Hairdao Association

“The directors of the organization serve as officers in a related corporation. All agreements and contracts executed between the two entities are done at arms length, negotiated to fair market value, and subject to the unilateral approval of the organizations voting members.”

“All of the DAOs governing Members shall have their membership and related rights determined upon receipt of voting tokens or similar units secured on Ethereum or as otherwise adopted by the Members. Members rights and responsibilities are controlled by the use of the Designated Smart Contact used to conduct the governance and activities of the DAO. Members will cast votes and carry out the decisions made on the Designated Smart Contract.”

“Once the DAO admission requirements are met a prospective Member may be put up to a vote of the full membership or similar process enabled by the Designated Smart Contract. The DAO will consistently review, and if necessary, Members may make adjustments to the DAO admission requirements based on their evolving needs and as registered by Cryptographic Consensus.”

“The Members shall utilize the Designated Smart Contract as the exclusive method of holding and allocating rights and obligations among the Members, and spending, or otherwise distributing any tokens that are DAO Property, of minting and issuing DAO Membership Tokens and holding and recording votes among the Members. All powers to be exercised on behalf of the DAO shall be exercised by or under the authority of Members (or such agents or designees approved by Members) as approved through Cryptographic Consensus.”

“The prepared 990 tax form was presented to the dao and reviewed by its directors and approved for filing by the daos members.”

“A conflict of interest arises when a person in a position of authority over the organization may benefit personally, directly or indirectly, from a transaction or arrangement involving the organization. Any actual or potential conflict must be disclosed to the board. The interested person may present information but must abstain from voting or influencing the decision. Transactions must be at arms length and for fair market value.”

“No part of the net assets or earnings of the DAO shall inure to the benefit of or be distributable to its Directors, Officers, or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the exempt purposes. Basis for such decisions is documented in the minutes and compared with comparable market data for similar organizations and roles.”

“No part of the net assets or earnings of the DAO shall inure to the benefit of or be distributable to its Directors, Officers, or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the exempt purposes. Basis for such decisions is documented in the minutes and compared with comparable market data for similar organizations and roles.”

“Governing documents of the DAO, including its articles of incorporation and bylaws, are available to the public upon request. Requests can be made by contacting the organization via email at verbinnenhairdao.xyz.”