Hello!
We are a small start-up that plans to create a DEC/DAO (centralized) exchange.
Since it will be a cooperative venture, we will only be successful if there is enough interest from the crypto community. I would appreciate your feedback.


Our vision is to create a fully transparent, autonomous and malleable company in which each member has insight into the finances of the company, the number of employees/salaries, etc., and can co-determine strategic goals and the use of capital^[1].
It should also be possible for the community, for example, to reduce the salary of the board of directors or to dismiss the board of directors as a whole.
Each member can buy several shares (e.g. 10 shares), whereby each member has only one vote. Each member's dividend payout is proportional to the number of shares he or she owns.


We are in the process of developing a DAC with a corresponding exchange.
The DAC will be a company that is legally fully owned and managed by members of the community.
It will be a cooperative and anyone can be a legal member (shareholder) of that cooperative. Through a digital board, each member can make proposals and vote on them (E-Voting). A board is initially designated at the start of the company, but can be removed and replaced at any time.
Business decisions that exceed a certain threshold (e.g. decisions that would exceed $10,000 in implementation costs) must be approved by the community.
Virtually all of these decisions (with the exception of some very risky or time-critical ones) should be confirmed by a community vote. The community should also have the opportunity to make their own suggestions and vote on them at any time.
In addition to some basic rules (to limit liability risks), rules could also be set by the community.

Each proposal must be reviewed and evaluated by the board. The results of this process will be presented to the community. After reviewing the results, the community can decide whether to accept or reject the proposal.
The board of directors must implement the proposal as long as it complies with some predefined rules (for liability reasons).


Do you like this idea? Would you become a member/shareholder of this company? Do you have any remarks on the general idea?

Please don't address any specific problems (e.g. legal implementation), as I would rather receive feedback from the community about the general idea.
The handling of the following issues is described in our whitepaper:

- liability of the board of directors and shareholders
- privacy statement
- voting system
- turnout
- legal transposition


As it will be a community project and each member (including me) has no more than one vote, anyone who wants to support the idea can always be in touch with me.
We are an open team, everyone can join and support us.

Contact:
Felix Maduakor
felix.maduakor@rub.de

^[1] However, some sensitive data are not disclosed to shareholders (e.g. customer data, private keys, ....).