Author: tankbottoms
Date: 2022-09-23
Thesis
Discontinue Tankbottom's $16,000/FC payout.
Motivation
Tankbottoms has been unable to participate in the JB Discord and to the degree that is required for a member with such a payout.
Also see Tankbottoms Update (IPFS).
```text
Title: @tankbottoms(🎽,🍑) Update
Author: @tankbottoms(🎽,🍑)
Date: 2022-08-22
```
This is an update regarding work I have committed to doing, what I am currently doing, and background on other activities I am involved in.
### Movement DAO/DAOLABS
Movement DAO is currently on-hold in order to focus on building a minimum feature set. The purpose of Movement has been clarified: to facilitate non-profit entities. The development group with which I work has formalized DAOLABS, a for-profit development company building on-chain tools for either non-profit or for-profit activities. DAOLABS is building a core ‘treasury’ application, which is powered by the Juicebox Protocol. Its other applications include NFT tooling, accounting, and crypto on- and off-ramps. The revenue model is not finalized; however, access to the application will likely be predicated on holding a JB project NFT, or being involved with Juicebox-related governance. The Juicebox Protocol, as well as its brand and community, is and will continue to be an important part of our tooling.
### [JBP-157 - One-time payout to dao-lawfirm.eth](https://snapshot.org/#/jbdao.eth/proposal/0x335de9498378f42516408abf6a9379b61cc202b03d02be06793ba9c8021801e9)
While no funds were provided to me, I did champion this activity, and as such, am responsible for an update. The DAO paid the first $20,000 to the firm. I requested the second $20,000 be retained by the DAO. The legal documents procured for the [Legal Tool site](https://daolabs-docs.on.fleek.co/) are well valued beyond $20,000. I personally paid the firm out of pocket for these documents.
The law firm delivered a draft opinion regarding the Banny character and its proposed uses: See [Opinion Letter Regarding Use of Banny](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/ex/Juicebox-Opinion-Letter-Banny.pdf).
The law firm also delivered a draft [privacy policy](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/ex/20220522-Privacy-Policy.pdf), which was predominantly legal boilerplate and was not particularly useful for Juicebox, due to the fact that the Juicebox Protocol previously stored no personal information, and after adding Fathom analytics, anonymizes all personal information. The privacy policy from Fathom was and is sufficient.
The core activity was to research, create, and distribute an opinion letter regarding the JB mechanics. A [Draft Opinion Letter Regarding Securities](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/ex/Opinion-Letter-No-Attribution.pdf) was created; however, the Juicebox Protocol mechanics are complex, and without an internal cryptocurrency expert (the Law firm’s usual advisor was unavailable), the draft did not correctly articulate Juicebox mechanics and how they relate to securities. Moreover, I underestimated the amount of time which would be required for an individual to provide technical information, to re-articulate the mechanics, and to provide edits/feedback on the draft. In the end, I intended for JB to be provided with actionable “do”s and “don’t”s instead of the usual “this is what the law says and doesn’t say, and where it doesn’t say it, do nothing”. As a result of the senior legal time spent researching and articulating the dimensions of securities infrastructure, I decided that surveying existing DAO-securities-cryptocurrency approaches and providing a succinct solution would be productive.
### [JBP-227 - Renew tankbottom’s recurring payout](https://snapshot.org/#/jbdao.eth/proposal/0xed90329c4a99a238f9d3582bac701cb93bc24a4ed9d235bf80a3814ea9c43dc4)
The following activities were promised to be orchestrated or developed by me on July 15, 2022:
**1. Continued design and UX work regarding additional features for the Juicebox application.**
Natasha Pankina has continued to design JB-related application features within [Figma](https://bit.ly/3BJ32R4). Many aspects of additional on-chain utility and governance features for DAOs have been explored. A full-parity [Juicebox front-end application has been implemented in Svelte](https://github.com/DAOLABS-WTF/juice-interface-svelte), as well as a streamlined [Juicebox project page](https://github.com/tankbottoms/tiles-wtf-gallery).
Additionally, an [Accounting tool](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/accounting-walkthrough.mov) has been created.
Svelte is compiled, smaller, and faster than ever (with the newly released SvelteKit). Apple uses Svelte for their [Apple music beta website](https://www.reddit.com/r/sveltejs/comments/v7ic2s/apple_beta_music_uses_svelte/).
