The Syndicate Token Transparency Filing

Project & Team

Description of Project

Provide a concise narrative that clearly states each of (a)–(e) below.

(a) Problem the project solves — The problem the project is solving.
(b) Operational priorities — Provide a high-level description of how the project expects to support ongoing development and operations over time.
(c) High-level project overview — How the project works at a high level.
(d) Primary token functions — The primary functions of the token (e.g. gov participation).
(e) Control surface reliance — If any, briefly describe the anticipated or possible evolution of the protocol's governance/control model.

(a) Problem the project solves

The Syndicate addresses the difficulty of building a lasting blockchain game when player incentives depend heavily on speculation in a tradable in-game currency. Such models can encourage players to prioritise extracting financial rewards over enjoying the game, while exposing progression and rewards to token-price volatility.

The Syndicate separates gameplay progression from tradable-token speculation. Its in-game, non-tradable, currency, RACKET, supports gameplay, while competitive rewards are distributed in USDC. The aim is to build a gaming business supported by players choosing to spend on an experience they enjoy, with strategy, collecting and competition providing reasons to return. The separate $GANG token allows project governance and ownership to sit outside the gameplay economy.

(b) Operational priorities

Trium Labs, Inc., through its core team, is responsible for The Syndicate’s ongoing development and day-to-day operations.

Ongoing development and operations are supported by a monthly budget of US$41,666 from the MetaDAO treasury (~$450k), alongside approximately US$200,000 currently held in the project’s operations account. Any increase to the monthly treasury budget requires a proposal through MetaDAO’s governance process.

At last 30D rate, the game also generates ~$45k per month in revenue.

The project’s current priorities are growing the player base of the existing crypto game, launching on Seeker as an additional distribution channel, and releasing a free-to-play mobile version on iOS and Android. These initiatives are intended to expand the game’s reach and support ongoing player and revenue growth.

(c) High-level project overview

The Syndicate is a mafia-themed idle strategy game developed by Trium Labs, Inc., with blockchain features built on Solana. Players recruit and develop characters known as Capos, build their criminal empire, compete for territory and progress through weekly competitive leagues. The existing game is accessible through a browser, with email or Telegram sign-in.

The game separates its gameplay economy from its project governance token. RACKET is used for in-game progression, competitive rewards are paid in USDC, and GANG serves a separate governance and ownership role through MetaDAO. Planned expansion includes distribution through Seeker and a free-to-play mobile version for iOS and Android.

(d) Primary token functions

GANG’s sole current function is participation in The Syndicate’s governance through MetaDAO’s market-based governance system, known as futarchy. Participants trade in proposal-specific markets that assess the token’s value under approval and rejection scenarios. The resulting market prices determine proposal outcomes under the applicable governance rules.

This process governs decisions such as treasury expenditure and changes to the project’s monthly operating budget. GANG is separate from RACKET, the game’s internal non-tradable currency, and has no current in-game utility.

(e) Control surface reliance

The project expects to maintain its current governance and operational structure. MetaDAO’s market-based governance oversees treasury decisions, including proposals to increase the monthly operating budget, while the team manages day-to-day development and operations. No specific changes to the governance or control model are currently planned.

Known Project Team

For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the:

(a) full names,
(b) official titles,
(c) and prior experience of key team members.

For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.

Labs / DevCo

Full Name	Official Title	Prior Experience
Tim Williams	CEO	Vector/Tensor and Backpack
Jonathan Williams	CFO	No prior Web3 experience
Joseph Williams	COO	No prior Web3 experience
Jason Heron	Head of Marketing and Growth	Vector/Tensor and Backpack

Foundation

Full Name	Official Title	Prior Experience
No separate foundation entity exists.	NA	NA

DAO / Onchain Governance

Full Name	Official Title	Prior Experience
There are no appointed DAO leaders. The Syndicate’s onchain governance operates through MetaDAO’s market-based decision process.

DAO Structure

Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so for each sub question. Even if there is no DAO, there must be an answer to (d). Address the lettered items below.

