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Governance

Process

FriesDAO uses Snapshot.org via Commonwealth.im for its governance process: https://commonwealth.im/friesdao. Good governance requires community dialogue and understanding of the matter at hand -- the following outlines a general guideline (and can be changed via governance) for how proposals and voting should be carried out:
  1. 1.
    A new issue that arises and could materially impact friesDAO should be discussed publicly in designated Discord channels as well as in the Commonwealth forums.
  2. 2.
    Members holding 400,000 FRIES may issue a proposal. This minimum is necessary to reduce spam and filter out entities with potentially insufficient loyalty to the community.
  3. 3.
    Members with the ability to issue proposals are encouraged to identify themselves in the community so that they can hear the concerns and pitches of other community members and potentially act on their behalf and issue an important proposal.
  4. 4.
    Sudden proposals that have little to no pre-emptive discussion are discouraged and are less likely to have active voting participation without sufficient "temperature check" in the community through dialogue.
  5. 5.
    Any member holding any amount of FRIES tokens may vote proportionally on a proposal.
  6. 6.
    A total of 15% of the circulating token supply is required to be considered a quorum (sufficient participation).
  7. 7.
    If a proposal passes successfully, any smart contract(s) or authorized member(s) with relevant legal, business development, code development, and/or multisig treasury access capacity will execute the actionable results accordingly on behalf of the community.

Types

Governance is anticipated to involve the following, but not limited to, example types of issues:
  • Spending Treasury money or tokens
  • Spending operating profits owned by contract operator owners of the store
  • Determining NFT function
  • Determining whether to move forward to finance or purchase a particular restaurant, brand, or location
  • Recalibrating emission rates of token rewards or incentive pools
  • Changing the token requirements (e.g., amount of tokens to issue a proposal or qualify as a quorum) for the governance process itself
  • Other issues that may fundamentally or materially impact friesDAO, as needed

Treasury

The treasury will be kept in a Gnosis Safe controlled by a multisig detailed in Treasury. This will ensure the security of funds and make sure that moving funds requires the signatures of multiple authorized members.

Transparency

Every action by members regarding treasury funds will be made transparent to the DAO community, and in most cases, require proposals to pass.