Weekly Update: Altr Decentralised Autonomous Association
This week we have a legal update:
As mentioned in our Q4 update, the team has established a legal framework for the Altr platform. With the support of MME Legal, a Decentralized Autonomous Association (DAA) was officially created and domiciled in Switzerland on December 19th, 2022.
The purpose of the Association is to build bridges between blockchain ecosystems and the physical world, promote the awareness of the LUCIDAO community, and allow the Altr platform to operate as a decentralised and self-governed entity.
The DAA is governed by two bodies: the Board of Directors and the General Assembly. The Board is the executive body of the Association that has the right and obligation to manage the current affairs of the Association. The Board comprises of a minimum of three board members with the following positions: President of the Board, Secretary, Treasurer. It is to be noted that Board Members are acting on a pro-bono basis.
The General Assembly is composed of both Active and Passive members. Passive members receive communications about the DAA and the Altr platform, and can participate in the General Assembly, though they do not have voting rights; their yearly membership fee amounts to 50 USDT.
Active members, on the other hand, are granted one voting right on matters discussed during the General Assembly, usually taking place once a year; their yearly membership fee amounts to 1000 USDT.
The membership fees will be directed towards the operational expenses of the DAA, such as auditors, legal support, potential suppliers, etc. Membership applications can be submitted to the Board, and applicants must provide their full name, email address, and address or domicile.
We look forward to welcoming new members to the DAA and working together on supporting the Altr platform and building bridges between blockchain ecosystems and the physical world. If you are interested in becoming a member, please email us at applyaltrassociation@gmail.com.
Meanwhile, we are optimizing the UX/UI based on learnings from the successful soft launch in preparation for the full launch. Here more about that here.
To keep up to date with all development, make sure you follow our socials: https://linktr.ee/Lucidao