(a) IP ownership & control — State what IP the DAO owns or controls (e.g., codebases/repos, trademarks/brands). Note any license if relevant.
(b) Contract/admin powers — List on-chain or administrative authorities and limits: pause/upgrade roles (e.g., multisig pause), governance-executor authorities, and the method of authority for each (e.g., veto, majority, super-majority).
(c) Locked-token rights (conditional) — If locking/staking for additional rights exists, explain the additional rights and what tokenholders can and cannot decide. If no locking mechanism exists, leave absent.
(d) Current tokenholder governance rights and economic arrangements — If any, describe the current governance rights of tokenholders and any presently operative rights or arrangements relating to treasury actions, fee-routing, rewards, buybacks, or other protocol-controlled resources. If none, state that explicitly.
(e) Control surface reliance — If any, briefly describe the anticipated or possible evolution of the protocol's governance/control model.
(f) Dissolution authority — State who can dissolve/wind up the DAO and by what mechanism (e.g., on-chain vote threshold, board resolution of a legal wrapper).

(a) IP ownership & control

All intellectual property of The Syndicate (game code, smart contracts, brand, trademarks and domains) is owned by the GANG tokenholder DAO, which is governed through MetaDAO's futarchy (market-based) governance. Trium Labs, Inc. develops and operates the game on the DAO's behalf and does not hold independent ownership of the project's IP.

(b) Contract/admin powers

Mint authority over GANG, and any upgrade or administrative action over the DAO treasury and token, can only be exercised through a passed MetaDAO futarchy proposal. No individual, multisig or company holds a separate pause, upgrade, freeze or mint key over GANG. The method of authority is an onchain futarchy proposal that passes MetaDAO's conditional market process and is executed by the DAO.

(c) Locked-token rights (conditional)

Locked team tokens (12.9M GANG) and the locked existing-investor allocation (1.4M GANG) carry no governance or economic rights beyond those of the token itself while locked, and cannot be transferred or sold until they unlock under the schedules described in Section 6.

(d) Current tokenholder governance rights and economic arrangements

GANG holders govern the project through MetaDAO futarchy: proposals pass or fail according to conditional prediction markets that trade in GANG, so any holder can take part by trading. GANG is a governance token only. It gives no right to dividends, revenue share, buybacks or other distributions, and none have been formally adopted. The DAO treasury funds development through a monthly budget of US$41,666 paid to Trium Labs, Inc., under a service agreement between the DAO and Trium that is currently being finalised.

Revenue the game generates in future is expected to flow to the MetaDAO token treasury, this will be determined pending legal agreements/service agreement structuring which is still ongoing.

(e) Control surface reliance

The project relies on MetaDAO's futarchy programs for governance and treasury control, and on Solana for settlement. Day-to-day operations rely on Trium Labs, Inc. as the service provider. No changes to the governance model are currently planned.

(f) Dissolution authority

The DAO can only be dissolved, or its treasury wound down or returned, by a passed MetaDAO futarchy proposal. No individual, foundation or company has unilateral authority to dissolve the DAO.

Primary Foundation

For the Primary Foundation do the following independently. If a Foundation does not exist, state so for each sub question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary Foundation can be explained as the entity which is directly involved in the issuance of the native token at launch.

(a) Entity — Type and jurisdiction.
(b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
(d) Powers over DevCo — Explain whether the foundation can exert direct or indirect influence over decision-making of the DevCo.
(e) Contract/admin powers — Pause/upgrade/governance-executor authorities, and the method/threshold for each (e.g., veto/majority/super-majority).
(f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly.

(a) Entity

No foundation entity exists. GANG was issued at launch through MetaDAO's launchpad, which created the GANG DAO and its futarchy-governed treasury directly.

(b) IP ownership & control

Not applicable, as no foundation exists. IP is owned by the GANG DAO (see Section 3a).

(c) Powers over DAO, treasury, protocol-controlled resources, and token administration

Not applicable, as no foundation exists.

