Timvi - DAO code

Timvi DAO Code

  1. Any resource can be used for discussion. The core one is TimviCommunity Telegram channel.
  2. DAO settings:
    • Each DAO member has 1 vote represented by a non-transferable token (bound to your Ethereum wallet)
    • to vote, you have to select one of the answer options and make a zero-value transaction, i.e. Ethereum gas fee is taken.
    • Voting is considered successful, if 20% or more members take part in it
    • Yes/No format is used (2 answer options)
    • Over 50% of votes are required to pass a decision
    • Each voting session takes 5 days
  3. To participate, select one of the options and give your vote for it
  4. Сurrently, most important issues are: eliminating centralization points, choosing services that have to be connected to the platform next, appointing assignees
  5. Fund-raising to implement development plans will be carried out right inside the the DAO. In other words, every member will have to transfer a reasonable amount to the DAO’s account. The recommended amount will be based on the number of actual votes.
  6. In case a member remains fully idle (i.e. fails to take part in voting for 3 consecutive months) they can be excluded by a vote.
  7. It is noteworthy that joining a DAO when it is being established is the easiest option; it implies showing your interest by donation. Later each new member will be admitted through a vote carried out according to the above procedure.
  8. The present code is subject to changes, except for item 2. Due to particularities of Aragon platform, settings specified in this item cannot be modified after TimviDAO is created

We see clearly that the 1 voting member = 1 wallet-bound vote principle is not ideal. A member is definitely able to create multiple wallets and to control them. But, first, to vote several times, this member will have to pay gas fees for each voting wallet, second, any wallet can be checked for affiliations and removed from the DAO through a vote. Also, only live non-affiliated wallets can be admitted to the DAO. Blockchain allows anyone to carry out their own audit at a relevant resource and to trace any wallet. Also, we are not unlikely to create our own service for it.