On-chain activities of the Maintainer are limited to submitting proposals and setting wallets for distribution of Maintainer and Bounty tokens:
- Maintainer Tokens: extra 10% of tokens minted as the Maintainer reward after the token price in the contract exceeds $10. Note that there is the lockup period that lasts until the price doubles, or one year.
- Bounty Tokens: extra 10% of tokens minted for promotional campaigns after the token price in the contract exceeds $20. Note that there is the lockup period that lasts until the price doubles, or 100 years.
Implementation of 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.
Each token holder can vote on-chain for any candidate (the Maintainer), change their vote or abstain.
Whenever the current Maintainer loses the majority of votes, anybody can call an ad hoc smart contract method for “breaking the consensus”. In this case all proposals of the current Maintainer are rejected. Token minting stops; the community can elect a new leader. Once any candidate gets over 50% votes, the smart contract method restoring consensus is called. The whole system resumes normal operation.