Yummi Universe - defend the ADA community against Yummi rugpull (Nick)

[GENERAL] Name and surname of main applicant

Michiel Van Roey

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

2

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

I am working on a legal memorandum and public notion page with my findings so people know what happened and can take action against the relevant stakeholders.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No dependencies

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] Please provide here more information on the open source status of your project outputs

Everyone in the ADA community will be able to read the legal memandum and notion page and take action (either via their own lawyer or via me).

[METADATA] Horizons

Community Outreach

[SOLUTION] Please describe your proposed solution

2 deliverables are the outcome of my extensive research and interviews about this (legal) case:

1. A legal memorandum describing the facts; the legal framework and then the legal advice on what happened and which actions can be taken.

2. A notion page which includes a lot of my research and fiindings, including sources.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

Many Cardano community people lost a lot of money which they invested in Yummi cards or projects. Via this advice, people affected will be able to decide if and how they can take action to attempt to obtain their money back.

The second impact is one of deterrance, showing the Cardano community that we collectively do not allow this kind of behaviour in our community.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

I am a technology and WEB3 lawyer with 12 years experience as a registered bar lawyer in Belgium, practicing tech and recently WEB3 law for clients worldwide. I have proven experience that I can assess a legal case and provide guidance. https://www.linkedin.com/in/michielvanroey/

I am also a long term Cardano community member, as the founder of Profila (https://profila.com), working in the community for over 5 years. We have delivered 10 Catalyst projects succesfully, which shows that we can be trusted.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

"Document collection and interviews".

This includes the following key documents (not exhaustive):

• Yummi sale terms and conditions
• Contracts between Yummi and Nick (+ other team members) for the sale of the Yummi assets

Interviews with team members and affected community members.

"Setup Notion page"

Repository for all documents, interview notes, legal texts etc.

"writing legal memorandum"

Writing the facts, legal framework, and applying the legal framework to the facts to assess which legal infractions have been made by Nick Jorens (and potentially other team members), advising the community which steps they can take.

"Setup X Spaces"

I will host a public space on X to discuss my findings and talk to the community on how to proceed. NIck Jorens and other team members can be invited to explain their case (if they desire to do so).

[RESOURCES] Who is in the project team and what are their roles?

Michiel Van Roey:

• Long term Cardano community member
• Lawyer registered at the Brussels Bar in Belgium (Europe)
• Specialized in tech law (and WEB3)
• Role:
• Legal researcher
• Legal writer
• Host of Spaces

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

50.000 ADA for approx 100 hours work over 2 monts, at approx 500 ADA per hour (= 150 EUR is my hourly fee).

Milestone 1 - docs and interviews

• 30 hours = 15.000 ADA
• timeline = week 1 and 2

Milestone 2 - notion page

• 10 hours = 5.000 ADA
• timeline = week 1 and 2

Milestone 3 - write memo

• 50 hours = 25.000 ADA
• timeline = week 3 to 6

Milestone 4 - spaces setup and run

• 3 hours = 1.500 ADA
• timeline = week 7 to 8

Reporting - 7 hours = 3.500 ADA

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

According to my initial assessments, the rugpull has affected douzens of people for more than a million USD (or 3 million ADA), and this is just a rough assessment.

This limited community budget would allow all these douzens of people to better understand how to claim back (parts of) the funds that were stolen.