have requested that this report be produced again, particularly since this is AADAO’s final year.
Given the circumstances, Oversight may need to take on this responsibility.
If that is the case, rather than producing a final transparency report, we will instead work on a comprehensive retrospective review covering the past two years, which will be published as Oversight’s final report.