OVERVIEW EFFECT FUNDRAISING MISSION

Official Terms, Conditions, and Rules

Go to Space with Frank White

Organized by MoonDAO
moondao.com/overview | moondao.com/frank

Effective Date: March 12, 2026
Last Updated: March 21, 2026

1. Introduction and Purpose

These Terms, Conditions, and Rules (“Terms”) govern participation in the Overview Effect Campaign (“Campaign”), organized by MoonDAO DAO LLC (“MoonDAO”) and associated entities. The Campaign is a community-driven fundraising initiative to send Frank White, author of “The Overview Effect,” to space alongside one community member selected through a merit-based, multi-stage selection process.

By participating in the Campaign in any capacity, whether as a contributor, candidate, voter, or otherwise, you (“Participant”) acknowledge that you have read, understood, and agree to be bound by these Terms in their entirety. If you do not agree to these Terms, do not participate in the Campaign.

These Terms may be amended from time to time as described in Section 16. Continued participation following any amendment constitutes acceptance of the revised Terms.

2. Definitions

“$OVERVIEW Token” means the governance token issued to Contributors proportional to their contribution. $OVERVIEW is not a security, investment instrument, financial asset, or currency. It is a governance token whose sole function is to provide voting power within the Campaign’s selection process and mission governance decisions.

“Campaign” means the Overview Effect fundraising campaign hosted on MoonDAO’s Launchpad platform, including all associated selection rounds, voting mechanisms, and governance processes.

“Candidate” means any eligible MoonDAO Citizen who enters the Selection Process to compete for a seat on the spaceflight alongside Frank White.

“Contributor” means any individual or entity that provides funds to the Campaign via the Smart Contract on MoonDAO’s Launchpad.

“MoonDAO Citizen” means a registered member of the MoonDAO community holding valid Citizen NFT status.

“Organizing Entity” means William Frank White LLC or its designated successor, which receives the primary disbursement of Campaign funds for mission execution.

“Selection Process” means the four-stage, merit-based evaluation process described in Section 7 of these Terms.

“Smart Contract” means the on-chain, programmatic contract deployed on MoonDAO’s Launchpad that holds and manages Campaign funds, refund mechanisms, and token distribution.

“$vMOONEY” means MoonDAO’s native governance token, used in the final round of the Selection Process.

“Campaign Goal” means the full fundraising target of 965 ETH (approximately $2,000,000 USD at current rates), designed to fund two seats to sub-orbital space.

“Minimum Goal” means 25% of the Campaign Goal (approximately 241 ETH), the minimum threshold below which the Campaign is declared a failure and full, programmatic refunds are issued. This amount represents the bare minimum required to pursue any viable mission profile.

“Milestone Goals” means the intermediate funding thresholds that determine the available mission profile. These are defined in Section 4.3 and include: (a) 25% of the Campaign Goal, two stratospheric balloon tickets; (b) 50% of the Campaign Goal, one suborbital seat for Frank White above the Kármán line; and (c) 100% of the Campaign Goal, two suborbital seats (Frank White + one community-selected Candidate). Specific mission-profile decisions are subject to $OVERVIEW token holder governance, as ETH price fluctuations may affect the purchasing power of funds raised.

“Stretch Goals” means any funding raised beyond the Campaign Goal (965 ETH), which may be allocated toward additional seats, an orbital mission, or other enhanced experiences as determined by $OVERVIEW token holder governance votes.

3. Nature of the $OVERVIEW Token

3.1 Governance Purpose Only

The $OVERVIEW token exists solely for governance purposes within the Campaign. It confers voting rights in the Selection Process and mission-related governance decisions. The $OVERVIEW token is not and shall not be construed as any of the following:

A security, equity, debt instrument, or investment contract of any kind
A financial asset, commodity, or store of value
A currency, medium of exchange, or payment instrument
A representation of ownership in MoonDAO, the Organizing Entity, or any other entity
An instrument carrying any expectation of profit, return, or financial gain
A lottery ticket, sweepstakes entry, or chance-based game piece

3.2 No Investment or Speculative Value

Contributors acknowledge and agree that $OVERVIEW tokens carry no expectation of profit and have no speculative or market value. Contributions to the Campaign are made for the purpose of supporting the mission and participating in governance. Contributors shall not expect any financial return on their contribution.

