Beginning with the launch of Fund 1, initiated through an early community proposal, Stacker Ventures will initiate a series of funds and an integrated accelerator. Funds are regulated by a secure and standardized protocol and leverage the community of STACK token holders for support in governing the ecosystem of funds and incubating/accelerating investments.
The governance of Stacker Ventures will be rolled out in phases in order to allow for agility and the exploration of a reputation system that rewards contributions to funds, the protocol, and accelerator projects. The first iteration of the Stacker Ventures DAO uses Aragon, a framework for launching and managing DAOs, alongside Snapshot for off-chain voting.
The STACK token is the governance token for the Stacker Ventures ecosystem of funds. Token holders will participate in decisions regarding funds within the ecosystem, including the operation of Fund 1, the Stacker Ventures protocol, the community accelerator (coming soon!), and the governance of related projects.
In return for contributions from the community, funds may configure a distribution of capital or profits to contributing STACK holders. Fund 1 will pay 5% of its assets to the Stacker Ventures DAO Treasury.
STACK holders can access different tiers within the DAO based on the amount of tokens they hold. Permissioned channels are live in Discord based on STACK token balances and can be accessed by typing '!join' in any channel.
Stackers with at least 10 STACK will have access to the Stacker Ventures Accelerator. With a vested interest in the success of the projects, these members will have access to:
Referral rewards (earn STACK if Fund 1 invests in a project you refer)
Early access to project betas
Communication lines with early-stage project teams
The ability to earn reputation within the DAO (once we move to governance v2)
The number of tokens to enter the StackPack may rise over time.
While STACK holders can vote on all DAO proposals, access to deal flow and due diligence materials will be restricted to STACK holders that hold more than 1,000 STACK tokens. This maintains the privacy of deals, and projects may choose to disclose varying amounts of information outside this group.
Due to the current low supply, this number will rise over time. To join, you will need to hold 1,000 STACK before the launch of Fund 1 (May 1st), 2,000 after, and 5,000 after Fund 1 has been active for four months. That way, the group stays relatively small while rewarding early participants.
Members that join now with 1,000 tokens will remain in the group after the requirements increase so long as they continue to hold at least 1,000 of their tokens.
Due Diligence Committee members will:
Conduct due diligence on deals and discuss within the group
Vote (likely using Snapshot) on which opportunities Fund 1 invests in
Help guide early stage projects through the funding process
Pass the vote on to the DAO Council to implement
Possible first access to future funds (tbd on a by-fund basis)
Have access to dealflow if extra allocation is available or if Fund 1 decides to pass on an investment
Adhere to a code of ethics (or be removed by the DAO Council)
Individuals with a significant stake in the DAO will be able to apply to join the DAO Council. Members of the Due Diligence Committee will be able to apply after acquiring 20,000 STACK or beforehand, given the intent to acquire STACK upon approval by a DAO Council vote.
This council has proposal rights over the DAO. This is to ensure that no malicious proposals are passed, especially as the DAO treasury has a significant active balance. All DAO Council are required to hold 20,000 STACK, and therefore have a significant stake in the success of the DAO. While only DAO Council members can submit proposals, all STACK holders can vote on every proposal, and anyone with more than 10 STACK can submit a pre-proposal to the council for review.
Note: All proposals will be voted on by STACK holders, so the ultimate decision-making power rests with the community.
STACK holders can vote on proposals regarding changes to code, the election of representatives, incentive structures, and how to deploy funds from the Stacker Ventures DAO Treasury.
Stacker Ventures hopes to leverage off-chain voting where voting is necessary, and the contributors are actively exploring Aragon & Balancer Labs' Snapshot with off-chain voting and on-chain execution.
Proposals will be possible upon launch, and you can join our **Pre-Proposal Channel in Discord for our guidelines in constructing a proposal and for feedback.
A Stacker Ventures DAO Treasury has been set up to hold ~47% of the STACK token supply, as well as an initial contribution of stablecoins and ETH. STACK holders will vote on how to best deploy treasury funds to promote a sustainable ecosystem. The Treasury will also receive any proceeds from the community allocation of fund management fees, including a 5% fee for managing Fund 1.
The Treasury will be immediately accessible upon launch through Aragon's interface and controlled by STACK token holder voting.