SwarthyHatter on Farcaster

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https://warpcast.com/~/channel/citynouns

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Exit Prop to go live <12hrs [1/8]: Introduction City Nouns Cohort Exit Proposal 🟧 We’re sharing our full exit proposal here in this thread so everyone can read it clearly, section by section. This proposal offers a structured, fair exit for early contributors whose vision no longer aligns with City Nouns.

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[2/8] Principled Exit It acknowledges early risk and contribution while reducing governance centralization risk. We believe this approach ensures fairness for early contributors

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[3/8] Key Terms ✅ Key Terms of the Exit Proposal: • Flat Buyback Price: 0.033 ETH per token • Total Tokens: 17 • Subtotal for Tokens: 17 × 0.033 ETH = 0.561 ETH 📋 Participating Tokens: #4, #5, #6, #7, #11, #15, #16, #24, #28, #33, #45, #47, #51, #53, #54, #57, #62

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[4/8] Expense Breakdown 📋 Expense Breakdown: • 17 Tokens @ 0.033 ETH each: 0.561 ETH • citynouns.eth Domain Transfer: 0.01 ETH • Launch Playbook (Mary): 0.1 ETH ✅ Total ETH Requested: 0.671 ETH

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[5/8] W9 & Tax Clarification (Part 1) 📎 W9 and Tax Reporting Clarification: Mary’s payment is non-negotiable and will not be contingent on providing a W9. The amount is below the 1099 reporting threshold. Tax compliance complexity is the LLC’s responsibility—not the cohort’s. Previous payments to Mary covered reimbursable materials and do not trigger W9 requirements. We will not expose cohort members to privacy risks by forcing disclosure of sensitive tax data to parties who have demonstrated bad faith conduct. No DAO policy required a W9 at the time the Playbook was delivered. Retroactively imposing such a requirement is inappropriate. If tax documentation is desired, it can be resolved after payment is made in good faith.

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[6/8] Governance Safeguards Commitment ✅ Governance Safeguards Commitment: The DAO will commit that all future distributions from the Founder and Grants Safes require on-chain DAO voting approval of distribution policy. ✅ Safe Compliance The DAO will ensure all changes to the Founder and Grant Safes comply fully with Props 8 and 9, specifically requiring that all Council Members are included with one wallet per member.

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[7/8] Cohort Commitments Upon approval of these commitments, the cohort agrees to: • Send reacquired tokens to the Grants Wallet. • Authorize changes to the Grant Safe to remove Mary and realign with Props 8 and 9 compliance.

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