# VST. Transition Team
Francis Sangkuan
# Vaulta Network Block Producer Proposal
Proposal Title: Establishment and Authorization of the Transition Team for Vaulta Stewardship Trust (VST) and Vaulta Stewardship LLC (VS LLC) Creation and Asset Transition
Proposal Type: 15/21 Multi-Signature (MSIG) Governance Action
## 1. Purpose
The Block Producers (hereinafter “BPs”) hereby establish and authorize a Transition Team to assist with the legal and operational setup of the following entities:
- Vaulta Stewardship Trust (hereinafter “VST”)
- Vaulta Stewardship LLC (hereinafter “VS LLC”)
Both entities shall be governed by the Vaulta Network’s 15/21 Multi-Signature (MSIG) governance model as established by the vst.creation proposal (https://unicove.com/en/vaulta/msig/bp.1dex/vst.creation/actions).
The Transition Team shall initially follow the architecture outlined in the original vst.creation proposal. During consultations with legal, accounting, and other professionals, if alternative structures (e.g., Wyoming DAO LLC) demonstrate clear advantages, the Transition Team shall compile a comparison report, discuss it with the 21 Block Producers and the broader community, and propose the most advantageous and widely supported option for final approval via 15/21 MSIG.
This memorandum itself requires approval via 15/21 MSIG to formally create the Transition Team and grant it the corresponding authorizations.
## 2. Delegated Powers
The Transition Team is granted the following limited authorizations:
1. Consultation and Coordination
Communicate with the trustee, LLC organizer/member, legal counsel, and other professionals on behalf of the BPs, solely to design and implement a structure that ensures the BPs retain ultimate governance via 15/21 MSIG.
2. Assist with Governance Documents
Work with counsel to draft proposed Trust, LLC, and bylaw documents that must include:
- 15/21 MSIG as the highest decision-making authority
- Binding the Trustee and LLC Manager/Member to execute MSIG decisions
- A three-person “Trust Enforcer Committee”
3. Operational Execution of VST Creation Proposal
Prepare drafts, information, and recommendations necessary to implement the vst.creation proposal, for subsequent BP review and approval via 15/21 MSIG.
Fundamental Restrictions
All final legal documents and any binding decisions must be approved via 15/21 MSIG. The Transition Team has no authority to independently bind the BPs, the Trust, or the LLC, nor to sign contracts or move assets directly.
Special Limited Uses of the Transition Team
(1) After full consultation with professionals and extensive discussion with the 21 BPs and community, select the final Trust/LLC legal structure:
- If the structure has no material difference from the original vst.creation proposal → proceed directly
- If the structure materially differs → it must first be submitted as a 15/21 MSIG proposal for BP approval
- Once the final structure is confirmed, costs for entity formation and related professional services shall be advanced by Treasury, Labs, or any Block Producer willing to front the expenses. All such advances will be reimbursed in full once the assets have been successfully transferred to the new entities.
(2) Upon formation of VST and VS LLC, perform a secondary review of all details and immediately initiate a new 15/21 MSIG proposal for the 21 BPs to confirm accuracy and simultaneously issue the formal asset handover request to the original Vaulta Foundation.
(3) Once all assets are transferred and verified correct by an independent third-party audit, publicly announce on official channels that the transition is complete. Any BP or community member may raise an objection within 7 days of the announcement. The Transition Team is then automatically disbanded
Internal Decision-Making Process
All recommendations, ideas, or options raised by any team member must first be brought to the 10-person Transition Team group chat for open discussion. After the team has fully discussed the matter, Francis as Team Lead will make the final decision on behalf of the Transition Team.
## 3. Limits and Protection of BP Authority
This memorandum expressly prohibits the Transition Team from:
- Changing or weakening the 15/21 MSIG governance model
- Approving expenditures, asset transfers, or contracts on behalf of VST or VS LLC
- Assuming any ongoing governance role after transition completion, unless explicitly extended by the BPs via MSIG.
All ultimate authority remains with the Block Producers via 15/21 MSIG.
## 4. Relationship with the Existing Vaulta Foundation & Asset Transfer
The Vaulta Foundation is expected to cooperate in good faith. The Transition Team is designated as the sole coordination body for the entire asset transfer process from the existing Foundation to VST/VS LLC.
Upon completion, VS LLC (with VST as sole member) shall hold all assets previously owned by the original Foundation, governed ultimately by the 21 BPs via 15/21 MSIG.
## 5. Duration of the Transition Team
Begins upon 15/21 approval of this memorandum and automatically ends upon the public announcement described in Section 2(3). No additional MSIG is required for dissolution.
## 6. Transition Team Members
- Francis – Block Producer 1Dex (bp.1dex), https://1dex.com/
- Dario – Block Producer EOS Support (eossupportbp), https://blockzhub.io/
- Adam – Block Producer EOS Detroit (eosiodetroit), https://detroitledger.tech/
- Peter – Block Producer Newdex (newdex.bp), https://newdex.io/
- Tim – Block Producer Genereos (aus1genereos), https://www.genereos.io/
- Raven – Block Producer Defibox (bp.defi), https://defibox.io/
- Lynn Wang – Vaulta Labs, https://labs.vaulta.com/
- Vincent – Former Vaulta Foundation, www.vaulta.com/
- Beatrice Wang – Former Vaulta Foundation, www.vaulta.com/
- Benjamin Gorman – Former Vaulta Foundation, www.vaulta.com/
Authors of the Proposal: 1DEX, EOS Support, Detroit Ledger Technologies (prev EOS Detroit)
Submitting Entity for the Initial On-Chain Intent: 1DEX
### Change Note – Key Summary
- Completely removed the internal 4/7 multi-sig mechanism and any tiered member structure – all 10 members are now listed equally with no internal multi-sig of any kind.
- Added a clear internal decision-making process: all ideas and recommendations must first be openly discussed in the 10-person Transition Team group chat; after discussion, Francis as Team Lead makes the final call on behalf of the team.
- Major structural changes (e.g., switching to Wyoming DAO LLC) now explicitly require 15/21 BP approval via MSIG.
- Budget requests for entity formation and professional services go directly to Treasury or Labs under their existing rules.
- Team disbanding is fully automatic upon public announcement with a 7-day objection window – no final MSIG needed.
### Attachements
Vaulta Foundation Transition, 1st proposal:
https://unicove.com/en/vaulta/transaction/560755ec7dd52bd5c535c4e8c483cac3fc78ebfc877893f24d0ca0427c59a988
Approved MSIG, 1st proposal:
https://unicove.com/en/vaulta/msig/bp.1dex/vst.creation