nDAO Bylaws
Last Revised: October 28, 2024
Article I: Name and Purpose
Section 1: Name The name of this decentralized autonomous organization (DAO) shall be nDAO, herein referred to as “nDAO.”
Section 2: Purpose The purpose of nDAO is to govern and manage the ownership, distribution, and governance of non-fungible tokens (NFTs) related to titles, such as digital assets representing titles to real estate, intellectual property, or other forms of ownership.
Article II: Membership
Section 1: Membership Qualifications Membership in nDAO shall be open to any individual or entity holding $UBQT Utility tokens ($UBQT), which serve as governance tokens within nDAO.
Section 2: Rights and Responsibilities Members of nDAO shall have the right to participate in governance decisions, including voting on proposals related to the acquisition, management, and sale of NFTs held by nDAO. Members are responsible for maintaining the security of their $UBQT tokens and participating in nDAO activities in accordance with these bylaws.
Article III: Governance Structure
Section 1: Governance Tokens $UBQT Utility tokens are recognized as governance tokens within nDAO. Each holder of $UBQT represents one vote in nDAO governance decisions.
Section 2: Voting All major governance decisions, including but not limited to the acquisition, management, and sale of NFTs, shall be decided by a majority vote of $UBQT token holders. Voting will take place through on-chain voting mechanisms or other secure and transparent methods approved by the DAO.
Section 3: Voting on $UBQT Liquidity Pools and Grant Proposals In addition to governance decisions regarding NFTs, $UBQT token holders shall also vote on matters related to $UBQT liquidity pools and grant proposals aimed at supporting nDAO’s objectives. Voting procedures shall follow the same principles outlined for other governance decisions.
Article IV: Operations and Management
Section 1: Proposal Submission Any member of nDAO may submit a proposal for consideration by nDAO. Proposals must be submitted in writing and include details of the proposed action, rationale, and any relevant information necessary for members to make an informed decision.
Section 2: Proposal Approval Proposals shall be approved by a majority vote of $UBQT token holders. Approved proposals shall be implemented by nDAO’s designated operators or smart contracts, as applicable.
Section 3: Operator Roles The Chairman of nDAO may appoint individuals or entities as operators responsible for executing approved proposals and managing day-to-day operations of nDAO, subject to oversight by the membership.
Article V: Amendments
Section 1: Amendment Procedure These bylaws may be amended by a two-thirds majority vote of $UBQT token holders. Proposed amendments must be submitted in writing and distributed to all members at least seven days prior to the vote.
Section 2: Adoption Upon adoption, amendments to these bylaws shall take effect immediately unless otherwise specified in the amendment proposal.
Article VI: Dissolution
Section 1: Dissolution Procedure nDAO may be dissolved by a vote of a two-thirds majority of $UBQT token holders. In the event of dissolution, assets held by nDAO shall be distributed to members in proportion to their holdings of $UBQT tokens, unless otherwise specified in the dissolution proposal.
Section 2: Liquidation Following dissolution, nDAO shall liquidate its assets in an orderly manner and settle all outstanding obligations before distributing remaining assets to members.
Article VII: General Provisions
Section 1: Governing Law These bylaws shall be governed by and construed in accordance with the laws of Wyoming, United States of America, without regard to its conflict of law principles.
Section 2: Severability If any provision of these bylaws is determined to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
Section 3: Interpretation These bylaws shall be interpreted in a manner consistent with the decentralized and autonomous nature of nDAO, with decisions made by members and implemented by smart contracts or designated operators as per the governance structure outlined herein.
Section 4: Adoption These bylaws are pending adopted by a vote of the initial members of nDAO, and shall take effect immediately upon adoption.
Section 5: Amendments These bylaws may be amended as provided in Article V, with amendments taking effect upon adoption by a two-thirds majority vote of $UBQT token holders.
Section 6: Ratification These bylaws are pending ratification by the initial members of nDAO, and all subsequent members shall be bound by these bylaws upon acceptance of nDAO tokens.
Nathan Wosnack Chairman, nDAO
MJ Phillips Co-Chairman, nDAO
These amended bylaws encompass the governance of nDAO, detailing membership, voting procedures, operations, and dissolution protocols, including specific provisions for voting on $UBQT liquidity pools and grant proposals.
nDAO Bylaws
Article I: Name and Purpose
Section 1: Name The name of this decentralized autonomous organization (DAO) shall be nDAO, herein referred to as “nDAO.”