3.3 Token Issuance

$OVERVIEW tokens are issued on the Arbitrum One Layer 2 proportionally to contributions at a rate of 1,000 $OVERVIEW per 1 ETH (or equivalent value in supported currencies). Tokens are issued automatically by the Smart Contract upon receipt of a valid contribution.

4. Campaign Structure and Timeline

4.1 Fundraising Period

Launch Date: Thursday, March 12, 2026
End Date: Monday, April 27, 2026
Campaign Goal: 965 ETH (approximately $2,000,000 USD at current rates)
Platform: MoonDAO Launchpad (moondao.com/frank)

4.2 Fund Allocation

Upon successful completion of the Minimum Goal or beyond, funds are allocated as follows:

90% disbursed to the Organizing Entity multi-signature wallet (“Overview Team” owned by the Organizing Entity) for mission execution, including flight procurement, logistics, and related expenses. 1% of which will be donated to Space Camp USA to train and inspire the next generation of astronauts.
2.5% to MoonDAO treasury for operational support.
2.5% to the JuiceBox protocol.
5% retained on-chain in Smart Contracts for token liquidity.

4.3 Mission Scope and Milestone Goals

The Campaign Goal of 965 ETH is designed to support two suborbital seats to space: one for Frank White and one for a community-selected Candidate. The Campaign is carrier-agnostic; the specific launch provider, mission profile, and launch site location will be determined based on total funds raised, provider availability, and community governance decisions.

The mission profile scales with funding according to the following Milestone Goals:

Below 25% (less than 241 ETH): Campaign is declared a failure. Full refunds are issued to all Contributors (see Section 8.1), in ETH minus gas or transaction fees.
25% of Campaign Goal (approximately 241 ETH): Minimum Goal met. The Campaign proceeds with a minimum viable mission of two stratospheric balloon tickets.
50% of Campaign Goal (approximately 483 ETH): Sufficient for one suborbital seat above the Kármán line for Frank White.
100% of Campaign Goal (965 ETH): Full mission, two suborbital seats (Frank White + one community-selected Candidate).
Above 100%: Stretch Goals, the community of $OVERVIEW token holders votes on enhanced mission options, which may include additional seats, an orbital mission, or other experiences.

These thresholds are approximate. Fluctuations in ETH price relative to fiat currency may shift the purchasing power of raised funds up or down. $OVERVIEW token holders will make specific mission-profile decisions based on available funds, carrier options, and provider availability at the time of mission planning, provided the Minimum Goal of 241 ETH is reached.

5. Merit-Based Selection

The Selection Process for the community seat is not a lottery, sweepstakes, raffle, or game of chance. It is a merit-based, multi-stage evaluation process primarily governed by the $OVERVIEW token, although certain stages incorporate additional evaluation criteria from independent sources including artificial intelligence evaluation, professional astronaut review, and $vMOONEY community governance voting.

At no stage of the Selection Process is advancement determined by random chance, luck, or automated random selection. Each round involves deliberate evaluation based on defined criteria, community support, demonstrated merit, and substantive review by qualified evaluators.

Receiving $OVERVIEW tokens in exchange for a contribution does not constitute purchasing a chance to win. The tokens confer governance rights. Candidacy is a separate process available only to eligible MoonDAO Citizens, and advancement through the Selection Process depends entirely on voting and merit-based performance across multiple evaluation stages.

6. Eligibility

6.1 Contributor Eligibility

Any individual or entity may contribute to the Campaign, subject to applicable laws and regulations in their jurisdiction. Contributors do not need to be Citizens or have any affiliation with MoonDAO.

6.2 Candidate Eligibility

To be eligible to enter the Selection Process as a Candidate, an individual must:

Be a registered MoonDAO Citizen prior to voting end date. Any individual who contributes $100 USD or more to the Campaign may register as a MoonDAO Citizen at no additional cost. No contribution to the Campaign is required to compete for the second seat.
Not be Frank White, a member of the MoonDAO Executive Branch, or any MoonDAO Citizen who has already been to space.
Be willing and able to undergo Know Your Customer (KYC) verification if they advance to Round 2.
Hold a valid passport and be eligible to obtain a travel visa to the United States (or the launch provider’s country, if different).
Meet any physical, health, or age requirements imposed by the selected launch provider, as determined at the time of flight.
Be 18 years of age or older.

6.3 Voter Eligibility

Voting in Round 1 is open to all $OVERVIEW token holders. Voting in Round 4 is open to all $vMOONEY token holders. Voting rights are proportional to token holdings with $OVERVIEW whereas $vMOONEY uses staked quadratic voting per the MoonDAO Constitution.

7. The Selection Process

The Selection Process consists of four rounds designed to progressively narrow the field from all eligible MoonDAO Citizens to one finalist through a combination of community support, substantive evaluation, expert review, and governance voting.

7.1 Round 1: Community Fundraising

Objective: Determine which Citizens have the broadest community support and ability to mobilize financial backing for the mission.
Mechanism: Contributors allocate (pledge or back) their $OVERVIEW tokens to one Candidate of their choosing. Votes are recorded on-chain and transparently verifiable. Contributors may change their vote up until the closing date. Voting does not use or burn $OVERVIEW tokens, which remain securely in the Contributor wallet.
Visibility: A public, real-time leaderboard displays rankings throughout the voting period.
Advancement: The 25 Citizens with the greatest amount of $OVERVIEW tokens pledged to their name advance to Round 2.
Timeline: Voting closes no later than 14 days after the fundraiser end date.

7.2 Round 2: AI Evaluation

Objective: Evaluate Candidates’ openness, preparation, and potential impact through a written assessment.
Prerequisite: Before this round commences, all 25 advancing Candidates must complete KYC verification and provide a copy of their passport and/or proof of eligibility to travel to the United States. If any of the Candidates fail to complete the KYC or otherwise deemed ineligible, backup Candidates will be selected in order of runners-up voting until the 25 available spaces are filled.
Task: Each Candidate submits a written essay of no more than 1,000 words answering a specific written prompt about the Overview Effect. An AI model evaluates each essay on a scale of 1–10 across three or more criteria inspired by Frank White’s Overview Effect formula.
Advancement: The 10 Citizens with the highest composite scores across those criteria advance to Round 3.
Timeline: No later than 4 weeks after advancing from the previous round: up to 2 weeks for KYC/passport/visa verification and essay submission, up to 2 weeks for AI evaluation and results.

7.3 Round 3: Astronaut Committee Review

Objective: Expert evaluation by a group of astronauts to assess readiness, merit, and personal story.
Task: Each Candidate records a video responding to one or more prompts related to the Overview Effect and their candidacy.
Evaluation: A committee of professional and commercial astronauts individually ranks each Candidate from 1 to 10 based on who most deserves the opportunity to fly to space with Frank White.
Advancement: The 5 Citizens with the highest total scores from the astronaut committee advance to Round 4.
Timeline: No later than 4 weeks after advancing from the previous round: up to 2 weeks for video submission, up to 2 weeks for evaluations.

7.4 Round 4: Community Governance Vote

Objective: Give the broader MoonDAO community final say in who flies with Frank White.
Format: Finalists participate in one or more public conversations with MoonDAO, broadcast in video to the community.
Mechanism: The MoonDAO community votes using $vMOONEY governance tokens with staked quadratic voting as outlined in the MoonDAO Constitution. The Citizen who receives the greatest amount of $vMOONEY votes is selected as the winner.
Timeline: No more than 2 weeks: 1 week for presentations before the MoonDAO community, 1 week for voting.

7.5 Discretion and Modifications

MoonDAO reserves the right to make reasonable modifications to the Selection Process structure, timeline, or criteria if necessary to ensure fairness, comply with legal requirements, or address unforeseen circumstances. Any material changes will be communicated to all Participants in advance.

