Governance at GolduckDAO is based on a 3-step voting process.
Phase 1: Idea
Anyone is invited to propose an idea on Discourse Forum or any social channel maintained by GolduckDAO. If an idea receives positive support from five or more people, it moves to phase 2.
Phase 2: Proposal
Next, the idea is shaped into a proposal using this template. If the proposal asks for some improvement of the system OR any new projects related, approval by a majority vote in a public Discourse poll is necessary. All proposals that revolve around the rules or the rules to change the rules (the constitutional process) or membership and enforcement of norms OR Moving Funds or Tokens in and out of Treasury always require a phase 3 on-chain vote. For a proposal to move to Phase3 Snapshot On-chain vote, it must be championed by a DAO Operator who has access to create snapshot proposals.
Phase 3: On-chain vote
Successful phase 2 proposals that require an onchain vote are uploaded to Snapshot by DAO Operators where all GOLDUCK token holders can vote for free (gasless) during a 7-day period.
Supermajority Requirement: A vote will be considered passed if it receives at least 66% affirmative votes.
Once completed and if passed, execution will be done by Multi Sig owners.
DAO Operator has access to create snapshot proposals. Anyone can become DAO Operator if they are in the top 20 holder of the GOLDUCK altogether on multi chain. If you are in the top 20 holder altogher on 4 chains , please contact GolduckDAO Board to list you as DAO Operator
DAO Board Members has access to Multi Sig Owners. Any one can become DAO Board if they are in the top 10 holders of the GOLDUCK altogether on multi chain. If you are in the top 10 holder altogher on 4 chains , please contact GolduckDAO Board Team to list you as Multi Sig Owner. ****
GOLDUCK DAO BOARD Member
Anyone in the Top 10 holders of Golduck on Multichain can become DAO Board Member
Anyone in the Top 20 holders of Golduck on Multichain can become DAO Operator
DAO Operator will create proposals for voting
GOLDUCK TOKEN Holder
Golduck Token Holders will participate in voting proposed by the DAO Operator
Multi Sig Wallet
GOLDCUK DAO BOARD Members are usually Multi Sig. After voting is passed by the community, GDB will execute transaction via Multi Sig
Key Design Choices
GOLDUCK DAO Treasury
Gnosis Safe Owner
Gnosis Snapshot Space Owner
Delegate All only
GOLDUCK holders must delegate before voting (can delegate to themselves)
GOLDUCK DAO Treasury (Gnosis Safe)
GOLDUCK DAO uses a direct implementation of Gnosis Safe to store its treasury assets. Gnosis Safe is a widely used standard for enabling multi-sig control over an Ethereum address.
The GOLDUCK DAO Treasury plays a very important role in GOLDUCK Ecosystem. It provides for the growth and sustainability of GOLDUCK.
The treasury is used to buy back GOLDUCK, to fund new products, services, and projects that will expand and build up the use cases. GOLDUCK Treasury provides funding for marketing GOLDUCK.
GOLDUCK DAO's main treasury contract is upgradable and can be found at the following Ethereum address:
MultiSig Wallet of ETH/BNB/Polygon
Do not transfer assets into the GOLDUCK DAO Treasury unless you intend on making a donation. Transferring assets into the GOLDUCK DAO Treasury will not return any GOLDUCK tokens or any other tokens. Any assets transferred into the GOLDUKC DAO Treasury address cannot be recovered unless there is a DAO proposal and vote to do so.
Governance Module (Gnosis Snapshot)
Gnosis Snapshot is an off-chain vote aggregation platform. Snapshot supports off-chain governance for many industry leading blockchain and DeFi projects such as Balancer, Yearn Finance, SushiSwap, Uniswap, Bancor, The Graph, and Aave. We chose Snapshot as an off-chain vote aggregation platform to make governance simple and transparent for our users. It is a tried and true solution with a great user interface and user experience.
Snapshot is used for voting. Proposal drafts that have passed from DAO Operator Team will become available for voting on Snapshot. GOLDUCK holders must go through a wallet authentication process to vote.
Snapshot-based governance, is commonly referred to as "soft" governance as the result of the vote is not automatically implemented -- it requires GDB team to perform subsequent actions, and implementation of changes via a multi-sig.
The members have to hold GOLDUCK tokens in order to be able to vote on Snapshot. (GOLDUCK must be on Ethereum/BSC/Polygon/Andromeda for voting participation).
1. A Snapshot is created and an announcement is made in the community groups to see the proposal and vote. .
2. After voting is complete, the decision is made by a majority of voters. The transaction will be created for approval on Gnosis Safe.
3. The transaction must be approved by the Multi Sign- owners in order to execute the transaction.
In order to become a signer across the community vaults, the member must be elected as GOLDUCK DAO Board Member and hold enough GOLDUCK Tokens (combined from the different chains) to be in the Top 10 holders list.
The GOLDUCK token contract address is: 0xE585E1878856868D9657aab815A8b8BA6a7A960D
Initially , GOLDUCK DAO treasury (Gnosis Safe) and Snapshot Space are administered by a multi-sig wallet, Usually Golduck DAO Board Members are multi-sig.
We will look to community suggestions to distribute the signing keys more widely (for example 5 of 10 signers by electing them as GDB). Proposed changes to multi-sig signers or rules will be submitted via Snapshot proposal and voting process.
Proposal and Voting Parameters
Phase 1 Parameter
Minimum 7 days
- The above settings are managed by the GOLUDCK DAO Snapshot Space administrators/dao operator team, who have been nominated by the GOLDUCK DAO Board Members.
- Initially Snapshot, the above parameters are policies and not enforced by code. The GOLDUCK DAO Operator Team will not recognize any proposals that do not comply with the above settings.
- The above settings can be changed. We will discuss with the community on our forum, and submit a proposal vote prior to making any changes.
Snapshot Strategy: We use Multi Chain Strategy. Snapshot will calculate the balance from various chains like Ethereum, Binance smart chain, polygon and use them for voting. To know more about Multi-Chain Strategy: https://snapshot.org/#/strategy/multichain
Proposal Threshold "Proposal Threshold" is typically defined as the number of votes required to create a proposal. In GOLDUCK DAO Snapshot Space this is done through a visual filter, to only display proposals from users who have at least the threshold number of GOLDUCK tokens delegated to their address.
Vote Duration The length of time between voting start and voting end.