Olivia
Online
G. 🎒🕶️
@gyunit_
Strategy | Oversight @ATOMAccelerator | @Ignite (Tendermint) | go Steelers 🏈
NYC
Joined September 2019
982 Following
1.9K Followers
4.2K Posts
@Airdrops_one @osmosis @cosmoshub You shouldn't be factoring in the CEX validators as viable votes on the table bc they never vote
🧵
1/6 The validator set has been the backbone of @BitwayOfficial journey, investing in high-performance infrastructure and technical expertise from testnets to mainnet. However, we have reached a critical friction point regarding network sustainability @shaneqiu
Official position of Cosmos Labs (not me personally) on Hydro proposal.
It should be noted - Cosmos Labs does not control governance, and is an independent entity that acts as a concerned member of the community regarding Cosmos, ATOM, and the Hub.
https://t.co/SVZ9mCaMBK
Who to follow
The AADAO Guernsey Trust was finalized in July 2024, and the deed is problematic. Not aligned w Hub interests.
The deed should explicitly direct the Trustee and Enforcer to return all assets to the hub at Trust's expiry. Rn, it doesn't, despite what the cofounders promised community re the Trust structure and what it establishes.
The hub still needs an active and **valid** trust to see through the maturity of investment contracts (through 2028).
The purpose of the trust deed also doesn't accurately describe the key activities of the Dao. For governance reasons, it must be accurate and thus amended. Esp bc AADAO used CP funds to execute investment agreements (incidentally also signed by contributors who had no signing authority).
Coulda left irresponsibly or prematurely like everyone else. But I didnt bc it's a pretty big thing to get elected via community gov.
I'll finish the non-negotiable things we have to get right, then resign. Looking forward to it, profoundly
I wasn’t hired by AADAO.
Cosmos Hub governance elected me to the Oversight role with 60,856,064 ATOM.
I get paid $75/hr to clean up the unholy mess the Dao contributors made. And left.
Someone has to.
I’m unwinding a 450,000 ATOM LP position that even the community forgot about, unstaking it in tranches, w every ATOM going back to the Hub.
In the past 3 months, I’ve cancelled more grants and “milestones” than the entire grants program did in 2 yrs.
Fixing a broken Guernsey trust deed so that when AADAO expires, every asset returns to the cp.
By the end of this week, with all grant obligations closed, another ~$900,000 to the Hub.
All this for 79% less than my real world rate.
And finally, I'm an external consultant, not a salaried employee at Cosmos Labs. Haven’t billed them $300K. Not even close.
"Rarma confirmed?" That pouch rat knows nothing
https://t.co/pgh60MV6Gk
Should be simple, but it's not.
The top level AADAO wallet that received 450,000 $ATOM to "steward" POL is an old school 4-7 Cosmos multisig. There's no technical workaround to folks not signing.
The POL also left the multisig for individual AADAO contributor wallets from which the funds were deployed. So the claw back is even more convoluted.
First, we had to unwind the LP position on Astroport -- which required delisting stATOM. It then took me, Mag, and Barry four months to compel four signers to IBC transfer stATOM from Neutron to Stride. From Stride, the stATOM is getting unstaked in four tranches due to rate limiting issues. Once this is done, the 4-7 will need to sign again to send 450,000 to the cp.
Cosmos Labs is providing technical support to make sure every step is structured and executed correctly.
Throughout this ordeal, only two signers have been consistently available and exceedingly responsive: @CosmostationVD @imperator_co
What I Do:
1. Uphold the Hub’s ownership of all AADAO assets, ensuring the Trust’s form and function reflect the commitments made to the community (via proposals 95 and 865)
2. Preserve and return as much $ possible to the Hub, through operational efficiency and responsible fund management
Compensation:
There's been **no change in comp rate.** Oversight work is paid at $75 per hr, and the increase in recent remuneration reflects additional hours worked, not a rate hike.
