DAO Governance
Governance of Komm DAO is decentralized and leverages smart contracts on the Ethereum blockchain. The governance process has implemented success factors of notable DAO models such as Orange DAO and The LAO.
All DAO members are welcomed to participate in all aspects of the governance, including making decisions on potential investment opportunities, policies/processes and any other matters requiring collective decisions. In other words, any and all members can partake in the deal sourcing and opportunity review, as well as contribute their expertise and capabilities to portfolio companies for growth and development.
Proposal Process
The proposal process is a crucial component of the Komm DAO governance model. Members initiate the process by submitting a proposal draft, and the proposal is then open for feedback and improvement from other members. This leads to a collaborative approach to decision-making.
Voting Power
DAO utilizes one-token, one-vote system. Prior to token launch, each Komm DAO NFT membership equals one vote. Upon governance token distribution, new voting system will be implemented. Voting power can be delegated to a trusted DAO member.
Voting Stages
There are two stages in voting: temperature check and consensus check.
(1) Temperature Check: Any member can post on Discord to raise an issue or ask a general question. Members can discuss and share their thoughts over the topic. Members can also vote-for or vote-against using emojis. No winning threshold is required. Given the feedback, the initiator can tweak the post to proceed to the next voting stage.
(2) Consensus Check: The initiator can publish the updated proposal on DAO platform and create a poll. The poll can be either a binary choice or multiple choice with a single answer. Once the poll is created, one day of voting delay (or, 24 hours) is required. The poll will then remain open for four days. Members can cast a vote with their voting rights within the voting period. To pass the proposal, a simple majority is needed. If the proposal did not receive a majority vote, the post will be closed immediately. If passed, there will be a two-day of timelock period for the proposal to be queued, reviewed, and executed by the Governor. Once approved and finalized, the smart contract will be validated.
DAO Governance Flow
Proposal: A member generates and submits proposals for potential investments, community growth, and other matters that affect the DAO community.
Review and Feedback: DAO members review and provide feedback on the proposal.
Revision: The initiator modifies the proposal based on feedback received.
Consensus: Members reach consensus on whether the proposal moves on to the next step for on-chain voting.
Uploading to On-Chain: The proposal is uploaded onto blockchain for token-based voting.
Governance Decisions: DAO members vote on the proposal and make governance decisions.
Smart Contract Execution: Once approved, the smart contract is executed and the DAO moves forward with the approved proposal.
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