Authors: MetricsDAO Governance Research Pod
After conducting in depth public discussions & research around the best governance constructs for MetricsDAO moving forward, we aim to provide the DAO with the foundations for an innovative, fair, and flexible governance process. This proposal outlines how a newly appointed MetricsDAO Governance Committee can govern.
Overview
The intention of this proposal is to formalize the MetricsDAO governance process, beginning with a construct that gives core contributors the necessary powers to implement key decisions for the DAO.
Most critical in this case is to ensure the implementation achieves two key goals: 1) it provides a flexible foundation that can evolve quickly with the rapid pace of change inherent in early-stage DAOs, and 2) ensures those with the most stake (in this case, sweat equity) are entrusted to usher in the next iterations of the DAO.
This will be done in phases. We outline our Phase 1 approach to create a MetricsDAO Governance Committee below.
Phase 1: MetricsDAO Governance Committee
Establishing the MetricsDAO Governance Committee is the transfer of power to pod leaders and the current leadership council, creating a robust governance construct. Calling this a “committee,” we aim to avoid confusion with the current leadership council.
Within this construct, we outline four core principles:
- Members
- Vote Weight
- Consensus
- Proposal Process / Vote Length
Please note, this is a phased implementation and will evolve over time.
I. Members: inclusive of current MetricsDAO Council & Pod Leadership.
Currently, MetricsDAO has a dynamic number of pods that exist to support organizational growth and development. Each pod may have more than one member who is considered a leader and who will sit on the Governance Committee alongside the current leadership council.
The Governance Committee will have 25 members when established, a number that will expand or contract with the aforementioned pod structure. This construct works best when member count is below 50.
II. Vote Weight: 1 person = 1 vote.
MetricsDAO prides itself on transparency and equality. As such, each member of the Governance Committee will share an equal vote.
This construct aims to provide a simplified voting process and create an equal voice for all pod leadership and MetricsDAO council members.
Additionally, it ensures that no member will control more than 5% of the vote.
III. Consensus: simple majority, >=51% quorum.
For a vote to be binding and for the DAO to adopt the outcome, we recommend a simple majority quorum. Quorum represents the amount of participation required in each vote.
Adopting a greater than or equal to 51% quorum requires more than half of the governance committee to vote and sets a precedent for higher voter participation.
Wider governance constructs in this space usually see about 20% participation. MetricsDAO has an opportunity to far exceed this participation rate.
IV. Proposal Process: this happens in four steps.
- Step 1: Any Governance Committee member can bring a proposal forward
- Step 2: Proposal is posted to MetricsDAO’s discourse forum
- Step 3: Temp Check poll goes up on the day of posting and will be considered live for 3 days - if it passes with simple majority & 20 vote minimum quorum, it moves to official committee vote 24 hours later
- Step 4: Committee votes on accepting the proposal in Discord via the Forum channel
Keeping developments public and welcoming feedback is important to the DAO. Thus, it is imperative that voting be transparent and verifiable.
When a member of the broader DAO community (i.e. not currently a sitting member of the MetricsDAO Governance Committee) hopes to create a proposal during Phase 1, they can ask a committee member to co-sponsor their proposal to be posted on the forum.
As for official vote length in Step 4, we hope to incorporate your feedback! What would work best? 3 days? 5 days? Share your feedback below.
Phase 2 & Beyond
In Phase 2, governance will become more complex and more automated.
Complexity will come in the form of token-weighted and participation-weighted Snapshot (off-chain) voting. Automation will come in the form of tooling and the development of smart contract-based voting strategies as needed.
Keeping with the spirit of MetricsDAO, this phase should be gradually ushered in with well-documented processes tracking verifiable outcomes with data and analytics.
We will evaluate the state of DAO governance monthly to determine the best time to implement Phase 2. This is largely dependent on the release and distribution of the $METRIC token.
Next Steps: Implementation
We propose the following to ratify this proposal:
- Seek community input for 5 days
- Poll included in post
- If simple majority is in favor, minimum 20 vote quorum, we will ratify and implement this construct
We look forward to gathering community feedback, and are very excited to mature MetricsDAO.
- FOR - establish the MetricsDAO Governance Committee
- AGAINST - do not adopt this committee model
0 voters