Arouet Holdings (“Arouet”) is seeking a Cardano Community Director to serve in a voluntary position on its Board of Directors. This role serves as a direct touchpoint between the Cardano Community and Arouet’s contributions to the Draper Dragon Orion Fund (“Orion Fund”) using Treasury funds. This is an unpaid, voluntary role.
In addition to any further standard legal and fiduciary duties of Cayman Islands directors, the Community Director will be responsible for:
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Reviewing Orion Fund performance and executing legal agreements on behalf of Arouet as determined by the Board of Directors, this is required after each Treasury Withdrawal;
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Reviewing Orion Fund community reporting;
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Attending periodic board meetings as determined by the Board of Directors, not less than annually;
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Reviewing and executing resolutions as determined by the Board of Directors, e.g. this is required after each Treasury Withdrawal;
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Fulfilling necessary reporting requirements from time to time and maintaining required company documentation;
The Board of Directors is under the supervision of a Supervisor appointed per Cayman Islands law to ensure Arouet’s operation in accordance with its company statutes and ensure its ongoing governance.
NOTE: The Board of Directors does not have discretion over the investments made by the Orion Fund. The Board of Directors will, however, have access to Orion Fund performance information and can ensure that the necessary communications are reflected in Orion Fund community reporting.
Please note that dates below are estimates and may shift based on the number of applicants received, voting participation, and the results audit. We will communicate any changes to the Community in advance.
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Application window opens: 29 June 2026
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Application window closes: 3 August 2026
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Application review and interviews: 4 August 2026 - 4 September 2026
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Communication to the community of shortlisted applicants: 21 September 2026
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Voting commences: 12 October 2026 - 2 November 2026
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Results announced: 9 November 2026
Applicants must meet the listed requirements and may be asked to participate in an interview. The Arouet directors will review applications to ensure that applicants are eligible for the position.
After the application window closes, the top 7 eligible candidates will be put forward for Community voting via a CIP-0179 survey. This survey will be published to the Community via an Info Action to ensure its visibility and produce maximum participation. A vote on the Info Action itself, which only links to the survey, will not be considered. DReps will be able to vote on the survey to select their preferred candidates. If Arouet receives fewer than three applicants which meet the eligibility criteria, it may extend the application window or conduct a new round of applications to ensure sufficient quality and choice for DReps.
The winning candidate will be selected by DReps who will rate candidates from most to least preferred using a single-winner election method, with the two runners-up serving as alternates in case the elected candidate withdraws prior to their formal appointment as a director. The shortlist of 7 is a deliberate choice to receive the most accurate results via the survey and vote count. If the number of suitable applicants far exceeds the shortlisted number, multiple voting rounds may be required, Arouet will communicate if this is needed in advance.
The candidate selected by Community voting will be formally appointed and onboarded to the Board of Directors of Arouet. If the elected candidate withdraws prior to onboarding or resigns within 12 months of the election process, the runner up will be onboarded instead. If the runner up is not able to be appointed, then a new director selection will commence in consultation with the Community.
Eligible applicants are expected to have the following experience:
Investment Experience
Demonstrable experience in venture capital, private equity, or funds.
Cardano Knowledge
Proven familiarity with the Cardano blockchain, its technological and governance components, and the structure of the Cardano ecosystem.
Fiduciary Experience
Prior experience as a director or comparable leadership role with fiduciary duties.
Applicants must fulfil the following requirements in order to be eligible for the role:
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Submit a Complete Application: See 3. below for the required documents.
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Conflicts of Interest: Applicants must disclose any potential conflicts of interest between other roles and this role.
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Background Check: Applicants should provide a formal background check or certification that they do not have a criminal record.
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Residence/Nationality: Applicants may not be subject to any sanction, regulation or law promulgated by the United States Treasury’s Office of Foreign Assets Control, any other U.S. governmental entity or the United Nations. This list may vary from time to time. The applicant may not reside in or be a national of:
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Afghanistan
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Balkans (Western)
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Belarus
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Myanmar
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Central African Republic
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Cuba
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Democratic Republic of the Congo
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Ethiopia
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Haiti
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Hong Kong
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Iran
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Iraq
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Lebanon
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Libya
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Mali
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Nicaragua
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North Korea
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Russia
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Somalia
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South Sudan
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Sudan
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Syria
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Ukraine (Specifically the occupied regions: Crimea, Donetsk, and Luhansk)
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Venezuela
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Yemen
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Additionally, applicants should be aware of the following:
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Indemnity and Insurance: Arouet will not provide individual insurance coverage or an indemnity.
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Fiduciary Duties: Successful applicants will be expected to fully comply with all fiduciary duties and legal responsibilities associated with a Director of a Cayman Islands Foundation Company. The Community Director will have the same legal duty to act in the best interests of Arouet as the other directors have.
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Confidentiality: While this project aims to achieve maximum transparency to allow DReps to review the Orion Fund’s performance, certain information might be confidential and the Community Director will be subject to confidentiality obligations. The director will be required to sign a non-disclosure agreement to this effect.
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Time Commitment: Directors will be required to attend regular board meetings and dedicate sufficient time to review materials and provide necessary oversight. This will entail reviewing director resolutions, legal agreements, communications with legal advisors, Orion Fund performance information, and at least one meeting each year, which can be attended virtually.
The position is not remunerated at present, this may be re-evaluated in subsequent years if required for sustainability purposes, however it is Arouet’s desire to maintain low operating expenses.
The following documents will be required to be submitted to Arouet Holdings after the application window opens:
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Curriculum Vitae (CV) or Resume
This must list:
a) An individual’s name, nationality and country of residence (address and other
relevant personal details will be obtained for the purposes of the board
appointment once the applicant is elected).b) Relevant degrees and certifications
c) Relevant experience, including specific VC and Cardano experience
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A motivational letter. Please note that this will be made public.
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Disclosure of potential conflicts of interest (e.g. positions held on other boards)
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Formal background check or certificate of no criminal record
The Cardano Foundation will be managing this application process for Arouet, in its capacity as constitutional administrator. Personal information collected during this process is solely for the purpose of facilitating applications for the directorship position and for evaluating candidates for their suitability in line with the above requirements. Please refer to the Cardano Foundation’s privacy policy for more information on how we process personal data.
If there is sufficient engagement to tally a definitive winner after one round, further voting rounds will not be needed. Acknowledging that this is the first time that CIP-0179 is being used for the appointment of a director to a legal entity using this particular voting methodology (using stake based voting by registered DReps with multiple voting options), it is possible that issues may arise. If the winner withdraws at a later stage, there is insufficient engagement, or if there are any unforeseen issues with the first voting round, then additional rounds may be held to appoint the director.