# Purchases
# How do Members of Flamingo make purchase decisions?
Flamingo is entirely member-directed and managed by the Members through democratic voting. As a Member, you should have some experience in evaluating or purchasing digital assets.
To preserve privacy and to prevent front running, and unless otherwise agreed, Members will periodically agree to allocate a portion of Flamingo's assets into a side-pocket (i.e., 20% of Flamingo's assets) initially maintained by Flamingo's Service Provider with the aim of having it managed in-part by the members. Once set aside, Members can propose to other Members the purchase of one or more NFTs. If a proposal passes (as outlined below), the Members themselves or the Service Provider will take steps to acquire the assets at issue.
The process of side-pocketing assets will occur through a Moloch-style vote (i.e., an on-chain vote). Each decision to side-pocket collected assets will have a 4 day voting period, with a 3-day period for Members to "rage quit." If during the 4-day period, there are more yes votes than no votes, the assets will be set aside. If there are more "no" votes than "yes" vote, the side-pocketing will not pass.
Individual acquisition decisions will occur via the dApp and will not require the expenditure of gas. Each Member will have the opportunity to outline and nominate an NFT or NFT-related project or opportunity to other Members. Once nominated, Members or a Member's delegate will have the right to vote on whether to support the proposal.
A Flamingo Member should understand and acknowledge that they must bear the economic risk of any purchase.
# Will Flamingo have a general partner?
No, unless the Members make such a decision to appoint a general partner (but that wouldn't be in the spirit of things).
# Will Flamingo operate via a thesis?
Flamingo is an emergent experiment and thus there is no express thesis. Members can work together to formulate a thesis and explore purchase opportunities. They have the right to develop any thesis they agree on.
# What happens if there are multiple NFTs for purchase? How do Flamingo Members make decisions?
Member decisions will occur through the dApp based on proposals made by Members.
# What is the purchase period for Flamingo?
Flamingo has no express purchase period. Members can make purchases until all contributed capital has been allocated or withdrawn, as discussed further in these FAQs.
# Does Flamingo's Service Provider have any rights to make purchase decisions?
The Service Provider has no role in making purchase decisions.