I shared the following in the $ATOM Community Chat (tg) earlier today, adding here for cover and visibility.
RE: Transfer of Assets and Agreements
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The Guernsey trust functions solely as a custodian of Cosmos Hub assets; while it holds legal title, it exercises no discretionary investment authority. Upon receipt of a valid and sufficiently specific instruction from the principal, Cosmos Hub governance, the Trustee should be able to transfer the subject assets and any related investment agreements to a sufficiently shielded entity representing the Cosmos Hub. Please note, there are no assets held by the Trustee at this juncture.
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Should an on-chain proposal be submitted, its operative clauses should be drafted in terms acceptable to the Trustee of record, Lemma Ltd. Ideally, we would want the passage of the proposal to constitute “effective instruction” for purposes of the trust deed and automatically trigger the migration event. To ensure this, I ask the community to work w me and Lemma to draft appropriate language if y’all wanna pursue this.
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Reached out to Lemma Ltd to discuss the above.
Update RE AADAO FTE & Active Roster
- Presently, four contributors are compensated at 40% FTE (~16 hours pw/~64 hrs pm @ $3,500 per contributor pm).
AADAO indicated this Monday that they plan to *reduce each contributor to 20% FTE or less". While seemingly more cost-efficient, I’m concerned the across-the-board reductions FURTHER impair timely reviews and approvals. Due to lack of engagement and ownership of issues, the 40% FTE arrangement at present is already largely unproductive. Too many PT cooks in the kitchen, is the issue.
Instead, I’ve recommended retaining one grant reviewer and the operations associate at 40% FTE and release all other non-essential personnel. I haven’t received a response to my recommendation.
- Margaux, an independent communications contractor hired by Syed, bills $500–650 per month; her services should be kept until all DAO operations are formally wound down.