This is a work in progress. The critical features are the bonding of candidates in order to force “skin in the game”, and the opt-out spending process. The intention is to continue progress towards more structured governance without just dropping a preconceived structure where there was none before. There is still much work to be done fleshing out the process. I am open to all ideas on how better to enact this vision. -RR
The DAO’s work ethic has been phenomenal so far. It has carried us this far entirely organically. Structures are already built by mutual consent, they just keep getting hung up on funding.
To create enough structure to let the protocol grow, without forcing people to choose between subordinate relationships they dislike and getting work done, a system must be made that feeds this process of self-assembly
The more streamlined and hands-off the governance process, the more people can get what they want moving, and then let the group decide which efforts to seriously pursue.
Consuls are nominated by bonding PHONON in their name.
9 nominees with the largest bonds after a 2 week nomination / campaign period are put to a ranked choice snapshot vote
the top two nominees will serve a 3-month term
funds bonded for the nominees not selected are returned
9% of the DAO's treasury at the start of the term is allocated to the Consuls budget
further funding requests go to a DAO vote
All spend requests from the consul budget are approved automatically after a 33 hour delay.
Each Consul can veto or quick-approve any spend request
Each Consul can push the other's veto to a DAO vote as a tiebreak
A “no-confidence” bond that exceeds 33% of a consul’s bond will trigger a recall election for that position
A "no-confidence" bond that exceeds 33% of the sum of both consul's bonds will trigger a recall of the entire consular system
A consul can defect at any time and force a new election/vote of no confidence in the system itself
If both defect, or one + majority snapshot vote, the consular system is scrapped and a new governance system will be chosen by majority snapshot vote
A consul can abdicate at any time, which will refund their bond
If a consul is removed via snapshot vote, the status of their bond will be decided by DAO-wide ranked choice vote
- Nominees will show up with plans and teams that develop as they go.
- Consuls will assign their own compensation (subject to veto), build out staff and structure as it becomes necessary, and compromise with the best intentions.
- Each consul will choose their own scope, and try not to overlap too much.
- Vote delegation will allow the DAO votes to coalesce into something like a Senate.
- Longer-term and larger budget allocations will have to be approved by the DAO, and will be done so in tranches rather than on a transaction by transaction basis.