- Status: Open
- Proposer: @gsaslis
- Your Project(s): [optional]:
- Projects you think this work could be useful for [optional]: all (Rad) DAO contributors and service providers that don’t yet know how to legally accept payments in Cryptocurrency.
We are keen to research and present to the Radicle and broader community the options around Decentralized Autonomous Organizations (DAO) contributors getting paid in cryptocurrency.
As part of the ongoing work to Transition to the DAO, we think we can provide added value by presenting findings from Greece - another EU country - and comparing them with similar findings for other countries where other contributors are active.
Our key goal here is to contribute with our experience in publishing a tool for DAO contributors to understand how to best set up their relationship to a DAO. This will hopefully help contributors to use cryptocurrencies for their regular work income - especially for those living in countries where crypto is still “uncharted territory”. More details on the tool follows in the Deliverables section.
The problem statement
While cryptocurrency has taken off as an investment vehicle, it has found very limited adoption to date as a “currency” that can be used for peer-to-peer (person-to-person) transactions.
Disappointingly, it has found even less adoption for organization-to-person transactions.
On the one hand, Decentralized Autonomous Organizations (DAO)s typically have large treasuries (usually in a variety of cryptocurrencies), which they could use to reward contributors for the services and work those provide to the DAO.
On the other hand, the lack of a clear legislatory framework in most countries and the non-recognition of cryptocurrency as a form of currency, means that most contributors are and will continue to be reluctant about receiving cryptocurrency as a payment for their services. To be clear: this does happen, but it is certainly not straightforward, risk-free and as easy as payment from your day job should be.
This is also the case for Radicle, as it transitions to a DAO.
While this is a challenging reality for DAOs and contributors alike, there is still area for progress to be made.
We feel this entry-barrier can be significantly lowered by researching existing laws / cases / tax options across a range of different countries and presenting these to the community. This will not only highlight the current legal status in various countries, but it will start a much-needed conversation about how on-chain activity can be brought in line with existing tax frameworks. With a lower entry barrier and a clearer way of how Web3 income can be legally used, many more people (and less scammers) will be drawn into Web3 projects - and Radicle itself.
This grant application will kick-start an effort that has as its ultimate goal to create a framework that can guide DAO Service Providers towards accepting payments from DAO crypto-based treasuries.
The work covered by this Radicle Grant will include two 2 milestones, as per below:
Milestone 1: Overview of Greek Standing Law and Questionnaire for Service Providers in Other Jurisdictions
As part of this Milestone, we will start by presenting the general findings of standing law in Greece and then continue with a first version of a questionnaire that will help DAO service providers, understand the options around accepting crypto payments in their own legal jurisdiction.
- Total Estimated Duration: 3 calendar weeks
- Full-time equivalent (FTE): 5.5 FTE days
- Total Costs: 9 240 EUR (9 877 USDC)
|1.||Overview of Greek standing law on crypto||General overview of existing laws around cryptocurrency.|
|2.||Tax framework in Greece, in relation to crypto payments.||Identification of specific tax rules on payments in Cryptocurrency.|
|3.||Getting Started Guide: Crypto Payments for DAO Service Providers||A tool, delivered in the format of a questionnaire that presents the key questions to be answered in different legal jurisdictions, in order for Service Providers to understand their options towards accepting crypto payments.|
Milestone 2: Refined Questionnaire and Greece, as a Case Study
As part of the work in this milestone, we would like to iterate upon the questionnaire drafted in Milestone 1, welcoming input from the Radicle foundation’s / DAO’s legal counselors and any other Radicle contributors, in order to also draw upon their own experience and research of their country’s legal system. This way we feel we can collectively publish a guide for other jurisdictions - beyond each of the ones we have individually already researched.
In addition, we will try to present possible answers to the question:
How can DAO contributors get paid in Crypto in Greece?
- Total Estimated Duration: 3 calendar weeks
- Full-time equivalent (FTE): 7.5 FTE days
- Total Costs: 12 600 EUR (13 470 USDC)
|1.||Refined Getting Started Guide||Drawing upon the discussions with the broader community and the Rad DAO / Radicle Foundation legal team, we plan to present a v2 of this Guide.|
|2.||Greece, as an Example: Answers to the questions of the Guide||With Greek Law in mind, provide and share answers to the questions posed in the guide and present how DAO Service Providers that are based in Greece can best accept payments in crypto.|
- Kalamitsis Law Office - Our Firm - Sotirios Kalamitsis
- Lagoudakis law office (Kostas and Haris)
- Yorgos Saslis
- Contact Name: Yorgos Saslis
- Contact Email: I can share this privately on discord.
- Website: https://gsaslis.github.io/
- [Nikos Kalamitsis] 15+ years of Practicing law as member of the Athens Bar Association, mostly around Contract Law, Company law, Personal Data Protection Law, Tax law & criminal offences regarding taxation.
- [Haris Lagoudakis] 5+ years of Practicing the law as a member of the Heraklion Bar Association, mostly around Contract law, Consumer law, Tort law and Corporate law.
- [Kostas Lagoudakis] 35+ years of Practicing the law as a member of the Heraklion Bar Association, experienced mostly around Contract law, Consumer law, Tort law, Family law and Administrative law.
- [Yorgos] 15+ years of experience in various roles of the full Software Development Lifecycle: writing code, agreeing on specs with clients, architecting systems, establishing product priorities, designing testing and CI strategies, and co-creating department-wide processes - with an itch for driving “waste” out the door. Co-founder of developer communities (DevStaff, Heraklion Software Crafters, Web3 Greece) and co-organizer of open space unconferences (SoCraTes Crete, AgileCrete, JCrete) on the (paradise!) island of Crete!
Team LinkedIn Profiles (if available)
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