#10 - Terra's Partnership with {REDACTED}

Terra's path to decentralization continues.

One of the largest DAOs in the crypto industry, Terra ($LUNA), holds $2.74 billion in their treasury and is looking to spend.

They recently published a novel proposal – fusing a legendary sports franchise {REDACTED} with their brand. The proposal is a request from the community to provide $38.15 million USD to the {REDACTED} franchise from the community pool to fund a 5-year exclusive partnership deal to promote the Terra brand.

𝗠𝗮𝗿𝗰 𝗚𝗼𝗹𝗱𝗶𝗰𝗵 @MarcGoldich

Today marks the start of a new era for crypto & @terra_money. In addition to the proposal for a first-of-its-kind sponsorship btw a DAO and a major sports franchise, the Terra brand assets have been completely decentralized & turned over to the community.

agora.terra.moneyCommunity Funding Proposal for {REDACTED} Sports PartnershipRequesting 40 Million UST to Fund a Terra Brand Partnership with the {REDACTED} Sports Franchise in One of the Four Major American Professional Sports Leagues Disclaimer – I am employed by Terraform Labs Pte. Ltd. (“TFL”) BACKGROUND CONTEXT The Terra Community Pool swelled in valuation throughout…

This is the first time a DAO has proposed a legitimate partnership with a professional sports team, requiring innovative legal engineering. The steps taken can serve as a model for future DAOs:

1. Form a trust to control IP rights and the DAO multi-sig

2. Make the DAO the beneficiary of the trust

3. Legally obligate the trust to follow DAO governance voting outcomes

This is an exciting time for the industry and should pave the way for similar innovation. As Larry Florio said, “Do not underestimate how pivotal of a moment this is for decentralized governance and community-controlled organizations.”

You can read the entire proposal here.

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