Orb Collective May 2023 Ops & GRC Update


DAO reports

Wind-down process

  • Dissolution agreement: finalized and signed by board of directors, dissolution date: 8/15
  • Dispute negotiation with EOR
  • Plan for 2023 estimated tax payment and post-dissolution tax filing
  • Plan for post-dissolution mail handling
  • Negotiations with 401K provider for employee transfers
  • Reviewed contracts, terms for 17 vendors/partners
  • Plan for timeline to terminate all external agreements without interrupting team’s work


  • Management of possible early termination scenario based on BIP earlier in the month
  • Offboarding process for 3 team members
  • Weekly team sync meetings
  • Resolved outstanding marketing bills
  • Resolved final expenses and bills from April on-site
  • Review, approval/denial, writing/sending of bills, invoices, reimbursements


Much of our GRC work is confidential to protect the ecosystem. Below are highlights of the most important projects.

  • Facilitated discussions on :
    • Takeaways from governance process around Orb transition
    • Threats to legal decentralization where entities/token holders have influence/control/manage operations of the ecosystem
  • Understand and proactively protect against potential threats re: legal/regulatory risks:
    • Reg strat meetings, research & advice: trade association, partner & defi education fund calls to vet GRC framework & discuss decentralization strategy. Ad hoc advice to marketing and business development resources.
    • Ops Risks: Vendor, service provider, governance and human resources matters for wind down and contributor turnover, managing Ops risks and legal agreements with vendors etc. Facilitate risk mitigation for collections on legacy vendors.
  • Promote Balancer’s further decentralization:
    • Advice on transition and wind down plans and proposals re: DAO, foundation, OpCo etc.