Phase 1
The goal of this phase is to create the community of the DAO by distributing governance tokens (HUB) in exchange for ETH sent to the project on Juicebox. Around 90% of the funds collected through Juicebox will be sent to the DAO’s treasury implemented as a Gnosis Safe multisig wallet with the ENS name hubcitydao.eth. To understand why only around 90% of assets will go to the treasury and not 100% head over to the crowdfunding section for details.
The treasury’s multisig will have three signers and it will require the approval of at least two of them to approve a transaction. Given that the idea is for the DAO’s community to control how those funds are used, no crypto will be moved out of the wallet in this phase by the multisig signers. The multisig is set up only as a way to protect the assets against hacks until the DAO is fully developed and the community can vote on proposals to automatically release funds from the treasury to support HubCity’s projects.
A Discord server is available for community members to interact with HubCity’s core members to get to know them, learn more about the project, receive updates on its activity and to find additional ways to get involved. A Twitter profile has been created to share news about the project with a broader audience and to invite people to join HubCityDAO. Finally, Gitbook is being used to create and host this white paper that you are reading right now.
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