Treasury & Legal ⌐Ξ-Ξ
We will foster initiatives through open proposals, make decisions using token and reputation-weighted voting rights, and onboard new members collectively and transparently. We are creating an open network of users, developers, and investors, and will engineer a compliant token system that will serve them all by giving them a voice and a share of the value they contribute to creating. A token-permissioned DAO is a type of restricted access online community that requires the holding of a certain amount of DAO tokens in order to be part of it, or else they will be booted from the community by a bot on Discord. The principal innovation of crypto networks is their ability to grow network effects by enabling users to share in the value they create. With each new user or product, the Dao becomes more valuable to each individual user, generating a network effect. We have the unique opportunity to redistribute that value directly to the users who generate it. Designed correctly, effective distribution of a fee stream can further entrench network effects by giving our users a direct economic incentive to contribute, generating more defensibility, which in turn, reinforces the viability of the fee stream in the first place. As founders and VCs transition from fiat to crypto, daos, tokens and nfts replace companies, shares and ip.
Update: Recent price action has brought difficult times for everyone in the Web3 space. Many projects are building their plans to weather the storm and LiveTheLifeTV is no exception. We are exercising careful due diligence with our expenses. We aim to continue producing high-impact deliverables such as strategic partnerships. Art has existed for over 45k years… And it has been one of the most prosperous asset classes in recent times. This crypto crash isn’t changing that.
LiveTheLifeTV / GVO is a membership community comprising both digital and offline benefits for members. It is important to note that we're not a currency or crypto project. We are a membership community that leverages a token as proof of membership.
Compensation is not employment. Members will be rewarded based on contribution for each allocation period as independent contractors. For example, that means members are responsible for paying their own insurance, taxes, and vacation. Core Team has equity through FAIRMINT.
Project Stewards perform a light assessment of team member contributions at mid-month and a full assessment at the end of the month.
LiveTheLifeTV does not provide any tax, rebate, or fiat associations. Every individual is advised to take their own legal, regulatory, and fiscal decisions.
Any project aspiring to be a long-term success needs a tax and legal foundation. They need to understand their obligations and set up the project with the ultimate goal of protecting the community, by protecting the collection. We will continue to be as transparent as possible with our legal and tax structures, giving confidence to you (the community) that we're on top of it. Let's face it, regulation is coming to crypto and the NFT space, and we as a project need to be prepared for an audit. The lack of preparation will be the reason a lot of projects fail in 2022 and beyond. A lot of projects have the risk of being deemed a security, and it's only a matter of time until action is taken. Be careful.
We aim to stay nimble with contributor count, acting heavily in favor of full-time core contributors in contrast to large working groups of part-time members. Community contributors will be leveraged via paid bounties and grants with clear outcomes.
The next-gen NFT will include earned and soul bound tokens that can’t be bought
1) Execution risk - this is the primary risk - I would recommend narrowing our overall business focus (break it down to its base layer and build a working business model off of that) then layer in all the narrative (vibe, communities, people, story, etc.)
2) Capital Risk - I think a viable business model goes a long way to solving this problem. We could argue we could try and bootstrap off private and/or seed investment rather than doing an actual public launch. Then we could layer in Membership (i.e., use / vibe / community) through NFTs; allowing the team/seed to basically "market" make. I think either could work, ultimately. We could market make the vision and have Olympus serve as your on chain market making partner.
3) Blockchain Risk - Application layer. We need a viable business model that is INDEPENDENT from the overall crypto-market ebb and flow.
4) Community / Implementation / Governance Risk - I think we would need to seriously think through all aspects of Membership - use - management - etc. Lots of cutting-edge problems and issues to think through in terms of real-world implementation and coordination.
5) Non-Digital/Crypto Native Risk - LiveTheLifeTV is going to need to interact with non-crypto communities thus we absolutely need some type of legal entity to interact with the real world.
Nothing herein, nor any related documentation issued by the Project team, shall constitute legal, tax, or investment advice. Please make sure to do your own due diligence regarding the GVO protocol and the risk involved in providing liquidity. GVO naturally has no control over the GVO protocol and cannot be held accountable for any potential losses of any kind. This document does not constitute legal, financial, or other advice and is not intended to be relied upon or used by any person for any purpose, other than informational and educational purposes. No attorney-client relationship or privilege is intended to be created or implied. No representation or warranty is being made as to the quality or fitness for any purpose of this document. Furthermore, this document is not recommended for use, but only for research.
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