The Hop Foundation, based in the Cayman Islands, acts as a legal layer for Hop DAO and is bound to the will of HOP token holders as determined by token vote. The community has expressed interest in Hop DAO conducting a private sale of HOP which the foundation should document appropriately under Cayman law.
Hop DAO authorizes the Hop Foundation to explore legal options and documentation so that should Hop DAO vote to conduct a private sale, the Hop Foundation is prepared from a legal perspective to execute it.
Ensure the Hop Foundation is prepared if the Hop DAO elects to conduct a private sale of HOP.
Yes - Authorize Hop Foundation to explore private sale legal options
I have questions. Authorization for exploring legal options and documentation to allow for conducting a private sale is one thing; actually carrying out such a private sale is another. I am in favour of authorizing the process of exploring the legalities, etc, of a private sale, but I would caveat that by saying any private sale should require at minimum the following information for DAO consideration:
(4) For how much?
(5) From where?
I assume this would be an allocation from the treasury. In that regard, doling out tokens affects governance and alignment of principles. A private sale must be mutually beneficial. HIP-2 is not the place for this, and I don’t want to put the cart before the horse, but we should be flagging this issue for later consideration.
Primarily this thread and was touched on in a couple other places.
Yes, exactly. As PaperImperium said here, it may have been a bit formal for this to go through a proposal since there’s no budget or binding consequences. Pre-authorizing the foundation to do certain things could help speed things up in the future.