FTE Allocations (July–October)
Matt: 35% / 25% / 25% / 25%
Me: 65% / 60% / 45% / 45%
The higher FTE allocations in July-Oct reflect the operational transition period, during which I assumed full responsibility for outstanding grant administration.
Oversight Driven Deliverables and Cost Savings:
Since July, I’ve
- Renegotiated, rescoped, and closed 9 of 11 active grants. According to the AADAO Controller, these actions have resulted in **$188,000 in savings** to date
- Returned all StratComm wallet funds (216,310 ATOM and 80,591 USDC) to cp
- Coordinating the return of 450,000 ATOM POL, which would otherwise have remained indefinitely deployed on Astroport/Stride. CL providing technical support
The Operations and Grants subDAO wallets currently hold ~$1M in $ATOM and USDC.
After all remaining grant obligations are paid, the balance of funds in both subDao wallets will return to the cp, with ~**$845,000** expected to go back by mid-Nov!
Governance and Legal Structure:
The AADAO Guernsey Trust must remain active for an estimated 2–3 years to see through the maturity of its investment agreements. Significant time requiring support from legal professionals has been dedicated to identifying deficiencies in the Trust Deed to ensure that its structure/governance align with the Hub’s interests.
Unfortunately, the structure created by the DAO co-founders deviated from their public commitment as a “community-owned DAO.” I’m working to rectify these structural inconsistencies in the deed. You're welcome.
To support this, the ICF has covered legal expenses to minimally reform the Trust deed despite **receiving NO financial benefit** from doing so.
The Deed will be amended to ensure that, upon termination, the Trustee is directed to remit all assets to the Hub. Currently, it’s not structured that way!
Trustee Expense Allocation:
To be clear, no funds are being siphoned to the BVI trustee, and **ICL/CL have no involvement** in the management or use of AADAO funds.
The $40,000 restricted expense grant to Lemma (the Trustee) was made to cover legitimate incidental costs associated with performing trustee duties, such as:
- Repurchase or restructure token warrants
- Novation of agreements (SAFEs were signed by contributors without signing authority)
- Transaction costs
This allocation ensures the Trustee can perform these duties without repeatedly asking the Hub to reimburse (e.g., $500 to execute a warrant).
It was a core DAO oversight not to anticipate these operational requirements. Any unused balance from this expense grant will also go back to the Hub upon Trust termination or by Dec 2028, whichever occurs first.
I made the discretionary decision to designate CL as the “report to” entity for these expenses, as it’s the only org of relevance to the Hub w guaranteed operational presence over the next 3 yrs.
Independent Consultant Status:
For the record, I'm not a Labs employee.
I operate as an independent contract consultant, and WITHOUT CL as a client, my billings exceed $300,000 yr-to-date.
All my actions are guided by community interest. Not personal gain. I’ve done, and continue to do this job at a real personal and economic loss.
I'm returning millions to the Hub.
What've you done for the Hub?
Stop baiting online w gross misinformation.
Grow up.
All supporting materials and reports here:
https://t.co/DFAYhmEUkn)
https://t.co/czF0Cn77rt
https://t.co/4ZCec9QguH
https://t.co/zYHuyZ2NvV
Majority of the funds were held in StratComm subDAO wallet. In July, 216310 ATOM and 80591 USDC returned to the cp.
https://t.co/czF0Cn77rt
Only Ops and Grants subDAO wallets are active and funded w combined ~1M. After all core members left, there were 11 active grants. I've canceled/re scoped/closed 8 of 11.
Milestone definitions were missing or insufficient for nearly all, so the past 2.5 months entailed negotiations w grantees. https://t.co/3dlofDZPIj
Hoping to close out all grants mid Nov. Probably $400k more returning to the hub. Might be more.
@joe4deadcat @StunZeedbruh @Dominator0081 @RoboMcGobo @RayRaspberry1 @cosmoslabs_io @0xMagmar @ATOMAccelerator You don't need special credentials. Just common sense.
