Premise

• A collection of web3 investors sharing dealflow with each other and with a general DAO community that anyone can join by getting tokens.

Structure

• The DAO raises funds from anyone who wants to contribute ("Players"): Players might number in the 100s or 1000s. A round table of 13 of the top web3 investors ("Stewards") share dealflow with each other and make joint decisions on how to invest the DAO's funds: Stewards will be capped at 13 people but may expand or contract in future at group's discretion.
• Players can invest up to $100-1000 annually in the DAO's fund with proper KYC. Investing up to $5000 annually in the DAO requires 50 $ROUND tokens; investing up to $10,000 requires 75 $ROUND tokens, and so on. (Numbers variable depending on supply, with a "max fund size" determined in advance). Nobody can invest more than $100,000 in the DAO in order to prevent crowding-out of retail investors and competition with the Stewards' own funds taht they run themselves. The $ROUND token is essentially a ticket for membership: it gives anyone the right to invest their own separate money in projects (pending KYC) but does not constitute part of the investment in projects itself.
• Each of the 13 Stewards presents a deal to the group every season (three months), total of four deals per year. The group can vote to meet with the founder and then whether to invest. Majority decision is required (quadratic voting is a possibility as well).
• The $ROUND token is also a governance token that lets Players who hold tokens vote to ratify and invalidate the round table's decisions; if a project is invalidated by the community, Round DAO will invest funds in repurchasing $ROUND on the market instead to support the price of the token. For Round DAO to invest in a project, then, it needs to be considered a better investment than Round DAO itself.
• Players who hold tokens can also propose projects to invest in as well (including their own), and if they get enough backing from the community to support the project, these will be presented to the Round Table each season in a livestream; if they are approved, the proposer will be paid a portion of $ROUND from the treasury.
• There is no carry—carry is effectively replaced by tokenization.

Benefits for round table participants

• Round DAO is essentially a plug-in for builders in the space to share dealflow and benefit from each other's insight. Effectively, the top web3 funds will share their best deals with one another, as well as notes, insights, and criticisms to support each other's decisions—while opening up access to anyone to invest alongside them.
• Supporting founders by introducing them easily to other top investors and a wide community of supportive investors who would be actual users of their products.
• Democratizing access to deals by involving a popular, crypto-native community that can do the real work in supporting web3 protocols.
• Publicity, education, and community-building as a way to share thoughts and strategies with anyone interested in investing with the DAO.
• Appreciating token value. Successful performance should drive demand for the token, though since the token is not a security, there can be no expectation of a return.

Benefits for founders

• Signaling from having top web3 investors invest.
• Access to pitch 13 top investors at once rather than through 13 separate meetings (savings time: one full day).
• Empathetic and brilliant investors who actively support deals by crafting narratives (for internal and external use), connecting to talent and protocols, giving insight, and, yes, being a shoulder to cry on.
• Backing of and access to a popular, crypto-native community that can support the protocol as fans, devs, etc.