SPS Governance Proposal - Establish a Legal Fund

Intro and General Update

The purpose of this proposal is to apportion some of the SPS DAO's holding to facilitate the execution of the previous proposal to establish an SPS Foundation. After the initial exploratory phase of that proposal Hive account@davemccoy and I believe that the work needed to execute that proposal can be accomplished with a budget of $25,000. To be clear, this proposal is meant to establish a budget to negotiate with and not dictate a price for the services.

What will this budget be used for?

• Retainer for general council.
• Incorporation fees for the foundation.
• Miscellaneous legal services and fees related to establishing and operating the foundation which vary depending on the final jurisdiction chosen.

The current course of action is to formalize the plans for establishing the SPS Foundation under the guidance of the general council. Dave and I have spoken to firms familiar with blockchain and cryptocurrency as well as DAO governance models and have a pretty solid idea of how to proceed, but it's definitely best to do so with proper legal guidance.

Proposal

If this proposal passes, the SPS DAO Treasurers are authorized to spend up to $25,000 USDC tokens on the Ethereum blockchain to be used in the pursuit of establishing the SPS Foundation. Our current Chairman Dave McCoy will provide invoices to the SPS Treasurers and DAO Project Manager to facilitate payments when needed.