Kings' Azit DAO - DOCS

# Projects

# How do projects get funded?

Once a funding proposal is submitted for your project, the proposal will be submitted to Kings' Azit DAO members to decide whether to nominate your project for funding.

If your funding proposal is nominated, Kings' Azit DAO members will then vote on whether the project will receive financing from Kings' Azit DAO. If approved by a majority quorum of Kings' Azit DAO Members, the project will then receive financing in the form of a convertible note. All project financing will be allocated to Kings projects in the form of the cryptocurrency ether. Investment amounts have ranged from $50,000-$250,000 (settled primarily in ether).

# How does my project receive funding from Kings' Azit DAO?

Potential Kings projects are asked to apply through an application process that includes the following materials:

  • Project name and contact information

  • Project description

  • Existing investors

  • Incorporation information (including Articles of Incorporation)

  • Project smart contract address

Once your application is submitted, Kings' Azit DAO members will have the option to nominate a project to receive financing from Kings' Azit DAO. If more than 50% of Kings' Azit DAO members approve a funding proposal, the project will receive financing.

# Do I need to have a blockchain-based product to submit an application?

For the first Kings, our ambition is to create a fund for projects in projects initiated by the Kings community. Kings' Azit DAO members will set forth an investment plan for the type of investments that they wish to finance in Kings' Azit DAO. Feel free to submit a proposal for anything in that realm, whether it be a protocol, dApp, or other project. All are welcome.

# What entity type should be created for my project in order to submit a funding proposal?

We ask that projects who wish to submit a proposal be an entity registered in a U.S. jurisdiction. OpenLaw has some basic incorporation documents (see here (opens new window)). Kings' Azit DAO members may, however, elect to invest in Kings projects organized outside the US.

Please seek legal counsel regarding any incorporation documents or questions on entity choice.

# How much of my project (in terms of equity) will be transferred to the members of Kings' Azit DAO?

Kings' Azit DAO members will have the opportunity to vote on the amount of financing that is provided to approved projects and Kings' Azit DAO's service provider works with the project to settle the investment.

# After a potential Kings project submits an application, can the project change the information that was submitted?

Yes! If a project wishes to change any information that was submitted during the application process, it can do so by contacting us at hello@kingsaz.it.

# How does a project withdraw from Kings' Azit DAO?

During the voting period (prior to being sponsored by a Kings member) potential Kings projects will have the ability to withdraw their funding proposal from Kings' Azit DAO.

Through a smart contract cancelProposal function, potential Kings projects are able to remove their application from consideration for funding from Kings' Azit DAO.

# Who can view information included in project funding proposals?

Kings' Azit DAO project proposals can be set to be private. Project proposals including all materials that are submitted to Kings' Azit DAO are restricted to applicants who submitted a funding proposal and members of Kings' Azit DAO.

Should potential projects have additional questions regarding privacy concerns, please email us at hello@kingsaz.it.

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