Principles of DAO Treasury spending
Type
DAO management.
Short Description
This proposal describes an improved distribution principle for EVER coins from the community Treasury.
Goal and motivation
Goal: To create clear mechanics for the distribution of coins from the Treasury and to increase the value of coins and the Everscale community thereafter.
Motivation: To provide a concise allocation model for all remaining EVER coins held within the giver fund/community treasury.
Description
1. Proposal “Standardize the nomenclature as EVER coin (not EVER token).”
The commonly accepted term for a network’s native cryptocurrency is coin (ie, Ethereum is a coin, Tether is a token). It is proposed to make the word “coin” common for all marketing materials and documents of the Everscale network.
2. Funds allocation cases
Allocation of coins in all cases is only done through a Proposal made in EverDAO.net, having previously accepted the edits from the Everscale community in the forum or in the Everscale public chat.
2.1 Proposal “Allocation of Funds to Proposal Creators”.
A well-made proposal requires a great deal of thought, planning and preparation, and when done properly, is a large commitment by the proposee.
It is proposed to include standardized payments for this labor in the logic of DAO smart contracts. If the Proposal is approved, creators will automatically receive coins.
The community will be tougher on Proposals, and creators will be motivated to prepare proposals that are thoughtful and beneficial to the community.
It is anticipated that such an approach will encourage the emergence of competition for proposal creation in the future.
Rewards for creating a useful network proposal should be blocked by vesting within the proposal deadline or other timelines accepted by the community.
2.3 Proposal “Creation of a smart contract for the joint proposal submission - Potluck (folding)”.
For the community members who do not have enough tokens on their balance, it is proposed to create a “fold” on a smart contract. Several members of the network with at least 10.000 EVER can unite to submit a proposal.
2.4 Proposal “Allocation of funds for the Core Network Development”.
Following the successful implementation of the “Architecture of the DAO Constructor” proposal, all funds (and control thereof) allocated toward core network development should be transferred to the DAO Constructor smart contracts.
2.5 Proposal “Allocation of funds for marketing and other initiatives to commercial teams”.
It is suggested that marketing of any project on the Everscale network be considered a promotion of the network itself.
Metrics for each project are formed individually and should be resistant to any forms of collusion or misrepresentation.
Note: any data suspected of inaccuracy or falsification will immediately be brought to the attention of and discussed by the community who will then decide upon further steps. incurring of debt to the Everscale community.
It is suggested that if a project is financed in EVER coins from the Treasury, then the following conditions must be met:
- Executors of such projects are considered contractors working under the terms of a smart contract managed by Everscale DAO.
- Results are the property of the Everscale community.
- The project is controlled by Everscale DAO by nature.
- Coins are allocated on a partial prepaid and postpaid basis for each step of the proposal, but they are never allocated fully in prepayment.
- If the proposal is not fulfilled, the coins may be returned to the Treasury by a decision of the Everscale community.
- If the results of a proposal are found to be falsified, the executors may be subject to a debt smart contract to the Everscale community.
A commercial team or individual actor can receive EVER coins for their project only in case 2.5 of this proposal, as well as from Everscale DeFi Alliance and other similar foundations.
Before the request, projects are advised to look at launchpads and other financial tools such as everstart.io, kw.finance, everlend.app, etc.
2.6 Proposal “Funds allocation to Foundations and Investors”.
It is proposed to prohibit the sale of coins from private investors through OTC. Coins received from investors are locked into TIP3.1 Treasury smart contracts to pay for initiatives through Everscale DAO.
Any scenario of coin allocation to Investor or Foundations implies the exchange of TIP3.1 (and newer versions) of cryptocurrency/ies via Broxus bridges or other bridges (by decision of a separate Proposal) into the Everscale network.
2.7 Proposal “Allocation of funds to combined cases”
The combined case submits to a combination of all the requirements listed above or is split into separate proposals.
2.8 Proposal “Other cases”.
Other cases which do not fall under those criteria described above may be considered (after suitable amendments) to the “Treasury stocks expenditure guidelines” as a separate proposal.
3. Proposal “Architecture of the DAO constructor”.
It is proposed to develop a DAO constructor to manage treasury stock spending of the Everscale community: executives, executors, auditors, participation cost, deadlines, metrics and reports (including a time registering mechanism of metrics fixation in Everscale DAO reports).
For each proposal, a responsible person, an auditor, and other executives are assigned. Proposal results are recorded in an NFT portfolio associated with each participant’s primary address.
The Proposal “Architecture of the DAO constructor” describes the supposed structure of DAO for project management according to Agile and Waterfall principles, considering the logic of this proposal.
Implementation
Suspend all payments from the Treasury until the final implementation of the points below.
Implement:
- Collectively develop and adopt the Proposal “Rules for drafting Proposals”.
- Collectively develop and adopt “Principles of Treasury Spending” based on this Proposal and get community consensus on it.
- Collectively develop and adopt the Proposal “Architecture of the DAO constructor”.
Resources requested
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We leave it to DeFi Alliance to evaluate this work done in developing the proposal, including bringing it to a positive decision by the DAO.
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We request to appoint a person responsible for the implementation of this proposal from DeFi Alliance representatives and assign the task to this person, as well as the deadline for implementation.
Authors
Averyanov Evgeny (telegram @averyanova) - Initiator
Beko (telegram @astrosar) - Template author
Andrey Dementiev (telegram @dem_andrey) - Critic
Roman D (telegram @Dedicate_s) - Community expert
Alina (Telegram @madonna_90) - Translator, text
I R Ben (telegram @mrbsunder1and31) - Community
Postscript
EVER coins are an asset of value and should be distributed with careful consideration with an aimto increase the value of, and demand for, Everscale network.
When voting upon the allocation of funds, DAO participants are advised to consider the following questions:
How will this proposal increase the value of the network?
Before creation any proposal community member should ask himself: Will this proposal increase the value of the network or not?