Frequently Asked Questions
All questions and answers for FixDAO
FixDAO is a decentralised organisation to assist victims who were affected by the FTX dabacle.
Welcome on-board! To join us, simply
1. Read the charter (https://drive.google.com/file/d/1BfNB--T29q9xKqKf0BzpzXWl4A1aEoBX/view?usp=share_link)
2. Sign the FixDAO membership consent form (https://t.co/WxqwjXbl7N)
3. Sign up for our membership via the google form (https://t.co/wKUm0hRB3a)
We are a Dao set up to advocate for the rights of creditors who are affected by the FTX insolvency, if we do not get the permission to act on behalf of those affected, we cannot proceed to work with the onboarded law firms to file claims for the members.
FixDAO will pay an Initial Retainer Legal Fee through Operation Treasury from grants and donations, Fees and expenses in excess of those covered by grants and donations will be allocated to, and advanced and paid currently on a pro-rata basis by FixDAO members who have credits ranked MORE THAN OR EQUAL TO 84th percentile of the total distribution of FixDAO members, and the members who advance such fees shall be entitled to recoup the portion of them allocable to the non-advancing members before FixDAO distributes any proceeds of its claims to any of its members. This is intended to enforce the consensus belief among FixDAO members that no member can freeride on others.
To incentivize small creditors to contribute to FixDAO, A professional fee waiver will be granted to any FixDAO member who has credits ranked less than the 84th percentile of the total distribution of FixDAO members and has contribution points ranked more than or equal to the 95th percentile of the entire FixDAO members who have contribution points, and waived portion will be allocated pro-rata to the rest of the members.