1️⃣Phase 1
Overview
Phase 1 of the governance rollout allows the DAO to establish baseline functionality. Three mechanics exist within Phase 1:
Initial Core SubDAO subcommittees are comprised of early Perion Core contributors. At the launch of Phase 2 subcommittees will be elected via Elections.
Independent / community backstop on all Phase 1 voting
To ensure fairness for all holders throughout the Phase 1 period, all funding and modification mandates utilise a 3-way voting mechanic, comprising of 3 voting parties:
1 x Subcommittee
1 x Independent backstop
1 x Community
The independent backstop performs several key functions, in that it:
Ensures all decisions of the DAO are supported by seasoned market participants, with a proven track-record of success in digital asset markets
Allows the community to have a voice in the decision making process, giving an opportunity build trust for the subcommittee model and process, as after the Phase 1 period ends subcommittees will become entirely self-regulating once elected by the community
Ensures compliance with regards to any region localisation issues a subcommittee may potentially face
The opportunity for Perion community members to co-govern alongside large stakeholders provides our community valuable insight into their thinking and methods of operation.
Further reading
Details about the mechanics used in Phase 1 can be found below:
Moving to Phase 2
3 years after the launch of governance a DAO modification vote will be possible to launch Phase 2 of the DAO governance system.
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