Governance — Phase 1
As we approach the launch of our governance system, it’s important to outline the initial structure as well as how we expect it to evolve. This new method of governance brings with it numerous challenges and opportunities. Ultimately, there is no roadmap for building a successful DAO. We can only look at other Web3 projects and learn together as we collectively experiment with these new mechanisms for human coordination.
Upfront we acknowledge that Laguna Games, Inc. which created the Crypto Unicorns DAO & IP is a centralized entity. Our mission is to incept, grow and manage community-run Interactive Entertainment DAOs with Crypto Unicorns being our first! In short, the DAO is our product. The path to victory lies in decentralizing over the next several years as outlined in our Whitepaper.
We also acknowledge the nascent nature of DAOs. They’ve existed for less than a decade and seek to reformat how we interact and coordinate as a global society of self-sovereign individuals. It’s a lofty goal that will take extreme amounts of iteration and evolution. The current Cambrian explosion of use cases and structures is fascinating to watch in real-time. We hope to learn and grow as we see what governance mechanisms work most over the coming years.
Without further ado, let’s dive into our initial Governance Structure!
To start, we are launching https://forum.cryptounicorns.fun/ which will be the hub for all governance discussions. We’ve created the following three categories:
- This is where the proposal process begins! Anyone is free to post a topic to the ideas thread.
- An idea doesn’t have to follow the official proposal format and can be much more free form.
- The goal is to take the best ideas and produce draft proposals.
Draft Proposals -
- When an idea is ready to be proposed a Draft Proposal should be written. All drafts must be approved by our CM team. We ask that people use the following format so all proposals have a similar structure -
- Name — Brief Name and CUIP-00X “Tag”
- Summary — Two or three sentences describing the proposal.
- Motivation — Describe to the community the reasoning behind why this proposal is necessary.
- Details — Dive into the specifics of what is being proposed.
- Conclusion — Outline the voting choices as well as any relevant details around cost and timelines.
If the draft proposal has is divided in public opinion, we will run a Temperature Check Poll. The goal here is to get a gut check on whether or not this proposal is ready to go live.
Live Proposals -
- Once a proposal has been approved for vote we will add it to the Live Proposals Category. Here we simply track the progress of the snapshot voting process as well as the results.
- In Progress
While the discourse around proposals is contained on the forum site we will be using Snapshot for our official voting process. The official Snapshot site is launching on April 7th.
Here’s what you need to know:
- When a proposal is ready to go live we will submit it to Snapshot where it will be live for a 5 day period.
- Any individual who has staked their RBW prior to a vote starting may participate in governance by voting with their sRBW. 1 sRBW = 1 vote
- For a proposal to pass it must meet a quorum of 33% of sRBW.
- Once the voting period is ended we will record the results in the Live Proposals section and begin the process of implementation.
This is just the beginning frenz.
Our hope is that together as a community we can refine and polish this experience to meet our collective needs over time. We view DAOs such as Gitcoin, Proof of Humanity, and Curve Finance as the north star. They have the highest level of sophistication and we intend to continue to iterate in their direction while looking out for other potential improvement vectors.
One area that needs immediate attention is definition on the threshold for submitting a proposal to Snapshot for an official vote. Some DAOs simply require a certain number of tokens to submit a proposal to Snapshot. Initially, only the LG team can submit a proposal to the snapshot. We think there is room to improve here and would like to implement a Governance Committee. This committee of elected community members would approve proposals for voting after the draft process. It is our plan to submit a draft of this proposal in the coming weeks.
Lastly, we need to address the elephant in the room which is the team/investor tokens. While locked they are eligible to vote on proposals. This means that for the first few years we can collectively outvote the community. In the process of decentralization, it’s our belief that the creators of this IP and DAO (collectively the Laguna Games team) are in the best position to initially guide our Unicorn family forward. So far we’ve been on the same page with our wider community but this may not always be the case. The question we have to ask is what would cause us to vote against the community? Our hope is that iterative proposal development helps to give a voice to individuals as well as larger stakeholders within our ecosystem. Community members should expect to hear feedback from the LG core team throughout the proposal process. For example, we may love a suggestion but implementation would cause a delay of another feature. This way a decision can be made with the full context of our development roadmap.
We would love to solicit ideas from our community on both proposal topics as well as improvements we can make to the governance process. Oftentimes only a small minority of token holders vote on proposals consistently. Our goal is to maximize voter turnout and participation. We have a lot of fun ideas on this front so stay tuned ;)
Before we conclude here are a series of upcoming proposals the LG team plans to put forward in the next 45 days:
- Ecosystem Grants — Round 1
- LP Staking Program
- Governance Council Proposal
- Governance Council Election
- Third-Party Developer Grant
This is an exciting time and we are excited to work in tandem with our community to shape and evolve the Crypto Unicorns DAO over the coming decade!
- The Laguna Games Team
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