TLDR; Outlines relationship between the DAO, the Badger Association, and it’s governing Legal body the Badger Consortium
BadgerDAO is governed by token holders
BadgerDAO controls the treasury, per the Treasury Management Policy
BadgerDAO is the principal and the Association is a supporting agent, they are independent, separate bodies of one another
The Association is financed by the treasury and thus by BadgerDAO
The Association is controlled by the Badger Consortium
THE BADGER CONSORTIUM
Dear Valued Badger DAO Community,
In the spirit of transparency and shared governance, we find it crucial to update you on recent developments. Following extensive discussions with DAO members and service providers, it became evident that an oversight entity was needed to ensure the Association was monitored and the DAO’s best interests were prioritized. The Association, formed without the knowledge of the DAO, requires a vigilant guardian, this has lead to the establishment of the Badger Consortium.
The Badger Consortium, a legally registered Bahamian entity, has emerged as the last true hope for DAO transparency and protection. Comprising a two-member delegation with substantial experience in both decentralized finance (DeFi) and real-world business, the Consortium is dedicated to safeguarding the DAO’s well-being.
Now, addressing the question of why details about the Consortium were not initially disclosed - the decision was intentional. The Consortium holds controlling power over the Association’s decisions, and the deliberate choice not to disclose certain information was made to ensure its unimpeded ability to protect the DAO.
While you may not have insight into the members of the Consortium or its pay structure, rest assured that its formation is rooted in the singular goal of safeguarding the DAO. You may not know the Consortium, but the Consortium knows you. Soft rugs are not possible with the Consortium in place. Things that need to be shipped will be shipped. The veil will be pulled back & the DAO will be a DAO again.
Looking ahead, we understand the importance of community involvement. While the Consortium is not open to direct election at this time, our immediate action plan involves running a vote for new members of the Association. This initiative aims to expand the board seats from 3 to 7, promoting increased representation and diversity within the decision-making processes of the Association.
We appreciate your continued support and engagement as we navigate these critical steps toward ensuring the transparency, security, and prosperity of our DAO. We are waiting, we are always watching, we are the Badger Consortium.
Sincerely,
The Badger Consortium