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R02 Funding

Strategic Intent​

The Strategic Intent is to fund further Dreamcatcher development in order to get the Dreamcatcher launched. Currently we have no funding beyond personal means, which isn't scalable and is not enough to get the Dreamcatcher operational in a self sustaining state.

Because the Dreamcatcher is intended to have per project fundraising abilities, and because those methods conflict with many of the concepts of conventional equity, we believe the only sustainable fundraising model is to use the concepts of the Dreamcatcher to raise the investment necessary to build and launch the Dreamcatcher.

The Dreamcatcher must be treated in all regards as a project on the Dreamcatcher.

Tactical Intent​

In order to meet the Strategic Intent, we believe that we need:

  1. To be able to convince potential investors that the Dreamcatcher is a good opportunity for them to invest.
  2. To be able to take in investment should investors agree.
  3. To be able to effectively spend that treasury legally to create NFAs for the creation of the Dreamcatcher, and for NFAs built on the Dreamcatcher, including spending the treasury on third parties.
  4. To be able to disburse the benefits attributed to the NFAs to contributors and investors.
  5. Use a funding mechanism that can be reused for any other projects on the Dreamcatcher network

Detailed Description​

Tactical Intent 1: Convince Investors.​

To convince investors as to the opportunity to invest, we believe that we need to make a clear, honest and understandable value proposition in person or over a video call. That proposition:

Must​

  1. Communicate the fundamentals of what the Dreamcatcher is.
  2. Communicate the opportunity.
  3. Be clear that the only way for profit realization is when ambient attribution begins, which relies on the parcipation of large numbers of users

Should​

  1. Detail the opportunity to them as an investor.
  2. Detail the logistics of how they can invest, should they wish to.

Could​

  1. Provide enough details that, if they want to, the investor can refer the proposition to someone skilled in the art for assessment without further reference to us.
  2. Show the growing need in the market and the urgency about 'why now?'

Must not​

  1. Be in any way misleading in terms of what will be produced with this round of investment vs what the future may hold after that.

Done​

  1. A test pitch to three 'friendly' potential investors who will give us full and fair feedback, with that feedback being incorporated into the pitch.
  2. Three real-life investment pitches where feedback is such that the QA Authority believes they understood the value proposition and has gained feedback to that end on the proposed legal structure.

Tactical Intent 2: Take in Investment.​

To take in investment, we believe that we need a legal vehicle in place which Investors can have confidence in. We believe that if the structure does not clearly identify itself as being of a known type (Company, Co-op, e.g.) in the key jurisdictions, we're likely at some point to be forced into one of those definitions and may face retrospective legal action against us. The properties of this legal vehicle are that it:

Must​

  1. Allow investment to be made in a legal manner in the specific territory or territories in which it will be set up.
  2. Be simple enough to allow a reasonable investor to have confidence in the structure.
  3. Must firmly occupy a predefined legal vehicle definition to avoid being forced into one unwillingly
  4. Must be reusable by other projects on the Dreamcatcher as their investment mechanisms
  5. Allow the Articles and Governance to be published as an NFA to allow others to re-use this work.
  6. Guarantee investors ownership of their unspent money
  7. Record the real world identities of all who contribute money

Should​

  1. Allow the investors to exit instantly if they feel that their funds are not being appropriately deployed.
  2. Be reinvestable in continuously, for those who want to enter later
  3. Be attractive to investors in order to make fundraising as fast as possible.
  4. Be understandable to the investors as part of a 30 minute pitch deck.
  5. Pick a clear legal bucket to be classified as, lest classification be chosen for us.

Could​

  1. Use a structure Investors are used to, in order to speed up the investment round.
  2. Leverage the continuous disclosure nature of the Dreamcatcher to meet US Securities requirements for reduction of information asymmetries.

Must not​

  1. Break the ethos of the Dreamcatcher, in that its articles embody transparency, fairness, etc.
  2. Permit any naive investors to put their money in
  3. Offer any form of ownership or control other than NFAs and remaining funds

Done​

  1. Internal Proposal for 2-3 possible structures that satisfy the description, with anticipated problems highlighted and a comparison table between them. This Stagegate will be considered done when this proposal is sufficient to make a decision on which structure to implement.
  2. The legal entity chosen and validated is set up and ready to accept investment.
  3. We will know that this is done when we have $500k in the bank, and can deploy that as we see fit in developing the Dreamcatcher, can attract 1-10 investors, each investing $50k to $200k, in a vehicle where they feel that their investment will be intelligently deployed and will attract a return.
  4. The signatures on the legal contracts from the internal team, signifying that they are individually content to work under Ambient Attribution.
  5. Incorporation of the legal contracts within the articles of the legal vehicle, and therefore acceptance by the investors to work under Ambient Attribution.

Tactical Intent 3: Spend the Treasury on NFAs.​

To be able to effectively spend the Treasury on NFAs we need to be able to hold the treasury, pay out from the treasury for work done including tracking that work done to completion, to be able to report on where it has been spent, and be able to track beneficial ownership of the NFAs produced. We believe that to do that we:

Must​

  1. Be able to spend the treasury on the creation on NFAs that protects both the contributors and investors.
  2. Provide an intelligent feedback loop from investor selection as to what their money gets spent on

Should​

  1. Provide transparency to Investors about where their investment has been deployed.

Could​

  1. Test the concept of NFAs and Ambient Attribution.

Must not​

  1. Fall foul of the financial laws of the jurisdiction in which the vehicle is based.

Done​

  1. The signatures on the legal contracts from the internal team, signifying that they are individually content to work under those contracts for direct payments. First payment under this paid out for work carried. The recording on Contributions beyond that payout (ie partial funding for the work and split ownership.)
  2. Incorporation of the legal contracts within the articles of the legal vehicle, and therefore acceptance by the investors to work under that same legal structure. First tranche of investment transferred to the legal vehicle for that use.
  3. Validation of wider utility through the first signature of a non-internal team Contributor.

Tactical Intent 4: Disburse the benefits arising.​

To be able to entice investors, we expect that they will look for a return on their investment. In order to reach the Strategic Intent we expect to use Ambient Attribution for this. We beleive to do that we:

Must​

  1. Provide the legal framework for some form of Ambient Attribution that the investors and contributors are comfortable with.
  2. Be able to demonstrate self improvement both in action, and in a model of incentives for all actors

Should​

  1. Be translatable into the Dreamcatcher once launched, for continuity.

Could​

  1. Test the concept of NFAs and Ambient Attribution.

Must not​

  1. Fall foul of the financial laws of the jurisdiction in which the vehicle is based.

Tactical Intent 5: Reusable Funding Method​

To be an authentic Dreamcatcher fundraising method, it must be possible to reuse this method for any other project.

Must​

  1. Be used to raise capital for a completely non core Dreamcatcher project
  2. Be operated fully by people unaffiliated with the Dreamcatcher team
  3. Be able to fund betterment of an open source project without the agreement of the project leads

Should​

  1. Be easily operated in a majority of popular jurisdictions around the world
  2. Be crypto and fiat compatible

Could​

Must not​

  1. Break laws in the nominated majority jurisdictions