For the first semester of the club’s governance (“Governance V1”), all proposals will be initiated by the Core Team. Over 75% of the Core Team must agree on bringing a proposal to a club-wide vote, ensuring that (a) it falls within the scope of the club’s on-chain governance parameters and (b) is not destructive to the club. This proposal and deliberation process is handled in the Core Team’s biweekly meeting.
When a proposal has passed the Core Team’s vetting process, it will go to Snapshot vote. The process will be a 5-day, simple majority vote, where each Voting Member has a single vote (whitelisted Ethereum address on Snapshot). A section of the Discord server (#club-governance) will announce the proposal and be a site for deliberation around it.
Once the result of the Snapshot vote has concluded, the Core Team will act as executors of the result.
Proposals will initially focus on:
- Use of funds in the club’s Treasury, particularly those from BitDAO’s EduDAO. This includes grants, new initiatives, or the allocation of idle funds.
- Club vision, such as setting priorities for how the Core Team’s time should be allocated to best serve the interests of the club’s members.
Instead of whitelisting Ethereum addresses, we’ll eventually transition to non-transferable membership NFTs. The governance power of these NFTs will “expire” and be replaced with a new one each academic year (starting and ending on September 1st). There are multiple reasons for this:
- Greater governance flexibility. Votes can include or exclude past members, depending on the topic. Roles can also be revoked.
- Collectibility. Each “season” of the club can have a different NFT design, which serves as a memory of the experience. Also allows for technological changes to NFT standards (e.g., programmability) as the industry progresses.
- On-chain reputation. A member’s wallet shows how many years they’ve been in the club, the different roles they’ve held, and so on. Useful to verify participation in the club for employment or other reasons.
The club’s Treasury will be a Gnosis Safe multi-sig wallet, of which the Core Team members are the signatories. At first, this will be entirely composed of the funds from BitDAO’s EduDAO.