Governance Committee Meeting Recap
This week we began our very first series of governance meetings for the ICEBRK DAO in our Discord server (https://discord.gg/8SfkT4Hk4M). These meetings are designed to organize and create structure within the community before we continue to move forward with any definitive project proposals. Topics that have been introduced and are in open discussion so far:
1) Deciding membership rules for the ICEBRK DAO
2) Maximum number of members in the governance committee and the purpose of the group
3) Setup DAO Treasury, grant system, Gnosis vault
4) Define limitations and levels of decentralization
5) Explain the advantages or disadvantages of the DAO
6) Voting windows (duration and importance)
7) Roadmap development, funding, leadership roles within the organization
8) DAO takeover of of community direction, funding measures, roadmap additions. Team will be relegated to paid advisory or consultant positions.
1) Membership rules: ICEBRK DAO membership is open to anyone and voting weight is determined by your total ICEBRK token balance in your wallet. Anyone holding ICEBRK tokens may vote on project proposals, however in order to partake in the governance committee and creation of proposals holders will be required to maintain a two trillion ICEBRK token balance and be vetted by our team.
2) Governance committee member limits and purpose: We will eventually create a limit on total number of governance committee members allowed in the organization. This will be to simplify the power structure and to prevent any sort of conflicts, divisiveness or disorderly conduct. The purpose of the governance committee is to bootstrap the entire ICEBRK DAO from the bottom up. Guiding and shaping our future project direction as we continue to expand.
3) DAO Treasury, grant system and multisignature Gnosis vault: The ICEBRK DAO currently holds 150 Trillion ICEBRK in a time locked smart contract. These funds will remain locked for the first 90 days of the project until we have fully designed and implemented our DAO structure and rules. Committee members may create spending proposals after this period of time and the proposals will have to apply for token grants to be allocated to these proposals. The funds will be held in a Gnosis multisignature wallet once unlocked and will only be accessible by our DAO Treasurers, using multiple addresses to sign each transaction to prevent any theft or abuse of funds.
4) Levels of decentralization and inherent limitations: The ICEBRK DAO mission is to create a decentralized power structure for the IceBreak-R token project governance, whereby the vast majority of decision making and funding will be determined through community voting on proposals. Of course we cannot have a truly 100% decentralized system because this would create a free-for-all environment where nothing tangible or useful would ever get accomplished and created. In order to ensure project survival, growth and proper development we are utilizing a specialized governance committee structure with select members responsible for creating these new proposals. Committee members will be picked based on their ability to contribute to the project as well as their total stake in the ICEBRK token itself- only holders with 2 Trillion tokens or more will be considered. New proposals will have the pass verification and committee approval prior to moving towards their exploratory phase.
5) Advantages and disadvantages of the DAO: The Decentralized Autonomous Organization allows our project to operate more efficiently by taking advantage of crowd wisdom and decision making. By utilizing the ideas and viewpoints from several different sources it strengthens the ICEBRK DAO’s ability to diversify and navigate difficult situations. This process takes more time naturally as we have to communicate changes and ideas to many different people before collect voting proposal results. In addition we will have to present clear and attainable incentives to garner community interest over time.
6) Voting window time duration: The DAO must decide the appropriate amount of time allowed for voting proposals to run. Generally we would recommend a time frame of no longer than 72 hours in order to streamline the process and ensure an efficient and timely execution of changes. Of course the DAO is entirely in control of these types of decisions.
7) Once the ICEBRK DAO has been fully formed and is in place we will begin to allow them to make the entirety of the decisions in regard to further roadmap development, funding proposals, appointed leadership roles as well as any other major project change. By decentralizing the decision-making process we will allow the community to truly take control and have power over the development.
8) Upon full transition of the above processes the core team will be relegated to an advisory and/or consultant positions within the organization. This will prevent any future conflict of interest or power grab by the insider teams. Also it will align our community interest with the longer-term project goals rather than short-term financial gains. Relying on the wisdom provided by our original developer teams will build a solid foundation going forward as well, should any issues arise.