You can't return funds when funds are being used. Kinda basic.
If you have more questions, please take it to the forum.
https://t.co/TlUepZ9V7T
Bro, folks already disappeared. The only thing preventing the further abuse of hub funds is me and @cosmoslabs_io
Several teams tried to twist Proposal 800 to mean an indefinite LP of 450k ATOM.
It's not.
And the co founder ("Better Future" 😂, ironic) of this mess is not even inclined to participate in conversations about unwinding the position. He left the chat (see below).
AADAO contributors also used $1.6M of ATOM to execute SAFEs and token warrants. Some of these agreements were signed by Youssef and other core contributors. Only the Trustee (Lemma LTD) has signing authority. We need to redo these agreements, and also redo the Guernsey Trust deed to ensure that the hub has a valid Trust structure to see through the maturity of these agreements (~2028). We also need to amend the deed to explicitly direct the BVI Trustee and Enforcer to revert ALL assets to the hub upon termination of the Trust.
In addition to all of the above, I'm cancelling "milestones", grants, and nonsense SoW agreements. The AADAO folks signed contracts that didn't reflect terms of what they claim they bargained for. Who signs contracts wo reading them?
I've rescoped grants to improve capital efficiency. And for grantees that have end terms for Nov/Dec 2025, they've agreed to directly provide community w final reports on the forum (@crypto_crew @passageio @HuginnStake) bc I really want to be done w this.
Doing this for the past 17 months has been a huge opportunity cost for me.
But I knew this (kinda) going in. Didn't know it would be this bad. But my community service ends Nov.
You're welcome.
Ask questions. I always answer them. Would be more productive if y'all read all the context and information already provided.
No good deed goes unpunished.
Thanks for the reminder. No one is “usurping governance.” It’s more accurate to say that we are filling the gaps left by primitive gov, the community, prior AADAO leadership, and by you! Much foresight and structure were lacking to responsibly ensure a legit drawdown.
1. Grant Portfolio Overview
Oct - Dec 2024, $1,899,086 in unique grants approved, with $587,989.87 for ventures.
Many grants, including several from earlier 2024 approval batches remain active bc contributors assigned delivery dates extending to Dec 2025.
While I prefer to close out all grants quickly, it'd be unfair to deprive grantees of the opportunity to complete their deliverables. Where warranted, I've discontinued engagements (Immunefi, Delta Neutral Vault). In many cases, I’ve redefined or clarified milestones and metrics bc AADAO did not specify fulfillment terms.
Where possible, I’ve rescoped grants to improve capital efficiency (Dorahacks) and renegotiated original terms to expedite closure (Votion, Superbolt, and Passage).
2. Trust Structure and Governance Remediation
Under the Guernsey Trust Deed governing AADAO, control and administrative powers rest with the Trustee and the Enforcer. It's not really hub gov. Read the deed. The Trustee currently believes the Enforcer role is vacant due to negligence. For the Trust to remain valid, an Enforcer must exist at all times.
I’ve been working with the Trustee and ICF legal team to:
- Remediate gov deficiencies within the Trust
- Amend the deed to ensure that all assets revert to the cp upon Trust termination, and
- Maintain Trust validity until ALL investment agreements mature.
It’s important to DISTINGUISH bw sunsetting the core DAO team and winding down the Trust.
Separate things + processes. The former can occur now; the latter must remain intact until ALL obligations are settled.
3. Ops and Cost Controls
Many of the challenges now being resolved stem from gov oversights by the founding members and former “Strategy Committee.” For ex, the Trustee requires funds to cover incidental legal and administrative costs eg novating improperly executed agreements and exercising token rights. These are necessary, legitimate expenses. And the Trustee should have a reporting obligation for how these funds are used. The best interim fix is CL. Or do you want to keep me on payroll until 2028?
We've been addressing these issues efficiently and transparently. Read the forum. We're cleaning up this unholy mess so it corresponds to the promises the DAO contributors made when they baited the community into passing 95 and 865.
