We believe that ToON DAO is our way out from the coordination trap and a potential way to new opportunities. A perfect problem solving case, isn’t it?
DAO-based governance in ToON implies that the project is managed by a peer community member that forms ToON’s future and distributes charity funds through vote.
Smart contract constitutes DAO that has an elected leader (the Maintainer) controlled by token holders.
The Maintainer is motivated and rewarded to effectively develop the ecosystem, has a sufficient powers to do good stuff, but no power to cause any harm. Crucial duties of the Maintainer are performed off-chain. The Maintainer:
- Suggests smart contract upgrades
- Proposes donation options
- Uses Bounty tokens to promote ToON Token
- Develops ToON Ecosystem in general
On-chain activities of the Maintainer are limited to submitting proposals and setting wallets for Maintainer and Bounty token distribution.
Any upgrade/distribution proposal the Maintainer makes is subject to 2-week delay. During this time the community is able to form an opposition (when 10% of the voters vote for an alternative leader). In this case a proposal gets delayed for additional 16 days. If over 10% more voters join the opposition during this time, delay goes further and further, up to 180 days, when proposal will be approved automatically.
Any token holder has an ability to vote for the current Maintainer and to change the vote any time for alternative leader. Whenever the Maintainer loses the majority of the votes, anybody can call a special method in smart contract that will “break the consensus”.
In this case all Maintainer’s proposals are rejected. Token minting stops and the community gets the ability to find a new leader. After somebody new gets over 50% votes, the «restore consensus» method of smart contract is called and everything goes back to normal.
Members will be able to participate in the governance process via ToON personal accounts.
To join the DAO, you need to have ToON Tokens in your web3-wallet, or get them via: