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Jason Novack
Integral Labs
Jason Novack is an accomplished professional with a diverse background in venture partnerships, technology, business operations, and product management. He holds an MBA from Vanderbilt University - Owen Graduate School of Management and a Bachelor of Science in Aerospace Engineering from Washington University in St. Louis. Jason has held key roles in various organizations, including Graph Paper Capital, Public Artifacts, and Integral Labs. At CNN, he served as the General Manager of Vault and later as the Senior Director of Web3 & Emerging Products. He also worked at ConsenSys Mesh as the General Manager of Tachyon Accelerator and the Strategy & Operations Lead at ConsenSys Labs. Furthermore, Jason has experience as the Founder & COO of Pilotship, Director of Business Operations at Clarifai, and in product management roles at Placemeter and Gust. His early career involved venture analysis at the Nashville Entrepreneur Center and aerospace systems engineering at Leonardo DRS.
Highlights
Over the past two years, Integral Labs had the privilege of contributing to the creation of the Polkadot Community Foundation.
Polkadot has already pioneered one of the most active and robust DAO governance systems to date, including tokenholder management of a nine-figure treasury. As the DAO continues to mature, the need to represent and serve tokenholders’ interests off-chain has become increasingly apparent. That’s where the Polkadot Community Foundation comes in.
Designing the corporate structure, governance, and operating model, Integral Labs joined a working group led by our friends at Actum Node with a mission to extend the reach of Polkadot's onchain governance into the offchain world.
This project was a first in the industry, with a novel design that stands apart from traditional DAO "wrapper" structures. Unlike foundations that subsume treasury assets and delegate limited powers back to the DAO, the Polkadot Community Foundation works as an optional, unopinionated side-car entity that any DAO member may utilize in their proposals. This ensures the DAO retains full autonomy and control of its treasury while enabling offchain activities such as holding real world assets, entering commercial agreements, making fiat payments, owning IP, and more—all for the benefit of, and under the explicit direction of, the tokenholders.
The governing documents and bylaws are open source and available for future use by Polkadot or other DAOs. We hope is that this modular design becomes a blueprint for a future constellation of real-world businesses to permissionlessly cooperate and compete to serve DAOs by extending their existing onchain governance systems.
The Polakdot community voted with over 98% support to establish the Polkadot Community Foundation. Now incorporated, community members have begun to publish treasury proposals that utilize the foundation, including the creation of what will be the first mobile app owned by an open community, and increasing accountability for vendors and service providers in the ecosystem.
You can read more here: https://lnkd.in/ebCJKsjD
Integral Labs is proud to have contributed to this project alongside Michael D'Alto of Actum Node, James Hutchings, ACA, CFA, Theo Louw, Michael Preston, and Kevin Foster-Archibald CA(SA) of Autonomous, Edward Noyons of Marfire, Matthew Shaw and Gregory Peacock of Webslinger Advisors, Glenn Kennedy of Leeward Management Limited, Jonathan Bain of Bridgestream, Ignatius N., Jonathan Hernandez, and David Manadom (formerly) of Fenwick & West, Melissa Lim and Justin Wretham of Walkers, Björn Wagner, Raul Ignacio Romanutti, Dieter Fishbein, and the Polkadot community.
Yesterday Integral Labs helped our client finalize a $4.5 million acquisition, in what I believe is one of the most significant DAO-to-DAO mergers in history.
In April, we began contributing to the initial product and governance design for a niche community DAO. After launch, we stayed on to lead day-to-day operations and finance.
Recently, the client was approached with an acquisition offer by a team incubating a complimentary DAO. Integral advised on deal structure and negotiation, and helped present the agreement to the community. After an engaging discussion period, the 450 members voted with 85% turnout to approve the deal, with 83% voting in favor.
After the public announcement, both our client and its acquirer saw increased engagement and inbound membership interest. We spent the past week executing the deal and integrating the two operations.
It’s been a great journey to help this community realize their vision and be rewarded for it. Congratulations to everyone involved!
