METACARTEL VENTURES

METACARTEL VENTURES

Venture DAO is a distributed autonomous organisation (DAO) that is a crypto-native and remote-first way for people to coordinate funding, labour, time and social capital. The governance of DAOs are distributed, with all funds and assets managed on-chain via smart contracts. There’s no board of directors, nor is there central control of the organisation. They coordinate components of the soft human-facing layer of crypto: money, social capital, reputation and attention. They give power to individuals upon crowd consensus and are inherently a political tool. — MetaCartel Ventures WhitePaper MetaCartel Ventures (Venture DAO) is a for-profit DAO created by the MetaCartel community for the purposes of making investments into early-stage Decentralized Applications (DApps). It embodies a community-oriented membership structure and offers radical flexibility in participation in a manner that is unparalleled by traditional “venture capital fund” models. Our investments are directed by our DAO members (Mages): they will be the ones sourcing, conducting due diligence, proposing, and voting on investments. The admission of new members into the DAO is permissioned and member-curated; while the ability to exit the DAO is completely permissionless, allowing exiting members to receive their full pro rata share of the DAO’s assets at any time. Our DAO is made up of a code and law pairing; with our business LLC entity being tightly coupled with its smart contracts and token technology deployed on the Ethereum main-net. The technology half will consist of an instance of the Moloch v2 smart contract standard and the legal half consisting a member-managed Delaware limited liability company governed primarily by the Grimoire (the “Limited Liability Company Agreement”) and the statutes of the Delaware Limited Liability Company Act.