8. Refund Policy

8.1 Campaign Failure — Minimum Goal Not Met (Below 241 ETH)

If the Campaign does not reach the Minimum Goal of 241 ETH (25% of the Campaign Goal) by the end date, the Campaign will be declared a failure. A refund payhook will be enabled by MoonDAO on the Smart Contract, after which refunds will be automatically redeemable by Contributors. To claim a refund, Contributors burn (return) their $OVERVIEW tokens through the MoonDAO Launchpad platform and receive their proportional ETH back, minus any gas or transaction fees.

The refund window will remain open for 28 days from the date the refund payhook is enabled. Contributors who do not claim their refund within this window may forfeit their right to a refund. MoonDAO will communicate the exact refund window dates through all official channels.

8.2 Minimum Goal Met — Mission Proceeds (241 ETH or Above)

If the Campaign raises at least 241 ETH (the Minimum Goal), the Campaign concludes successfully and funds are disbursed per Section 4.2. Once funds are disbursed, full refunds are no longer possible due to protocol fees, fund allocation, and carrier commitments. The mission profile will be determined by the Milestone Goal reached, as described in Section 4.3, and $OVERVIEW token holders will vote on specific mission-profile decisions.

At this stage, Contributors accept that their contribution has been committed to mission execution and that no automatic refund mechanism exists. Any subsequent decisions regarding partial refunds, fund reallocation, or alternative mission profiles will be made through $OVERVIEW token holder governance.

8.3 Frank White’s Inability to Fly

If Frank White is medically unable to complete the spaceflight, as determined by the mission’s flight surgeon, Dr. N. Stuart Harris of Massachusetts General Hospital, or the flight carrier, a full refund will not be possible if funds have already been committed to carrier contracts or mission execution. In this event, Contributors will be offered the following options via $OVERVIEW token holder governance vote: (a) a partial refund in ETH minus any fees and committed expenditures; (b) selection of a worthy replacement ambassador to fly in Frank’s place; and/or (c) reallocation of funds to support the flight of the Candidate winner or other community members.

8.4 Refund Mechanism

Refunds, when available, are processed as follows: MoonDAO will manually enable a refund payhook on the Smart Contract. Once enabled, Contributors may burn their $OVERVIEW tokens through the MoonDAO Launchpad platform to automatically receive their proportional ETH back. This process is self-service and does not require manual approval once the payhook is active. The refund claim window will be open for 28 days from activation.

8.5 Refund Limitations

Refunds are processed in ETH regardless of the original method used to acquire ETH to contribute. MoonDAO and the Organizing Entity are not responsible for any changes in the value of ETH in fiat currency between the time of contribution and the time of refund. Transaction fees (gas fees) associated with claiming a refund or contributing are the responsibility of the Contributor. No fiat currency refunds will be issued under any circumstances.

9. Contributions and Tax Treatment

Contributions to the Campaign are not charitable donations and are not tax-deductible. All funds must be routed through the Smart Contract to ensure proper accounting and to preserve the refund mechanism.

Contributors are solely responsible for any tax obligations arising from their participation in the Campaign, including but not limited to income tax, capital gains tax, or any other taxes applicable in their jurisdiction. Neither MoonDAO nor the Organizing Entity provides tax advice.

10. Fund Management and Transparency

All Campaign funds are held on-chain via MoonDAO’s Launchpad Smart Contract during the fundraising period. All contributions and disbursements are transparent and verifiable on the blockchain.

Upon successful completion, 90% of funds are disbursed to the Organizing Entity’s multi-signature wallet. These funds must remain in the multi-signature wallet until a specific flight carrier is contracted and payment is required. The disbursement does not pass through MoonDAO.

The Organizing Entity will provide periodic transparency updates to the community regarding fund utilization, carrier negotiations, and mission planning milestones.

11. Assumption of Risk

11.1 Spaceflight Risks

Spaceflight is an inherently dangerous activity. By participating in the Campaign as a Candidate, and especially if selected for the flight, you acknowledge and accept that spaceflight involves significant risks including but not limited to: serious physical injury, psychological distress, permanent disability, and death. These risks exist regardless of the safety precautions taken by the launch provider, MoonDAO, or the Organizing Entity.