(d) Powers over DevCo

Not applicable, as no foundation exists.

(e) Contract/admin powers

Not applicable, as no foundation exists.

(f) Current economic arrangements and distribution policies

Not applicable, as no foundation exists.

Primary DevCo

For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly across each sub-question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary DevCo can be explained as the entity which is directly involved in the issuance of the native token at launch.

(a) Entity — Type and jurisdiction.
(b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
(d) Powers over Foundation — Explain whether the DevCo can exert direct or indirect influence over decision-making of the Foundation.
(e) Contract/admin powers — Pause/upgrade/governance-executor authorities and the method/threshold for each (e.g., veto/majority/super-majority; "3/5 multisig").
(f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly. Do not discuss hypothetical future dividends, repurchases, or distributions unless formally adopted.

(a) Entity

Trium Labs, Inc., a Delaware C-Corporation (United States). Trium Labs, Inc. has a service agreement with Trium Labs Limited, a UK company, which provides development services.

(b) IP ownership & control

Trium Labs, Inc. owns and controls no IP relating to The Syndicate. All IP (game code, smart contracts, brand, trademarks and domains) is owned by the GANG DAO. Trium develops and maintains it on the DAO's behalf under the service agreement.

(c) Powers over DAO, treasury, protocol-controlled resources, and token administration

Trium has no powers over the DAO, its treasury, protocol-controlled resources or token administration beyond those of any GANG holder. It cannot mint GANG, move DAO treasury funds, or set reward or emission parameters. Any such change requires a proposal that passes MetaDAO futarchy: a proposal passes only if the time-weighted average price of GANG in the 'pass' conditional market exceeds the 'fail' market by MetaDAO's configured threshold over the proposal's trading period. Trium can submit proposals like any other participant.

(d) Powers over Foundation

Not applicable, as no foundation exists.

(e) Contract/admin powers

Trium holds no pause, upgrade, freeze, mint or executor authority over the GANG token, the DAO treasury or the MetaDAO programs. Passed proposals are executed by the MetaDAO futarchy programs, not by Trium. Trium's own operating funds are held in a 2-of-3 Squads multisig on Solana and a 2-of-3 Altitude account, with Timothy Williams, Jonathan Williams and Joseph Williams as signers; these control only Trium's operating funds and weekly player prize payouts.

(f) Current economic arrangements and distribution policies

Trium currently receives US$41,666 per month from the DAO treasury to fund development and operations; this payment is in force now. The formal written service agreement between the DAO and Trium is being finalised. Trium makes no distributions to GANG holders, and no dividend, buyback or revenue-share policy has been adopted.

In the future, game revenue is expected to be paid to the GANG token treasury. This will be determined pending legal agreements/service agreement structuring which is still ongoing.

Token Supply & Allocations

Initial Allocation

Ticker	Date	Allocation Category Name	Recipient Type	Allocation %	Allocation Tokens	TGE Unlock %	TGE Unlock Tokens	Cliff Months	Cliff Unlock %	Cadence Months	Circulating Treatment	Notes on what each category is used for
GANG	2026-10-11	MetaDAO ICO Backers	Public / Sale	0.367647058823529	10000000	1	10000000	0	0	1	No	Sold to backers in the MetaDAO ICO on 11 Oct 2026 raising US$600,000; fully unlocked at TGE. Source: issuer (The Syndicate) and MetaDAO ICO records.
GANG	2026-10-11	MetaDAO Pool Liquidity	Liquidity	0.106617647058824	2900000	1	2900000	0	0	1	No	Trading liquidity seeded in the MetaDAO pool on Solana at TGE; no vesting. Source: issuer (The Syndicate).
GANG	2026-10-11	Colosseum (Existing Investor)	Private / VC	0.0514705882352941	1400000	0	0	18	1	1	No	Existing investor allocation under a SAFE with Colosseum signed June 2026; 18-month lock from TGE then 100% unlocked at month 18. Source: issuer (The Syndicate).
GANG	2026-10-11	Team (Performance-Locked)	Insiders	0.474264705882353	12900000	0	0	18	0	1	Conditional	Team allocation: 18-month lock from TGE, then releases in five 20% tranches ONLY when GANG price reaches 2x, 4x, 8x, 16x and 32x price targets (not time-based). Modelled as an 18-month cliff with 0% time-based unlock because no tranche unlocks on a schedule; Conditional because release depends on price-target conditions. Source: issuer (The Syndicate).

