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DAO_Amendment_AntiWhale_Governance.pdf

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Description

AMENDMENT NO. 1 TO THE OPERATING AGREEMENT OF Beagle LFTY0454 DAO LLC This Amendment No. 1 (“Amendment”) to the Operating Agreement (“Agreement”) of Beagle LFTY0454 DAO LLC (the “DAO”) is adopted by the Members pursuant to Article IX and the unanimous consent requirements therein. This Amendment supplements and supersedes certain voting and governance provisions of the Agreement. All capitalized terms retain the meaning assigned in the Operating Agreement. ARTICLE X — ANTI-CONCENTRATION GOVERNAN

Extracted Content

AMENDMENT NO. 1 TO THE OPERATING AGREEMENT OF Beagle LFTY0454 DAO LLC This Amendment No. 1 (“Amendment”) to the Operating Agreement (“Agreement”) of Beagle LFTY0454 DAO LLC (the “DAO”) is adopted by the Members pursuant to Article IX and the unanimous consent requirements therein. This Amendment supplements and supersedes certain voting and governance provisions of the Agreement. All capitalized terms retain the meaning assigned in the Operating Agreement. ARTICLE X — ANTI-CONCENTRATION GOVERNANCE MECHANISMS Section 10.01 — Quadratic Governance Voting Standard 1. Notwithstanding Section 10 of the Agreement, all Member voting rights shall be calculated using a Quadratic Voting mechanism: Voting Power = √(Membership Tokens Held) 2. Quadratic voting shall apply to all matters requiring Member approval. 3. The underlying smart contract shall implement and enforce this standard pursuant to Section 17-31-106 of the Wyoming DAO Supplement. Section 10.02 — Per-Wallet Voting Power Caps 1. No Member may exercise more than 25% of total voting power on any proposal. 2. Wallets acting in coordination shall be treated as a single Member. 3. Wallets holding fewer than 50 tokens are exempt unless