cobogoDAO is member-managed and does not have any general partner. cobogoDAO will rely on a service provider to facilitate various administrative functions on behalf of the members, including:
preparing and sending annual financial reports;
validating information related to partnerships;
due diligence of projects selected for investments;
executing the proposals approved by members;
administration of tools.
From the legal perspective, the service provider is the company nominated as the director of the foundation.
cobogoDAO and its members are responsible for the costs and expenses related to all activities, operations, and maintenance, as detailed in the operating agreement. It includes paying the fees for the service provider.
As compensation for the services provided, the service provider will initially charge the following fees.
All fees are payable on a quarterly basis to the service provider from the time cobogoDAO launches. Members can propose and vote to change the service provider at any time.