4. Compensation and Workload
From July - Sep 2025, I’m doing the combined work of former core DAO members and the Oversight job. Agree an on-chain proposal couldve been beneficial, but my time is better spent executing drawdown, esp as there was overwhelming consensus on the forum wrt to my recommendations.
During “maintenance” phase (Jan - July 2025), monthly overhead ranged from $18K - $21.8K, down from $88K/month during peak ops. Current overhead of $8K/month combined for Matt and myself is, by any reasonable measure, a bargain given the scope of work and outcomes delivered.
Overages are reviewed and approved by core DAO (Joni and Delisse) and the Financial Controller, with the Trustee informed. I'm compensated @ $75/hr which is not even 30% of my rate bro. I have every incentive to close this chapter efficiently. Not to prolong it.
While this looks like an economic opportunity for you. It's not for me.
To date, I’ve accomplished in 3 months what a 7-person, PT team couldnt do in 7 months. End of this mo, 12 of 14 grants will be fully closed.
Behind the scenes, also handling complex unwinding tasks: managing return of 450K ATOM LP to cp.
As usual, your concerns are based on chain data w selective CONTEXT. But your rant is proof ur the Don Quixote of Cosmos. Keep tilting at windmills if you haven't fallen from the horse already.
No good deed goes unpunished.
Thanks for the reminder. No one is “usurping governance.” It’s more accurate to say that we are filling the gaps left by primitive gov, the community, prior AADAO leadership, and by you! Much foresight and structure were lacking to responsibly ensure a legit drawdown.
1. Grant Portfolio Overview
Oct - Dec 2024, $1,899,086 in unique grants approved, with $587,989.87 for ventures.
Many grants, including several from earlier 2024 approval batches remain active bc contributors assigned delivery dates extending to Dec 2025.
While I prefer to close out all grants quickly, it'd be unfair to deprive grantees of the opportunity to complete their deliverables. Where warranted, I've discontinued engagements (Immunefi, Delta Neutral Vault). In many cases, I’ve redefined or clarified milestones and metrics bc AADAO did not specify fulfillment terms.
Where possible, I’ve rescoped grants to improve capital efficiency (Dorahacks) and renegotiated original terms to expedite closure (Votion, Superbolt, and Passage).
2. Trust Structure and Governance Remediation
Under the Guernsey Trust Deed governing AADAO, control and administrative powers rest with the Trustee and the Enforcer. It's not really hub gov. Read the deed. The Trustee currently believes the Enforcer role is vacant due to negligence. For the Trust to remain valid, an Enforcer must exist at all times.
I’ve been working with the Trustee and ICF legal team to:
- Remediate gov deficiencies within the Trust
- Amend the deed to ensure that all assets revert to the cp upon Trust termination, and
- Maintain Trust validity until ALL investment agreements mature.
It’s important to DISTINGUISH bw sunsetting the core DAO team and winding down the Trust.
Separate things + processes. The former can occur now; the latter must remain intact until ALL obligations are settled.
3. Ops and Cost Controls
Many of the challenges now being resolved stem from gov oversights by the founding members and former “Strategy Committee.” For ex, the Trustee requires funds to cover incidental legal and administrative costs eg novating improperly executed agreements and exercising token rights. These are necessary, legitimate expenses. And the Trustee should have a reporting obligation for how these funds are used. The best interim fix is CL. Or do you want to keep me on payroll until 2028?
We've been addressing these issues efficiently and transparently. Read the forum. We're cleaning up this unholy mess so it corresponds to the promises the DAO contributors made when they baited the community into passing 95 and 865.
4. Compensation and Workload
From July - Sep 2025, I’m doing the combined work of former core DAO members and the Oversight job. Agree an on-chain proposal couldve been beneficial, but my time is better spent executing drawdown, esp as there was overwhelming consensus on the forum wrt to my recommendations.