**2. Continued development of NFT tooling both UX and Cloud Functions.**
- [NFT Creation Workflow](https://daolabs-nft-tooling.on.fleek.co/) - [Select Create Token](https://daolabs-nft-tooling.on.fleek.co/user)
- [Cloud functions to support rich NFT creation](https://github.com/DAOLABS-WTF/juice-interface-svelte/tree/main/functions/src/routes)
- [Zora-style quick Edition mint](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/edition-workflow.mov)
- [NFT creation - Image workflow](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/image-workflow.mov)
- [NFT creation - Music workflow](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/music-workflow.mov)
- [NFT creation - Video workflow](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/video-walkthrough.mov)
- [NFT creation - p5.js workflow](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/p5.js-walkthrough.mov)
- [NFT creation - PFP workflow](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/pfp-example.mp4) - note the assets for each layers are mixed SVG and PNG files - @cookieslayer is a total Stacy
**3. Continued development of NFT; multi-token treasury smart contracts.**
- [NFT extension contracts](https://github.com/DAOLABS-WTF/juice-contracts-v3/tree/feat/extensions/contracts/extensions)
- [DAI Treasury delegate](https://github.com/DAOLABS-WTF/juice-contracts-v3/tree/feat/extensions/contracts/extensions)
- [Juicebox Typescript Update](https://github.com/jbx-protocol/juice-contracts-v3/compare/main...DAOLABS-WTF:juice-contracts-v3:main)
**4. Continued development of 3rd party payment processing service for Juicebox contributions (to result in a new treasury for fiat onramp fees).**
The [New Wallet component](https://identity-develop.web.app/) supports BOLT and Wyre credit card processing and cryptocurrency BETA on-ramps. It also hosts other crypto-wallet features, such as:
- Multi-party computation (Shamir’s) for seed/private key online storage;
- user backup strategies via QR codes and camera scanning;
- alternative sign-in strategies using Google, Github, Username and Password, and SMS;
- support for both n seed phrases, derivation of any of the n seed phrase (yay, totally), and private key importing accounts; and,
- Gnosis Safe management.
**5. Continued development of Legal Resources online documents and materials.**
The creation of a [legal template generation tool for Juicebox](https://legal.juicebox.wtf/) with over $20,000 of legal agreements includes support for [UNAs](https://legal.juicebox.wtf/legal/unas/README.md), [WA/DE LLCs](https://legal.juicebox.wtf/legal/llcs/README.md), [C-Corporations](https://legal.juicebox.wtf/legal/ccorp/README.md), [Trusts](https://legal.juicebox.wtf/legal/trusts/README.md), and other structures.
The website includes Juicebox Project creator help pages for [Project Planning](https://legal.juicebox.wtf/legal/intro/project.md), a [Legal Primer](https://legal.juicebox.wtf/legal/intro/primer.md), a [For-profit guide](https://legal.juicebox.wtf/legal/intro/for-profit.md), [a Non-profit guide](https://legal.juicebox.wtf/legal/intro/non-profit.md), and a bonus [Securities overview](https://legal.juicebox.wtf/legal/intro/securities.md).
**6. Continued development of on-chain Banny for veBanny and Bannyverse - https://app.bannyverse.xyz for the Bannyverse application.**
- [veBanny on-chain contracts](https://github.com/tankbottoms/vebanny-bannyverse-on-chain/tree/csc-auction/solidity/contracts), and [veBanny and BannyVerse on-chain assets](https://github.com/tankbottoms/vebanny-bannyverse-on-chain)
- veBanny Token detail viewable [here](https://vebanny-token.on.fleek.co/?banny=20&lock=5), and complete character grid [here](https://vebanny-token.on.fleek.co/secret.html) and [on-chain font generation of lock periods, demonstrable](https://vebanny-token.on.fleek.co/backgrounds.html)
- [BannyVerse source code](https://github.com/tankbottoms/bannyverse-app), viewable [here](https://app.bannyverse.xyz/)
**7. Continued support of legal opinion, agreements and other legal documents for the DAO, and for its members.**
- See [Legal-Tools](https://legal.juicebox.wtf/)
- Previously delivered, July 18th, 2022: [Juicebox TOS](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/ex/terms-of-service.md)
**8. Bonus Activities**
- [Tiles.wtf](https://github.com/tankbottoms/tiles-wtf-gallery) - currently [minting](https://tiles.wtf/dao?network=mainnet) all previous OG Tiles owners on a new contract, then minting new v2 mints. see [Etherscan](https://etherscan.io/address/0x8a97426c1a720a45b8d69e974631f01f1168232b)
- The following accounting letter has been distributed to various accounting firms as a precursor to an evaluation meeting (or prepaid senior accountant meeting): [Juicebox Memo](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/ex/20220916%20DAOLABS-Accounting-Privacy.pdf). In summary, the accounting of funds contributed to JBX via specific routes (i.e. project member protocol fee vs. directly to Juicebox for JBX) may be accounted for differently. The assessment of the type of entity (setting aside the fallacy that no-entity is exempt from laws) types determines the treatment of accounting for the funds currently held in the protocol or multisig. The goal is to understand what methods I may use to account for and compute an estimated tax liability. To that end the following [accountants](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/ex/20220922-DAOLABS-Professional-Services-CPA-Tracker.pdf) have been contacted.
- The goal is compute the liabilities as if Juicebox was legally recognized as a 501(c)3 - Public Good, and thus entitled to prepare a [F990](https://gateway.pinata.cloud/ipfs/QmT9kMS7kfzHnTjXSgZCzfcJMSnTrCB1nqnPoSf1XpKdSj/ex/20220916-DAOLABS-Accounting-Privacy-f990-2.pdf) so that a DAO proposal would be prepared with specificity to minimize conjecture and assumptions. [KelliWorks](https://www.kelliworks.com/about) is interested and we are meeting on September 27, 2022 face to face to discuss.
_Obviously, the above was the combined effort of everyone I work with a DAOLABS, and @filipv for endlessly editing legal docs._
Specification
- Remove the JuiceboxDAO v1 payout to tankbottoms.eth
0x5d95baEBB8412AD827287240A5c281E3bB30d27E
Rationale
- Removing this payout will reduce the amount of funds being paid out from the DAO treasury.
Risks
- This is a large payout.
Timeline
- As soon as the proposal is ratified.