FDIP - Ethereum Node Services Agreement
Author: Pixel Vault, Inc. (“Pixel Vault”)
Type: Partnership; Implementation of prior FDIP
Implementor: Pixel Vault
Date: January 17, 2023
The purpose of this proposal is to allow members of the Founder’s DAO to review and comment on the Ethereum Node Services Agreement (“Agreement”) between Pixel Vault and the Founder’s DAO that implements the vote of the Founder’s DAO set forth in the snapshot vote here.
The draft Services Agreement can be reviewed here.
Timing and Snapshot Vote
- The Founder’s DAO shall have five (5) days from submission of this FDIP to review and comment on this Agreement (the “Review Period”). All comments to be reviewed should be left on this forum post. Pixel Vault, in its sole discretion, shall choose to accept or reject proposed edits. Within three (3) days after the expiration of the Review Period, Pixel Vault shall submit the final agreement to the Founder’s DAO, highlighting any changes from the original draft, to the Founder’s DAO snapshot page.
Pixel Vault shall do the following on behalf of the DAO pursuant to the Agreement:
- Wiping the SSD in the computer provided to the DAO by Verbdan, a member of the DAO
- Installing a linux distribution on the wiped SSD
- Installing and configuring the node to run on the computer
- Configuring persistence to ensure that in the event of a power outage, unexpected shutdown, etc, that when rebooted, the computer will automatically resume normal node operations
- Ensuring that internal and external monitoring tools are available for both the Company and all members of the DAO
- Period of two (2) years, unless terminated earlier as provided in this Agreement or by approval of the DAO. Agreement will automatically be renewed for subsequent two-year periods, unless (i) either party notifies the other in writing of its intent not to renew at least thirty (30) days prior to the end of the then-current term, or (ii) the DAO votes to otherwise terminate the Agreement at any time.
- Upon termination of the Agreement, the equipment shall be returned to Verbdan on behalf of the DAO.
Costs & Expenses
- All expenses incurred by Service Provider in operating and managing the Node shall be paid by the Service Recipient, provided Service Provider receives prior written authorization from Service Recipient specifying the covered expense items for amounts over $500.00; provided; however, that the initial setup costs not to exceed $500.00 shall be approved in connection with the DAO’s approval of this Agreement.
Reimbursement of Legal Costs
- In connection with the review of this Agreement and preparation of the Directors’ Resolutions, which shall approve entering into the agreement upon successful DAO vote, Pixel Vault, Inc. is expected to incur $1,500.00 in legal costs. These services were done on behalf of the DAO to ensure Agreement is in compliance with Cayman Islands Law.
Benefits to DAO
- This FDIP implements the previously adopted FDIP relating to the Ethereum node, which can be found at the snapshot link above.