Pilot Phase: M&A for Arbitrum DAO

[Bernard]

Hi @cp0x, thanks for taking the time to digest and pointing this out.

Being mindful that it’s not straightforward, there are two proposals online: this one, which will soon be put up for a vote, and the core M&A proposal, which will be addressed after the pilot.

The legal details are included in the core M&A proposal here.

For ease of access, here’s the excerpt clarifying the latest state:

@Bernard

• Legal set-up: There are several initiatives, all preceding the GCP initiative led by @Djinn, that requires similar entity structures to address key questions around the equity ownership of assets. To prevent overlaps, we have been working closely with these initiatives from the start. The foundation has also laid the groundwork for a legally feasible setup that takes our initiative into account, which will now be tested via the GCP. This will allow us to build on the existing entity work and saves us from undertaking our own full-fledged legal sprint, thereby removing this from the proposal (where we initially had optionality).
• Dedicated M&A legal support: For M&A-specific considerations that are not immediately relevant for another initiatives, we plan to work together with a specialized legal party.

@Bernard

• Equity entity: Amended the proposal to implement an intermediary body between the DAO and the fund to prevent the DAO from turning into an investment fund.

TL;DR: The major initial legal obstacles are now out of the way. Detailed M&A-specific considerations will follow in the next phase.

Let me know if that makes sense, or if you have further questions. And thanks again for reviewing!