11.2 Health and Fitness

The selected Candidate must meet all health, fitness, and medical requirements established by the chosen launch provider. The Candidate will be required to undergo a medical evaluation and must be cleared by the launch provider’s medical team prior to flight. If a selected Candidate is found medically unfit to fly, the next-highest-ranked Candidate from the Selection Process may be offered the seat, subject to the same medical clearance requirements.

11.3 Campaign Risks

Contributors acknowledge and accept the following risks associated with participation in the Campaign:

Cryptocurrency volatility may affect the value of contributions between the time of contribution and any refund or flight execution.
Smart contract technology, while audited and tested, may contain undiscovered vulnerabilities.
Commercial spaceflight provider availability, pricing, and scheduling may change.
Regulatory changes may affect the Campaign’s ability to operate or execute the mission
The mission profile, timeline, or carrier may differ from initial projections.

12. Limitation of Liability and Indemnification

12.1 Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, MOONDAO, THE ORGANIZING ENTITY, FRANK WHITE, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND AFFILIATES (COLLECTIVELY, THE “CAMPAIGN PARTIES”) SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO PARTICIPATION IN THE CAMPAIGN, THE SELECTION PROCESS, OR THE SPACEFLIGHT, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, DATA, OR GOODWILL.

12.2 Indemnification

Each Participant agrees to indemnify, defend, and hold harmless the Campaign Parties from and against any claims, liabilities, damages, losses, costs, and expenses (including reasonable attorneys’ fees) arising out of or related to: (a) the Participant’s violation of these Terms; (b) the Participant’s participation in the Campaign or Selection Process; or (c) any misrepresentation made by the Participant.

12.3 Spaceflight Waiver

The selected Candidate will be required to execute a comprehensive liability waiver and assumption of risk agreement with the launch provider and the Organizing Entity prior to the spaceflight. Refusal to execute such waiver will result in forfeiture of the flight seat.

13. Intellectual Property and Content

By submitting an essay, video, or other content as part of the Selection Process, Candidates grant MoonDAO and the Organizing Entity a non-exclusive, royalty-free, worldwide license to use, reproduce, distribute, and display such content for Campaign-related purposes, including promotion, documentation, and educational initiatives. Candidates retain ownership of their original content.

The selected Candidate and Frank White agree to participate in reasonable documentation and media activities before, during, and after the spaceflight, including but not limited to interviews, photography, videography, and written accounts of their experience, as coordinated by the Organizing Entity.

14. Privacy and Data Protection

MoonDAO and the Organizing Entity will collect and process personal data as necessary for Campaign administration, including KYC verification, eligibility determination, and communication with Participants. Personal data will be handled in accordance with applicable data protection laws.

On-chain transactions, including contribution amounts and $OVERVIEW token allocations, are publicly visible on the blockchain by nature. Participants acknowledge that this information cannot be made private after it is recorded on-chain.

15. Dispute Resolution and Governing Law

15.1 Governing Law

These Terms shall be treated as though they were executed and performed in the State of New York and shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflict of law principles. For matters pertaining to the Organizing Entity, the laws of the Commonwealth of Massachusetts, the state of incorporation of the Organizing Entity, shall apply.

15.2 Dispute Resolution

The parties hereby agree to arbitrate all claims that may arise under and/or relate to the Competition and/or these Terms. Without limiting the foregoing, should a dispute arise between the parties including, without limitation, any matter concerning the Competition, the selection process, the Awards, the terms and conditions of these Terms, or the breach of same by any party:

(a) the parties agree to submit their dispute for resolution by arbitration before the American Arbitration Association (“AAA”) in New York, NY, in accordance with the then-current Commercial Arbitration Rules of the AAA; and

(b) you agree to first commence a formal dispute proceeding by completing and submitting an Initial Dispute Notice to the Covered Party or Parties named therein (collectively, the “Named Parties”). The Named Parties may choose to provide you with a final written settlement offer after receiving your Initial Dispute Notice (“Final Settlement Offer”). If the applicable Named Party or Parties provide you with a Final Settlement Offer and you do not accept it, or such Named Party or Parties cannot otherwise satisfactorily resolve your dispute and you wish to proceed, you must submit your dispute for resolution by arbitration before the AAA, in your county of residence, by filing a separate Demand for Arbitration.

