Following the recent Forum Proposal, this statement puts forward Nathan Vandy’s candidacy as a Board Member for the TrueFi DAO Foundation. The statement outlines the motivation, qualifications, contributions, and compensation for the role.
The role of a Board Member holds significant strategic importance for TrueFi DAO. The Foundation is tasked with a very limited set of responsibilities and objectives to help support the continuing decentralization of the protocol, manage off-chain processes, and support the protocol by affecting the on-chain will of the community. In short, the Foundation will operate with a specific set of enumerated powers and all other responsibilities will be left to the DAO members.
The TrueFi Foundation currently operates with a 3-member Board. In order to continue on the path of progressive decentralization, it has been proposed multiple times to increase the number of independent Directors.
As the legal landscape evolves and the scope of our projects widens, it is essential to have a DAO legal expert who can navigate challenges, seize opportunities, and promote the long-term success of the DAO. This candidacy will not only support the Foundation’s legal operations but also contribute to informed decision-making from both business and legal perspectives.
Qualifications & Experience:
The nominated candidate, Nathan Vandy aka @vandynathan, is a highly qualified legal professional with five years of experience in DAO law and policy, blockchain advisory, and governance. He is currently completing his doctorate in Blockchain Law and Governance at Panthéon-Assas University Paris II. Nathan has demonstrated a strong understanding of TrueFi’s objectives and has provided practical, business-minded legal advice. His global network, expertise in legal challenges unique to DAOs, and advocacy for decentralization make him an ideal fit for this role.
In addition to the enumerated powers of the Foundation, as an appointed Board Member, Nathan Vandy will undertake the following key responsibilities:
- Provide proactive legal and governance guidance and insights to mitigate risks and establish sound operational strategies
- Monitor industry disruptions and advise on their potential impact and proactive response
- Integrate new developments into existing strategies and provide guidance on proposals, disputes, and resolutions.
- Support the evolution of TrueFi Governance including initiating a Transparency Report
- Develop a matrix to quantify decentralization metrics within TrueFi DAO
- Periodically review the TrueFi DAO Treasury
- Resume periodic Board meetings with other established Board of Directors
Enumerated Powers of the Foundation:
- Manage off-chain corporate responsibilities
- Contract with DAO-approved service providers
- Act as the initial administrative agent in TrueFi’s decentralized lending architecture to pursue defaults unless DAO members approve an alternative administrative agent
- Maintain a multi-sig to veto governance transactions in the timelock for emergency purposes unless DAO members remove this functionality
The compensation structure for the Board Member role includes two components:
- A monthly retainer of $2,000 for basic responsibilities, covering up to 4 hours of work per week (paid in DAI or TRU from the TrueFi DAO)
- Beyond the basic retainer, additional work and operational duties will be billed at a rate of $200 per hour
A probation period of three months will commence upon the acceptance of the proposal.
Upon appointment, Board Member removal from the Foundation will be executed through governance processes if performance does not align with expectations.