Airdrop Process

State the project's airdrop status plainly, and back it up:

Never conducted and none planned for TGE: state so plainly.
Planned but not yet executed: state the target user segments (e.g., "stakers of X," "Aave users") and the allocation method (e.g., proportional to balance or net position), and commit to publishing a recipient wallet list in a public channel and providing it to Blockworks quarterly until the initial TGE airdrop is fully completed.
Already executed: state the covered user segments and the allocation method, and point to a per-address source such as CSV/TSV/JSON files, a Dune table, a full Merkle dump, GitHub repo files embedding per-address allocations, or RPC endpoints that expose claim/amount data; explorer links alone do not count.

No airdrop has ever been conducted, and none is planned.

Transactions & Market Structures

Market Maker Agreements & Deals

Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly. For each market maker, include in a table:

(a) Market maker's name — the market maker's name;
(b) Token allocation or loaned amount — the token allocation or loaned amount as a percentage of total supply;
(c) Duration/term of agreement — the duration/term of the agreement; and, where applicable,
(d) Name of agreement structure — label the financial vehicle being used in the agreement (i.e. loan, option/call, retainer model).

If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for (b).

Market Maker Name	Token Allocation Committed	Term Duration	Structure Name
None	0	N/A	No market maker agreements or arrangements of any kind

Exchange Agreements & Deals

Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table:

(a) Exchange name / DEX pool — the exchange name (and, for DEX, the specific pool/pair);
(b) Token allocation for listing — the token allocation supplied or committed for listing as a percentage of total supply;
(c) Term Duration — the duration/term of any listing lockups, liquidity, or incentive programs; and, where applicable,
(d) Native-token listing fees — whether any listing fees were paid in native tokens, with amounts (tokens or % of supply), recipients, and any vesting or lock terms tied to the partnership.

If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.

Exchange Name	Token Allocation Committed	Term Duration	Native Token Listing Fees
MetaDAO liquidity pool (GANG, Solana)	2.9M GANG (10.7% of supply)	Ongoing, no fixed term (liquidity provided at launch on 11 Oct 2026)	No listing fees

Financial Disclosures & Risks

Prior Token Sales & Fundraising

Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide:

(a) Series Name;
(b) Early-Stage Investment Instrument used (i.e. SAFT, STAMP, SAFE, SAFE+Token Warrant, etc.);
(c) Date of sale (at least month & year);
(d) Number of tokens sold (or % of total supply);
(e) Vesting schedule.

If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").

Series Name	Investment Instrument	Date Of Sale	Number of tokens sold	Vesting Schedule
Colosseum (existing investor)	SAFE	Jun 2026	1.4M GANG (5.0%)	18-month lock from TGE
MetaDAO ICO	Public token sale via MetaDAO launchpad	11 Oct 2026	10.0M GANG (36.8%), raising US$600,000	Unlocked at TGE

Previous Exploits Affecting The Native Token

If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself. If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").

(a) Date & component affected — Date (YYYY-MM or YYYY-MM-DD), chain(s)/component affected.
(b) Exploit vector summary — Plain-language summary of the exploit vector (what the hack was).
(c) Quantified impact — Quantified impact (assets/tokens affected or a clear "no loss of funds" statement).
(d) Remediation/response taken — Remediation/response taken (patches, upgrades, governance actions, compensation).
(e) Current status — Current status (resolved, in litigation, under investigation, refunded, etc.).
(f) References — Link(s) to post-mortem/advisory/PR.