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About Flamingo DAO

Flamingo is an NFT-focused DAO that aims to explore emerging investment opportunities for ownable, blockchain-based assets.NFTs are not just cat pictures. They encompass digital art, collectibles, and in-game assets and other tangible assets.

These new forms of digital property are poised to play an increasing role in helping to create, monetize, and incentivize online digital content.NFTs are not interchangeable, and they thus introduce a new form of scarcity in the digital world. They can represent digital or real-world assets, providing verifiable proof of authenticity and ownership (assuming they are created by the original author or owner) using a blockchain network. Blockchain developers began introducing NFTs as early as 2016, with projects like Age of Chains and Rare Pepes using Bitcoin to create blockchain trading cards. These early experiments morphed into larger projects during the halcyon days of 2017 to2018, with the launch of Cryptokitties. Seemingly overnight, Crytpokitties took the Ethereum ecosystem by storm, generating tens of thousands of transactions and clogging the network as users traded lovable cats with one another.

While interest in Cryptokitties may have waned in recent years, the mechanics and growth of NFTs has not. Next-generation NFT platforms and marketplaces are incentivizing a new generation of creators to digitize artwork, digital land, and in-game items. Recently, we've seen the emergence of next-generation NFTs and platforms, expanding into digital art, land purchasing, and we're beginning to see NFTs intersect with trends in DecentralizedFinance ("DeFi").

The growth of NFTs is just beginning, because NFTs represents the digitization and financialization of digital property and intellectual property. Trillions of creative works swirl around theInternet and are difficult to monetize, except through licensing models. NFTs hold out the hope of bringing back the Internet and ownership economy. Creators can create, sell, and fractionalize ownership in their works, opening up a new chapter for creative endeavors.

NFTs can be:

• Fractionalized
• Combined into token sets
• Used as collateral for lending and stable coin protocols

Over the longer arc, NFTs hold out the hope of becoming increasingly financialized, interacting with other core blockchain-based financial primitives. They may prove to be a core primitive for decentralized identity solutions, and may increasingly serve as a cornerstone for monetizing emerging metaverses and other gaming platforms.

Flamingo aims to develop a strong foothold in this emerging ecosystem, bringing together the "hive mind" of a DAO to the world of NFTs. Flamingo will give its Members the ability to develop and deploy NFT-focused investment strategies. Purchasing NFTs with Ether or some other base digital assets pursuant to the terms outlined in these FAQs.Once purchased, Flamingo could evolve in a number of different directions. Members will have the right and ability to factionalize their NFT holdings. Any purchased NFTs can be lent, held, displayed in a digital art gallery, or used as collateral in other DeFi platforms. The direction is up to the Members

Number of members

Flamingo is for-profit (not grant giving) and space is limited. Flamingo will have up to 99 initial members, who will pool their capital to make investments. Each member can purchase 1% blocks of Flamingo units for 330 ETH (up to 9% for 2970 ETH).

Collaboration between members

Flamingo is entirely member-directed and managed by the Members through democratic voting. As a Member, you should have some experience in evaluating or purchasing digital assets.To preserve privacy and to prevent front running, and unless otherwise agreed, Members will periodically agree to allocate a portion of Flamingo's assets into a side-pocket (i.e., 20% ofFlamingo's assets) initially maintained by Flamingo's ServiceProvider with the aim of having it managed in-part by the members. Once set aside, Members can propose to other members the purchase of one or more NFTs. If a proposal passes(as outlined below), the Members themselves or the ServiceProvider will take steps to acquire the assets at issue.

Timeline

2020/9/23 Wrapper Launch

2020/9/25-2020/10/5 Mint Rush 1 & 2. Vault Phase 1: NEO + Crosschain Asset Staking

2020/10/5 Swap Launch. Vault Phase 2: LP Token Staking

2020/12/1 Vote Launch

2021/1/8-2021/1/22 Perp Trading Competition

2021/1/28 FIP#2: Flamingo Asset Flow Redesign

2021/3/3 Launch of Redesigned Asset Flow, Asset Migration

How to become a member

Membership in Flamingo is currently limited to accredited investors, as defined under U.S. law. The total number of members will be capped at a maximum of 100 members. To contribute Ether to Flamingo, Members will need to go through accredited investor, anti-money laundering ("AML"), Know Your Customer ("KYC"), and Office of Foreign AssetsControl ("OFAC") checks as defined under U.S. law and as discussed further below.

A joining Member will need to deposit a sufficient amount of Ether from the Member's Ethereum address in order to complete the membership process.A Member will also need to submit sufficient information to verify the potential member's identity for AML, KYC, and OFAC checks, including: uploading a passport or a state issued license; providing a social security number or Tax ID; and providing proof of the member's primary residence.

Quitting

Flamingo has certain strong rights for members to withdraw their capital if they are unhappy with the performance or administration of Flamingo. This right—often called "rage quitting"—gives members a degree of control as to their participation in Flamingo and the use of any contributed capital.

Even though Flamingo is member-directed and managed, Members are not obligated to participate in any proposed purchase. Once a purchase is authorized via the dApp, all members will have the right to opt-out of the purchase and receive any undeployed capital that they contributed to Flamingo back (i.e., "rage quit").

The right to rage quit is accounted for in the operating agreement and facilitated via the DApp and underlying smart contracts.

If a member rage quits, the member's pro rata portion of any unallocated capital contribution will be returned to the member. The member's Flamingo Units are retired (i.e., "burned") and the member loses any right to participate in future purchase. If a member wants to sell their interest in Flamingo, it is permissible, but subject to approval by other members.

Governance

Voting rights are based on the total number of Flamingo Units that each Member holds for any relevant vote posed to Members.

Members are prompted to vote via Flamingo DApp (or, over time, other online services) at various points during the lifecycle of Flamingo, including to evaluate purchase decisions, weigh-in on the structure and form of Flamingo, and/or other strategic decisions related to Flamingo.

Voting are be facilitated by blockchain-based smart contracts and via the DApp based on ownership records maintained on the Ethereum blockchain.

Members are not required to vote on all matters. At any point in time, a Member can transfer or "delegate" the member's right to vote on purchase decisions by designating via the DApp an Ethereum address for which such right is delegated to. Decisions to delegate any voting rights are entirely up to each Member.

References

https://docs.flamingodao.xyz/Membership.html#how-can-i-contribute-to-flamingo-andbecome-a-member

https://docs.flamingodao.xyzhttps://docs.flamingodao.xyz/investments.html