- Voting rights
When will the snapshot happen?
The snapshot dates have not yet been decided, we envision to launch our members portal in Q3 2022 where you will be able to receive more information about the snapshots, how to claim your profits etc.
How are profits re-distributed?
Profits will be re-distributed to all holders of our NFT in accordance with their total number of NFTs held at the time of our snapshots.
What kind of returns can I expect on the token I hold?
Arts DAO is looking to make investments across a wide range and diversified portfolio. We are also hedging our bets by investing into projects rather than holding all our portfolio in certain NFTs. This way we are profitable even if there is a bear market as our accelerator/seed investments will charge a percentage on the mint of the projects hosted. Arts DAO aims to outperform the performance of a basket of blue-chip NFT projects and the NFT market as a whole.
In what type of projects will Arts DAO invest into?
We will buy a number of blue-chip NFTs, we will also allocate funds to high-alpha opportunities and we will be allocating funds into early/seed stage NFT projects that are looking for acceleration support where we will contribute both (in some cases) funds as well as all our launchpad services such as marketing and blockchain development.
Can I purchase Arts DAO tokens with Bitcoin or other crypto currencies?
Purchases are currently only limited to Ether (Eth) as all our tokens will be minted on the Ethereum blockchain using an ERC 721-A token protocol standard.
Is Arts DAO Non-fungible tokens securities?
Non-fungible tokens have not been classified by the U.S. Securities and Exchange Commission or any other state securities commission in the United States, or any other global regulatory authority to be a security
How do I create a wallet and invest?
To buy any NFT the easiest way is to create a Metamask wallet or any other wallet which you can connect to your browser. Metamask is the most common wallet to purchase NFTs and you can install it on www.metamask.io, once you have installed the browser plugin and saved your seed phrase (do not share with anyone at any point, we will never ask for this) you can then transfer Ether to your Metamask wallet address. You can find the address in your Metamask account inside of the wallet. And this is the address which you have to input from your exchange where you are transferring your Ether from. You can find a guide on this on this video: https://www.youtube.com/watch?v=Sc8J98m6SZE
How can I buy the Arts DAO tokens and become a member?
Arts DAO intends to in the initial stage only launch 2000 tokens. Each token represent 1 unit of ownership in all the underlying investment instruments (primarily NFTs and seed stage investments) invested into by Arts DAO.
Members can contribute Ether to Arts Dao by buying one or more of the Ethernal Gates tokens released. Each NFT represents 1/2000 = 0.05% of the total investment pool and voting right.
The DAO reserves 20% of the capital raised to cover operating expenditure. 80% of the total funds raised will be deployed in accordance with investment decisions voted on by the JEDI council.
What are the tax implications of buying the Arts Dao non-fungible tokens?
Each member of Arts Dao must rely on its own tax and legal representatives for advice which pertains to the tax-residency of that individual as the tax implication is not linked to Arts Dao but rather in which country you are considered a tax-resident.
Can members change the operating structure of Arts Dao?
To the extent where the changes will not have a material impact to the function and operations of Arts Dao the members will not be able to change the operating structure.
Votes can however be made to propose changes in the Jedi Council and these will be executed if 50% or more of the members or their equivalent representation in the Jedi Council vote for it.
Are members liable for anything?
No member will be liable for the obligations of Arts Dao in excess of the value of the non-fungible tokens procured plus;
- The Member’s share of the undistributed profits of Arts Dao, if any; and
- Any amounts distributed by Arts Dao to such member.
Is Arts DAO a DAO?
We envision to become a fully decentralized DAO and until then we will operate in the spirit of a DAO by enabling members of the community to vote on key decisions.
How is Arts Dao structured?
Arts Dao is structured as a limited liability company registered in the Dubai Multi Commodity Centre (DMCC) free zone under the name AD NFT DMCC which will act as a management and operations company.
Arts DAO also has a foundation which will be legally structured in Marshall Islands where the DAO will be incorporated.
At its core, Arts Dao intends to govern decision-making through smart contracts and DApps facilitating purchases into NFTs and decisions taken by the community.
How did you come up with the name Ethernal Gates?
Ethernal Gates is a play on words where Eternal And Ether (ETH) has merged into the word Ethernal which from a quick google search yields the following response “Symbiotic exchange within an alike minded group or individuals. A valuable connection.” Which perfectly describes the Arts DAO community and what we truly are. The Gates have been beautifully crafted by our Artist Kristel Bechara which represents the Gates to the community and all that the Metaverse holds in store.
Is this FAQ permanent and final?
As we are aspiring to become a fully-fledged DAO we inevitably always listen to our community and members for suggestions and improvements hence there could be parts of this FAQ that could change over time if the community votes for or against it.
How will the funds in the treasury be allocated?
We will have a balanced portfolio allocation which currently will look like this:
- 34% Will be Seed Investments and LP Funds
- 30% Will be Blue Chip Collections
- 30% Will be Bear Market Reserves
- 6% Will be allocated for Opportunity Trades
These numbers reflect the current DAO goals and is only an approximation. Actual values will fluctuate and vary based on market conditions and opportunities as well as the DAO’s future direction and Jedi Council.
Can a member cancel or re-delegate their voting rights?
Yes a member can, at any time cancel their voting rights however re-delegation is currently not possible due to the fact that the NFT has to be in your wallet to be able to vote.
Does delegating the voting rights impact the member’s right to proceeds?
How do members vote?
Voting mechanism will be decided after the Drop. It will either be done through a dApp where all voting is done on-chain. Votes will be delegated to the Jedi Council which consists of 10-15 members of the community which have been hand-picked based on their experience and knowledge in the space to make decisions on behalf of the members. Each member is requested to delegate their voting right to any one of these Council members. There will however be decisions where all members will be able to directly vote and affect the outcome of the proposal.
How are voting rights determined?
Voting rights will be based on the total number of Ethernal Gates tokens each Member holds for any relevant vote posed to Members.
Where can I find the Whitepaper?
Check out this link – https://artsdao.notion.site/Whitepaper-d026b5f45632439893d3bebf258ebefa