I already signaled my support in July (Research on a Treasury Entity - #6 by cpoetter). but I want to stress that more seasoned members should decide and weigh in.
regarding costs: i don’t work in law and have no idea how much counseling with a lawyer is. my instinct tells me that $5,000 is not much. we’d need a more specialized lawyer (blockchain stuff, taxes, maybe international law,…). if you have to explain blockchain, DAO,… to a lawyer first, much of the funds go into educating them.
also I assume some funds have to be reserved for traveling costs (haven’t read the MIDAO stuff again, but some people have to show up on the Marshall Islands in person at least once, don’t they?).