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DAO Governance
Democratizing the Metaverse
- 1.Providing equal opportunity for those who struggle because of socioeconomic inequality
- 2.Enabling others such as guilds to provide an opportunity for those in need
- 3.Allowing participation and encouraging the idea of “Doing Well By Doing Good”
- 4.That spending power does not equate to voting power
We have structured our Decentralized Autonomous Organizations (DAOs) to reflect these values.
While staking $AAG tokens grants voting power, participation also counts. The distribution of voting power is not just about tokens held, but how much you use our products.
We strongly believe that unless you get your hands dirty, you will not be able to help us make the best decisions to help move the technology and ecosystem forward. In a typical DAO, community members with high spending power (a.k.a. whales) can dominate the ecosystem and be the main determinants of the outcomes. This is problematic because they may not be the group of people who are most affected by the results. This may frustrate the community or drive the product in the wrong direction.
For these reasons, we will introduce Proof-of-Participation (PoP) NFTs, which are rewarded to community members based on the length and level of their participation, and correlated with their voting power in a DAO.
Being both a platform and a guild, one question that often came up is about conflict of interests. For example, in an event that there are multiple features requested are by AAG Guild and other guilds, which one has a higher priority? So how do we solve this?
The DAO process will be based on 3 factors:
- 1.Length of participation (i.e. How long have you been using the AAG Platform)
- 2.Level of participation (e.g. For guilds: number of scholars and features used)
- 3.Amount of $AAG staked
In terms of participants in the platform DAO, this will include all stakeholders. The more relevant they are to the topic on the ballot, the more voting power they receive.
We want our scholars and country ambassadors to have a say in how AAG Guild operates. Some examples of the decision points include:
- Country expansion
- Changes to our commission structure
- New game to enable
- Tournaments (e.g. game selection, tournament format, etc.)
In this case, the DAO process will be based on the following factors:
- 1.Whether you are a part of the AAG guild
- 2.Amount of $AAG staked
You may have noticed that this is very different from how other DAOs operate. Although non-guild members will have the opportunity to shape the future of the DAO, we believe that the stakeholders who are affected most by decisions should have the strongest voice: our scholars.
The AAG Foundation is essentially a nonprofit guild, so this DAO will inherit some of the characteristics of the AAG Guild DAO. However, there are unique aspects to support the nonprofit initiatives which can be divided into 2 categories:
- Advisor-led initiatives. We have onboarded many advisors who will run a nonprofit project as part of the AAG Foundation or continue to run one they are already working on. As a member of the Foundation DAO, each member can vote to continue to support the effort.
- Community-led initiatives. These types of initiatives will be nominated by DAO members who have reached a certain participation level. Other members can participate in the voting process.
In this case, the DAO process will be based on the following factors:
- 1.Prior participation in the DAO process
- 2.Prior participation in real-world such as on the Random Acts of Kindness (RAK) campaign
- 3.Amount of $AAG staked
Although we intend to have the process independent of our decision, the initiatives are bound to certain basic rules to avoid breaking laws or any other infringement.
Last modified 1yr ago