During “maintenance” phase (Jan - July 2025), monthly overhead ranged from $18K - $21.8K, down from $88K/month during peak ops. Current overhead of $8K/month combined for Matt and myself is, by any reasonable measure, a bargain given the scope of work and outcomes delivered.
Overages are reviewed and approved by core DAO (Joni and Delisse) and the Financial Controller, with the Trustee informed. I'm compensated @ $75/hr which is not even 30% of my rate bro. I have every incentive to close this chapter efficiently. Not to prolong it.
While this looks like an economic opportunity for you. It's not for me.
To date, I’ve accomplished in 3 months what a 7-person, PT team couldnt do in 7 months. End of this mo, 12 of 14 grants will be fully closed.
Behind the scenes, also handling complex unwinding tasks: managing return of 450K ATOM LP to cp.
As usual, your concerns are based on chain data w selective CONTEXT. But your rant is proof ur the Don Quixote of Cosmos. Keep tilting at windmills if you haven't fallen from the horse already.
1. I’ve consistently stated since June 2024 that the data in ClickUp is inadequate. I’ve asked contributors to address this for 13 months. A significant amount of critical context is missing and can only be retrieved from Slack. ClickUp entries reference screenshots from Slack, and the image provided is an incomplete capture of the relevant conversation.
To be clear, I’m not referring to private 1:1 messages. The concern is with key group chats on Slack involving members from StratComm, Grants, Ventures, and Oversight -- these are no longer accessible and are essential for continuity.
Also, which active contributors have you been in contact with? To my knowledge, no one on the current maintenance roster has been able to reach you since May.
Regarding the Slack subscription, could you please renew it for two years with two seats? The DAO will reimburse the expense.
2. We're still waiting for you to sign. Please check Prop 800 chat in TG.
3. Pls review the TG chat with former/current StratComm members. The Trustee has indicated that the identity of the Enforcer is unclear. They require formal confirmation of who the Enforcer is and how that person/s can be contacted.
In addition, the engagement with Lemma must be extended through 2028. Investment agreements require novation, and a budget for incidental legal expenses should be allocated to Lemma through the end of their term.
Additionally, some investee teams have expressed interest in repurchasing token warrants -- all this entails legal support.
Finally, if your preference is to communicate publicly on X, that’s fine. But, it'd be far more efficient if you responded to the relevant group chats and DMs. If you prefer to use public channels, please tag me directly.
Hey @BetterCio
Multiple AADAO contributors, including myself, have been trying to reach you for 8+weeks. As a co-founder of @ATOMAccelerator, your attention is urgently needed on several time-sensitive and urgent matters.
cc: @0xMagmar
@BetterCio
There are 3 urgent matters requiring your immediate attention:
1. Renew and transfer ownership of the AADAO Slack workspace to me and @0xMagmar. Critical historical information necessary for ongoing grant and venture oversight is currently inaccessible. We agreed last Dec on the importance of preserving data and comms to ensure responsible continuity.
2. Confirm your multisig public key and sign tx to initiate unwind of the 450,000 ATOM LP position on Astroport. These community funds must be returned to the Hub per CH Prop 800.
3. The Trustee (Lemma) and I need clarity on the current Enforcer of the Guernsey Trust. Are you still the Enforcer? If not, who is it?
There appears to be misalignment bw the Internal Protocols and the Trust Deed regarding the definition of the Strategy Committee and its role as Enforcer. Lemma, has indicated that no Enforcer is currently in place. We need the identity and status of the Enforcer to amend the Deed and novate venture agreements that were improperly executed.
I've resorted to sharing this publicly bc my DMs via Signal, Telegram, and X are still unanswered. If your contact information has changed, please lmk asap.
@BetterCio @ATOMAccelerator @0xMagmar Hey there, can you check your emails and DMs (TG/Signal).
Also, please check the Prop 800 group chat.
Thanks
Hey @BetterCio, @0xMagmar (Interchain Labs) and I have been trying to reach you -- please check your email and DMs.
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