Section 2: Purpose The purpose of nDAO is to govern and manage the ownership, distribution, and governance of non-fungible tokens (NFTs) related to titles, such as digital assets representing titles to real estate, intellectual property, or other forms of ownership.
Article II: Membership
Section 1: Membership Qualifications Membership in nDAO shall be open to any individual or entity holding $UBQT Utility tokens ($UBQT), which serve as governance tokens within nDAO.
Section 2: Rights and Responsibilities Members of nDAO shall have the right to participate in governance decisions, including voting on proposals related to the acquisition, management, and sale of NFTs held by nDAO. Members are responsible for maintaining the security of their $UBQT tokens and participating in nDAO activities in accordance with these bylaws.
Article III: Governance Structure
Section 1: Governance Tokens $UBQT Utility tokens are recognized as governance tokens within nDAO. Each holder of $UBQT represents one vote in nDAO governance decisions.
Section 2: Voting All major governance decisions, including but not limited to the acquisition, management, and sale of NFTs, shall be decided by a majority vote of $UBQT token holders. Voting will take place through on-chain voting mechanisms or other secure and transparent methods approved by nDAO.
Section 3: Voting on $UBQT Liquidity Pools and Grant Proposals In addition to governance decisions regarding NFTs, $UBQT token holders shall also vote on matters related to $UBQT liquidity pools and grant proposals aimed at supporting nDAO’s objectives. Voting procedures shall follow the same principles outlined for other governance decisions.
Article IV: Operations and Management
Section 1: Proposal Submission Any member of nDAO may submit a proposal for consideration by nDAO. Proposals must be submitted in writing and include details of the proposed action, rationale, and any relevant information necessary for members to make an informed decision.
Section 2: Proposal Approval Proposals shall be approved by a majority vote of $UBQT token holders. Approved proposals shall be implemented by nDAO’s designated operators or smart contracts, as applicable.
Section 3: Operator Roles The Chairman and Co-Chairman of nDAO may appoint individuals or entities as operators responsible for executing approved proposals and managing day-to-day operations of nDAO, subject to oversight by the membership.
Article V: Amendments
Section 1: Amendment Procedure These bylaws may be amended by a two-thirds majority vote of $UBQT token holders. Proposed amendments must be submitted in writing and distributed to all members at least seven days prior to the vote.
Section 2: Adoption Upon adoption, amendments to these bylaws shall take effect immediately unless otherwise specified in the amendment proposal.
Article VI: Dissolution
Section 1: Dissolution Procedure nDAO may be dissolved by a vote of a two-thirds majority of $UBQT token holders. In the event of dissolution, assets held by nDAO shall be distributed to members in proportion to their holdings of $UBQT tokens, unless otherwise specified in the dissolution proposal.
Section 2: Liquidation Following dissolution, nDAO shall liquidate its assets in an orderly manner and settle all outstanding obligations before distributing remaining assets to members.
Article VII: General Provisions
Section 1: Governing Law These bylaws shall be governed by and construed in accordance with the laws of Wyoming, United States of America, without regard to its conflict of law principles.
Section 2: Severability If any provision of these bylaws is determined to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
Section 3: Interpretation These bylaws shall be interpreted in a manner consistent with the decentralized and autonomous nature of nDAO, with decisions made by members and implemented by smart contracts or designated operators as per the governance structure outlined herein.
Section 4: Adoption These bylaws are pending adopted by a vote of the initial members of nDAO, and shall take effect immediately upon adoption.
Section 5: Amendments These bylaws may be amended as provided in Article V, with amendments taking effect upon adoption by a two-thirds majority vote of $UBQT token holders.
Section 6: Ratification These bylaws are pending ratification by the initial members of nDAO, and all subsequent members shall be bound by these bylaws upon acceptance of nDAO tokens.
- Nathan Wosnack Chairman, nDAO
- MJ Phillips, Co-Chairman, nDAO
These amended bylaws encompass the governance of nDAO, detailing membership, voting procedures, operations, and dissolution protocols, including specific provisions for voting on $UBQT liquidity pools and grant proposals.
