Objective: This proposal aims to build on the foundations of Proposals 18, 103, and 129, which are all passed proposals that the Secret Foundation (SF) has agreed to fulfill. This proposal recognizes that, as per Prop 129, No asset transfers have occurred yet, regardless of the reasons, and it should be noted that any lack of asset transfers is not the fault of SCRT Labs. It emphasizes the crucial need for formal audit requests and tax opinions to address community concerns effectively, as stated in Prop 103. By incorporating feedback from previous proposals and robust discussion, this proposal is designed to better align the Secret Foundation with the promises made and the community’s rights. The aim is to ensure that the final actions of the Foundation are in line with their promise of setting the highest possible standard for accountability and transparency, continuity for Secret Network participants, and the return of the community brand assets to trusted parties as promised by Tor or is otherwise the communities right to get back.
This proposal addresses the shortcomings of Proposals 103 and 129, focusing on the need for audits to ensure community satisfaction, transparency, and accountability during the wind-down and transition period of the Secret Foundation.
II. Audit & Tax Opinion Requirements
- The SF must obtain three independent quotes for audits dating back to its inception and present the quotes publicly, choosing one to pursue. (Note: SF or Secret Foundation mentions in this proposal are always references to for profit C Corp based in IL)
- In accordance with the audit and tax opinion requirements outlined here, “independent” refers to organizations that have no affiliation or prior relationship with SF, its directors, or employees.
- The financial statements must be prepared in US GAAP or IFRS and audited externally by a certified and independent auditor.
- Make the audit report publicly available for community comment and visibility.
- Request an independent party to provide a tax opinion on Secret Foundation’s Tax Liability, and make it public.
- Should any amendments be made to the tax strategy or books after the initial tax opinion and audit are presented in the future, it would necessitate fulfilling these requirements again, as well as providing a new tax opinion and audit for transparency.
III. Trust and Information Sharing
Audits and tax opinions address community concerns by ensuring up-to-date and accurate information related to the use of community funds. In the current low trust environment, unaudited financials are incompatible as a reliable source of truth.
If changes occur in the future, repeating the audit and tax opinion process is essential to prevent stale information and maintain trust and transparency within the community, as without them, the Trustee’s final report would be deemed unreliable, hindering the transition process.
IV. Transparency and Accountability
- A final audit and increased transparency from the Foundation are required for the community to understand how funds were spent from the beginning to the end of the Foundation. This information is vital to determine the amount of money that can be recovered and transferred to the new organization.
- Moreover, custody transfer of the main brand community channels, including the website (scrt.network), the official SCRT discord server, github (Secret Foundation · GitHub), and the Telegram community (Telegram: Contact @scrtcommunity) should be transferred immediately to SCRT Labs’ control upon passing of this proposal. Note: The twitter was returned back to SCRT Labs already.
- This proposal also affirms the community’s desire for the Secret Foundation to fulfill promises made in Proposals 18, 103, and 129 in a timely manner.
- This proposal highlights the need for audits and increased transparency in line with community expectations as stated in Proposal 103. Additionally, it directly calls for ensuring that the commitments made in Proposals 18, 103, and 129 are abided by, further emphasizing the importance of transparency and accountability within the community.
- The community must be presented with continuity of accuracy regarding the information on audits and tax opinions to ensure a smooth transition and a complete understanding of the Secret Foundation’s financial situation. This approach helps prevent future proposals from being needed to request the same information in case any relevant changes are made by SF.
- Open communication, with the expectation that the Secret Foundation will share relevant information publicly regarding tax opinions/stances and audit results, is critical to ensuring the community stays informed, achieves a successful transition, and addresses concerns effectively.
- Without an audit and tax opinion, there is no way to know what amount of community funds can be transferred to the new NPO. Additionally, it is crucial that the information presented remains up to date even in the face of future changes, ensuring continuous transparency and accuracy.
Vote “Yes” if you support the community getting a final audit, tax opinion, and agree to transfer custody of the main brand community channels to SCRT Labs as described in this proposal.
Vote “No” if you do not support the proposal objectives as described.