About the DAO
- ViciNFT will mint all NFTs used in the campaign and distribute all funds in the Coffee Shop Support Fund (CSSF).
- ViciNFT will screen all qualifying nominated coffee shops for accuracy before distributing donation proceeds.
- ViciNFT holds the right to disqualify any nominated coffee shop if it does not meet the requirements in the terms of service.
- General Liability / Indemnification – ViciNFT & the Coffee Shop Support Fund are not responsible for any liabilities that result from a contractor’s acts in the course of the agreement.
- The top 10 qualified nominated and winning coffee shops will be listed on the coffeeshopdao.com website and may be promoted on ViciNFT social media and related accounts.
- Coffee shops may voluntarily opt out by contacting email@example.com to opt out of the campaign.
- If a coffee shop opts out, donation proceeds for those NFTs will remain in the Coffee Shop Support Fund until the next DAO vote.
- Nominations or votes containing language deemed to harass, abuse, or harm another party will be automatically disqualified, and NFT donation proceeds will go into the Coffee Shop Support Fund.
- Each Coffee Shop Support NFT purchased enables a DAO vote.
- Coffee Shop Support DAO voting dates are determined when gross donation proceeds reach $10,000. The DAO will then have seven days to submit a vote on which qualified nominated coffee shop they think most deserves assistance.
- When the CSSF reaches $10,000, the DAO will vote on which coffee shop will each receive $10,000.
- Upcoming DAO voting date windows will be viewable on DAO members’ dynamic NFTs.
- Coffee Shop Support campaign end date is Dec 31, 2024, at which time the DAO will vote on a final winning coffee shop(s) with the remaining donation proceeds.
Coffee Shop Eligibility
- Coffee shops must state what they will use winning donation proceeds for, i.e., operating costs, payroll, new equipment, etc., before accepting donation proceeds.
- Open to privately held coffee shops only. Donation proceeds for national or chain coffee shops with more than 5 locations will go into the Coffee Shop Support Fund to provide financial relief to those determined by the NFT holding community.
- Campaign limited to US coffee shops.
- For every 100 nominations and NFTs sold, a coffee shop will receive $2,500 in donation proceeds from the Coffee Shop Support Fund (CSSF).
- Coffee shops must receive at least 100 nominations to be eligible to receive donation proceeds.
- If a coffee shop does not receive at least 100 nominations by the end of the campaign, donations proceeds from those NFTs will remain in the Coffee Shop Support Fund (CSSF) for DAO distribution vote.
Coffee Shop Support Fund (CSSF)
- For every 100 nominations & NFTs sold, eligible coffee shops will receive $2,500 from the Coffee Shop Support Fund.
- 80% of net proceeds go into a Coffee Shop Support Fund controlled by the DAO. When the CSSF reaches $10,000, the DAO will vote on which coffee shop will each receive funds.
- Distribution phase – eligible coffee shops will get paid directly via (wire, check, or bank transfer) within seven days of the DAO vote.
- Distribution terms – 40% of net donation proceeds will go directly to every eligible nominated coffee shop, 40% will distribute to the winners, and 20% to ViciNFT for facilitation.
- Net proceeds are defined as gross proceeds minus credit card transaction fees and taxes where applicable.
- A coffee shop can only win once.
- Any donation proceeds not collected by a winning coffee shop will stay in the Coffee Shop Support Fund to provide financial relief to those determined by the DAO.