For claims of Ten Thousand Dollars ($10,000.00) or less, you may choose whether the arbitration proceeds in person, by telephone, or based only on submissions. If the arbitrator awards you relief that is greater than the applicable Final Settlement Offer, then the Named Parties will pay all filing, administration, and arbitrator fees associated with the arbitration and, if you retained an attorney to represent you in connection with the arbitration, the Named Parties will reimburse any reasonable attorneys’ fees that your attorney accrued for investigating, preparing, and pursuing the claim in arbitration. Any award rendered shall be final and conclusive to the parties, and a judgment thereon may be entered in any court of competent jurisdiction. Although the Named Parties may have a right to an award of attorneys’ fees and expenses if the Named Parties prevail in arbitration, the Named Parties will not seek such an award from you unless the arbitrator determines that your claim was frivolous.

15.3 Class Action Waiver

TO THE FULLEST EXTENT PERMITTED BY LAW, YOU AGREE THAT YOU WILL NOT BRING, JOIN, OR PARTICIPATE IN ANY CLASS ACTION LAWSUIT AS TO ANY CLAIM, DISPUTE, OR CONTROVERSY THAT YOU MAY HAVE AGAINST ANY OF THE COVERED PARTIES. You agree to the entry of injunctive relief to stop such a lawsuit or to remove you as a participant in the suit. You agree to pay the attorneys’ fees and court costs that any Covered Party incurs in seeking such relief. This provision: (i) does not constitute a waiver of any of your rights or remedies to pursue a claim individually and not as a class action in binding arbitration as provided above; and (ii) is an independent agreement. You may opt out of these dispute resolution provisions by providing written notice of your decision within thirty (30) days of the date that you first enter the Competition.

16. Amendments and Modifications

MoonDAO reserves the right to amend or modify these Terms at any time. Material changes will be communicated to Participants through MoonDAO’s official communication channels, including the MoonDAO website, Discord, and email (where available). The “Last Updated” date at the top of these Terms will be revised accordingly.

Continued participation in the Campaign following the posting of amended Terms constitutes acceptance of those changes. If a Participant does not agree with the amended Terms, their sole remedy is to withdraw from the Campaign.

17. General Provisions

17.1 Severability

If any provision of these Terms is found to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect.

17.2 Entire Agreement

These Terms constitute the entire agreement between the Participant and the Campaign Parties regarding participation in the Campaign and supersede all prior or contemporaneous communications, representations, or agreements, whether oral or written.

17.3 No Waiver

The failure of any Campaign Party to enforce any provision of these Terms shall not constitute a waiver of that provision or the right to enforce it at a later time.

17.4 Force Majeure

No Campaign Party shall be liable for any delay or failure to perform its obligations under these Terms if such delay or failure results from circumstances beyond its reasonable control, including but not limited to natural disasters, pandemics, government actions, war, terrorism, sanctions, or failure of third-party launch providers.

17.5 No Employment or Agency

Nothing in these Terms creates an employment, agency, partnership, or joint venture relationship between any Participant and any Campaign Party.

17.6 Communications

Official communications regarding the Campaign will be made through MoonDAO’s website (moondao.com), the MoonDAO Discord server, and the Campaign page at moondao.com/frank. For inquiries, contact info@moondao.com.

18. Acknowledgment

By participating in the Overview Effect Campaign, you acknowledge and agree that:

You have read, understood, and agree to be bound by these Terms in their entirety.
The $OVERVIEW token is a governance token only and not a security, investment, or financial asset.
The Selection Process is merit-based and not a game of chance, lottery, or sweepstakes.
Contributions are not tax-deductible and carry no expectation of financial return.
Spaceflight involves inherent risks including serious injury or death.
You are solely responsible for determining the legality of your participation under applicable law in your jurisdiction.
You accept the refund terms as described in Section 8 and understand that refunds are processed in the original cryptocurrency contributed.
You consent to the collection and processing of your personal data as described in Section 14.

END OF TERMS, CONDITIONS, AND RULES

Overview Effect Campaign | MoonDAO | moondao.com/overview

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