Proceeds from Investments

Should Kings' Azit DAO members expect to receive any profit by contributing to Kings' Azit DAO?

Investments contemplated by Kings' Azit DAO are inherently speculative and are made by Kings' Azit DAO members or their express designees and agents. The results of Kings' Azit DAO's investments will likely vary from period to period, and investments made by Kings' Azit DAO will involve a high degree of financial and market risk that can result in a complete loss of any member's contribution to Kings' Azit DAO.

If I'm a member of Kings' Azit DAO, what interest do I receive in any projects that receive financing from Kings' Azit DAO?

Kings' Azit DAO will be the record holder of all securities and/or any other rights secured via Kings' Azit DAO-related investments. Members, acting via a majority vote, will have the right to determine the amount, timing, and form of all distributions related to proceeds from those investments.

How will proceeds be distributed?

Members will receive proceeds, if any, on a pro-rata basis based on the number of Kings Units each member holds.

If a member rage quits, the member will be entitled to receive proceeds from any investments made by Kings' Azit DAO prior to the member's withdrawal of capital to the extent permitted by law or the terms of an investment (e.g., if Kings' Azit DAO makes an investment in securities with transfer restrictions, Kings' Azit DAO itself will be the record holder until those restrictions lift). However, the member will not be entitled to distribution with respect to any investments made by Kings' Azit DAO after the date the member quits Kings' Azit DAO.

Please note, that prior to proceed distribution, members must provide a copy of the applicable Form W-9 or Form W-8, when requested by the service provider.

Will proceeds be paid in USDC, Ether, Dai, or cash?

Members have the right to determine how proceeds will be paid.

Can Kings' Azit DAO recycle or reinvest proceeds?

Members acting by a majority vote may reinvest or retain for investment any proceeds to effect Kings' Azit DAO investments, pay expenses (outlined here or otherwise provided for in Kings' Azit DAO's Operating Agreement), or create reserves.

If a member votes against a proposed deal, but does not “rage quit,” will he or she still benefit from possible future profits? In other words, are all projects’ possible future returns shared equally amongst the members?

Yes, the member would benefit from the future profits even if the member voted against the investment.  In effect, you're agreeing to the will of the voting members and if you don't like the decision you have the right to rage quit all or part of your undeployed USDC.