Goal of the proposal is to establish Adshares DAO in its initial form proposed by the Adshares core team. Adshares DAO will be a decentralized autonomous organization (DAO) run by holders of the Adshares coin (ADS). Its governance framework has been created by the Adshares founding team. More details can be found in below documentation: Adshares DAO - Adshares documentation
We want Adshares DAO community to have the ability to submit proposals, vote on the most interesting and promising ideas, and put them into action. With more people and companies joining the Adshares ecosystem our goal is to build a totally decentralized AdTech infrastructure governed by DAO. That is why projects and people need a place to discuss and decide about Adshares future. All of this done in a decentralized manner with on-chain voting.
Adshares DAO initially will consists of below modules/layers:
- Forum - place for discussion about Adshares DAO and it’s proposals.
- Voting Platform - Place for on-chain voting on Adshares Improvement Proposals. This web application will be developed by Adshares core team. Voting will happen with the use of Adshares native wallet and blockchain.
Additionally, DAO will use Discord and Adshares main page for informational purpose.
DAO General Voting Rules
Since we want to only propose early solution and let people decide about DAO futures, below rules can be later changed via separate DAO voting.
- Anyone can propose AIP on Adshares Forum.
- 30 positive votes are needed to pass the initial forum voting. Voting options: “Yes”, “No”.
- To put AIP on-chain, through the Voting Platform, wallet needs to have at least 100 ADS in its balance and the proposal need to pass initial forum voting.
- On-chain voting starts next block after the proposal is posted.
- Each voting will last 1024 blocks (about 6 days), starting from the next block where proposal was posted.
- Each wallet can only vote once in single proposal (first vote counts). After that it is not possible to change the vote.
- Each wallet can only submit one proposal at a time.
- “In Favor”, “Against” and “Abstain” votes are available option for voting.
- 1 ADS Coin is equal to 1 Vote (Voting Power).
- Your Voting Power is calculated based on the latest snapshot which was taken prior to this particular AIP voting.
- Snapshot of the voting power is taken every 2048 blocks (about 12 days), when staking rewards for current cycle starts to be distributed.
- User can wait up to 2048 blocks for his voting power to be updated.
- The minimum quorum is 30% of the total possible voting power.
- Exchanges wallets and LP contracts will be excluded from quorum. List of those wallets will be publicly available in the doc DAO section.
- Proposal requires a simple majority (50% + 1) to pass (more “In Favor” votes than “Against”).
- Forum setup with custom design
- DAO main page design (+MVP of the Voting Platform)
- First AIP and DAO voting
- Voting Platform design & development
All the above will be developed by the Adshares core team.
Proposed DAO structure and rules will go live immediately after successful voting on AIP-1.
No additional cost.
No risk other than possible delays caused by technical issues.