Fluid DAO is considering a proposal to transfer all of the DeFi platform’s intellectual property into a Cayman Islands foundation, and to approve a $250,000 monthly grant to fund development and operations.
The proposal was submitted on Monday, Feb. 23, by DMH, the COO of Instadapp, the firm behind Fluid. It calls for the creation of the Fluid Foundation governed by DAO votes, a familiar corporate setup for crypto organizations.
Under the plan, “all Fluid Protocol smart contract code,” front-end interfaces, domains, trademarks and related assets would be transferred to the foundation. Once completed, the assets would “belong to the Foundation — not to any individual, company, or labs entity,” DMH wrote.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
