Update from Cedar DAO Interim Committee – June 6, 2025

The Cedar Interim Committee is committed to seeing this process through. We are an 11-person committee made up of both former team members and long-term holders. Our goals are aligned with the community: restore momentum, build in public, and complete the transition to a transparent, functioning DAO.

It’s been four weeks since launch. While much of the work has happened behind the scenes, we know the community wants visibility. That starts now. Going forward, we’ll be publishing regular updates highlighting what the committee has been working on. Here’s a summary of key developments:

Operations and Transition

• The token launch was carried out by the former Project Team. The committee assumed oversight immediately after and secured control of all key infrastructure.
• Multisig wallets were created to manage treasury and operations funds. 
• Internal systems have been built for budgets, payments, payroll records, NDAs, and documentation access.
• Staff compensation is now handled through a structured weekly process.

Communications and Community

• The official Cedar Twitter account is actively managed with regular updates and community engagement.
• A community giveaway was launched and completed.
• A draft newsletter has been submitted and is being integrated into the website.
• New community engagement initiatives are being prepared.
• Multiple Twitter Spaces have been hosted post-launch, with more planned.

Legal and Governance

• A legal sub-committee was formed to lead the DAO’s legal structuring and foundation setup.
• Work is underway on legal research, draft bylaws, governance frameworks, and tax implications for contributors.
• A formal legal request for proposal (RFP) was circulated to multiple law firms, with calls ongoing.
• A risk management plan is in development.

Budget and Structure

• Salary and role proposals were debated and revised over several rounds before reaching a final version.
• A post-budget vote summary is being prepared to provide full transparency.
• An accounting sub-committee is forming and researching cloud-based systems to ensure financial oversight.
• Internal role alignment is ongoing to clarify responsibilities within the committee.

Cedar Rewards Development

• A rewards mechanism is under development by the CTO.
• It will be able to support distribution of rewards from multiple sources: LP fees, utility revenue, and promotional/partner contributions, etc.
• Rewards will be deliverable in any Solana-based token, including SPL and 2022 token formats.
• A dashboard is being built to display pending rewards, historical earnings, and total distributions.

Looking Ahead

• Finalizing selection of legal counsel and DAO foundation structure
• Publishing budget and governance summaries
• Implementing tooling integrations and community engagement plans
• Continuing to increase transparency and maintain momentum

We know the pace hasn’t been perfect — but meaningful progress is being made. These regular updates are one part of a broader effort to build Cedar into a transparent, decentralized, and community-led project. We are Cedar!

— The Cedar Interim Committee