To Read in French — https://cutt.ly/pmhFo12
Following the WACEO’s recent meeting with the TacoSwap DAO representatives, and guided by the findings of our prior light audit on the DAO, we have come to the conclusion of three broad policy and structural actions that the TacoSwap community needs to take to become a functional DAO:
- TacoSwap DAO members need to officially vote for their representatives.
Presently, various community members stand for election as DAO admins, who will work jointly with the WACEO Coordinator and Legal Expert, while helping in management, supervision, compliance training and marketing for and on behalf of the community.
We expect all admins to be elected via similar transparent and democratic methods. Consequently, it’s important that this procedure is formalized and open to participation from community members.
2. Establish a clear posting and voting system.
According to the TacoSwap Constitution, anyone who holds 70,000 Tacos can post a proposal for voting.
The proposals must further the development of the DAO in a tangible way. As such, each proposal must contain certain necessary information in order to ensure the suggested policies are in the best interest of the community and actionable.
3. Fill mandatory staffing requirements:
- Designated treasurer and custodian of all DAO funds. The tasked Service provider will serve as a custodian, be in charge of deploying private keys and take care of the DAO funds. For this function, WACEO will engage either a notary, an accounting firm, an auditing firm or a licensed public servant.
- A legal coordinator. A paralegal or MLRO officer will be responsible for registering the Tacoswap DAO and obtaining the necessary licenses in the relevant operational jurisdictions.
- Marketing agency. A WACEO Service Provider which will provide marketing services to the community, and whose Marketing strategy will be voted on via proposals
- Smart contract development agency.
Following this announcement, WACEO will post necessary proposals for the TacoSwap community to vote on.
WACEO encourages the TacoSwap community to propose their Service Provider of choice to WACEO, so we can do the necessary vetting and follow the Service Provider onboarding procedure to make sure they are well equipped and knowledgeable enough to work with DAOs.
As a final post-factum, the WACEO strongly recommends the TacoSwap community to start following and supporting their official social media channels to increase the project’s visibility and credibility, which will allow the soon-to-be-chosen marketing agency a far better ability to help the project.
For reference, here is the TacoSwap social media:
TG ES: https://t.me/TacoSwapOficial
Discord FR:https: //discord.gg/N7s9pPZkQE
Discord EN:https: //discord.gg/VRPAY3AQjB
Discord ES:https: //discord.gg/4axvaZqKbF
WACEO, as a non-profit blockchain advisory entity, views as its institutional mission to help DAOs like Tacoswap, to reach regulatory compliance in the ever changing legal landscape.
There are many challenges and obstacles remaining for the formalization of TacoSwap as a legally compliant DAO. Nevertheless, the path forward is clear. If the community stays attentive, active and motivated we will get there soon!
As such, we look forward to continuing our work together with TacoSwap and we would like to congratulate them for taking the first steps towards operating legally and autonomously.