# kaal:claim:3949098-036

**Claim.** The DAOIC pools no assets: the smart contract releases each member's deposit directly to the project after validation pool approval, and returns on purchases are likewise not pooled but paid pro rata to members in proportion to their reputation token holdings.

**Type.** design  **Support.** argued

**Holds when.**

- non custodial DAOIC model coordinated by smart contracts

**Source quote.**

> releases the deposit directly to the project. No pooling of assets takes place. The ROP from each deal is also not pooled but rather paid out pro rata to the DAOIC members in proportion to their RNFT holdings.

**From.** Wulf A. Kaal, *Reputation as Capital – How DAOs Upgrade Finance* (2021), IV. Policy Considerations, 4. Decentralized Coordination, page 31

**Cite as.** Wulf A. Kaal, Reputation as Capital – How DAOs Upgrade Finance (2021). SSRN: https://ssrn.com/abstract=3949098

**Verify.** sha256 of source PDF `04297905564a6092b2db7640561f58fd374d3114c79527357bad09d11b909819` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202021%20-%20Reputation%20as%20Capital%20%E2%80%93%20How%20DAOs%20Upgrade%20Finance.pdf

**Topics.** smart-contracts, decentralization, institutional-design

**Keywords.** non-custodial, asset-pooling, smart-contracts, investment-club, decentralized-coordination

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.