Rarible DAO: NFT Governance PROPOSAL

Overview

  • Membership NFTs are given to value added members of the community. This would include: DAO workers, Working Groups, RARI stakers, Apps building on the protocol, other partners (among possibly other groups).
  • Initial NFT holders will be Alex, Eric and Alexei, and new members will be added by vote (30% quorum majority vote)
  • NFTs will be held in a multisig (multisig1), and sent to addresses once a new member vote has been passed.
  • In order to remain in good standing, a member must:
    • have a minimum 70 RARI staked
    • participate in our governance and value added to our community / working group (s): this is subjective and will likely be refined over time
    • demonstrate alignment with our core principles and values
  • The RARI stake requirement will, for the time being, be a variable which can be modified via a separate 2/3 multisig (multisig2).
  • If at any point an NFT holder’s staked amount of RARI drops below the minimum threshold, their voting power is removed.
  • We initially mint an initial 100 NFTs, with a cool design.
  • For v0, there will be no way for the group to remove NFTs from members.
  • All Rarible DAO proposals would then flow to these NFT holders in good standing moving forward (this would exclude all Working Group proposals of course!)

Initial Member Addition Process

  • New members will need to be SPONSORED by existing members
  • A private Discord channel will be created for members that are in good standing, as well as a private forum to discuss new member proposals
    • New member proposals will include information about the member, their time commitment / availability to the DAO, among other information we will include in a New Member template
  • After a minimum period of time (5 days), the new member proposal is submitted to Snapshot. Once a new member gets voted in, they are sent the NFT by multisig1.
  • We will also have a public forum board where individuals can submit an application to become a new member. In order for them to actually become a new member though, a new member will still need to sponsor them.
3 Likes

Just adding a few questions / clarifications / needs for clarity:

  • IMO, it’s vital that the NFTs be non-transferable (as has been said a bunch of times in the other threads). That should be in here right?

Is this a 30% quorum majority of the NFT holders or by the whole DAO (NFT holders + RARI holders)?

Is multisig1 the main DAO multisig?

Where will this happen?

So does this proposal also include a brand new staking system? AFAIK, there is no such system right now.

Also, do we really need two different new multi-sigs for this? (If that’s what this is proposing?)

This section seems a bit off to me. If new members need to be voted in any way, isn’t that all the “sponsorship” necessary? Especially if there will be a public way to apply / suggest people either way? Is this section here to stop the snapshot from getting spammed? Perhaps something simpler can be done.

2 Likes

Answers to your questions:

  • I was thinking we would just start with a regular NFT. A non-transferrable NFT, I think, would slow things down (could be wrong here, maybe it should be included!)
  • The 30% quorum is proposed to only be the NFT holders
  • “Is multisig1 the main DAO multisig?” : yes
  • “Where will this happen?” : there needs to be a staking interface. The staking contracts have already been created.
  • I was going to update the proposal last night: you are correct, we don’t need two multisigs. We only need Multisig1, since the snapshot parameter (the 70 RARI requirement) can be changed via an admin.

In order to execute on this, we need:

  • A staking interface
  • An NFT held by a multisig
  • A snapshot strategy

In terms of the last comment, the problems this was aiming to solve were: 1- spam to snapshot, 2- having a process for new members. I tweaked it a bit, but don’t think it’s complex personally:

  • New members proposals need to be posted by an existing member
  • We will have a public forum board where individuals can submit an application to become a new member
  • Applications should include information about the member, their time commitment / availability to the DAO, among other information we will include in a New Member template
  • After a minimum period of time (5 days), an existing member can choose to post it to Snapshot. Once a new member gets voted in, they are sent the NFT by multisig1.
2 Likes

A non-transferable, burnable-by-the-DAO NFT contract is definitely like a 1-2 day project, max, so I think it’s totally doable if we want to do it.

Is this a fair rephrase?

  • Anyone can post a forum proposal to join
  • Only people with voting power can post the proposal to snapshot

That seems fairly non-controversial to me if so.

3 Likes

In that case I would support a non-transferable, burnable-by-the-DAO NFT contract.

Yes, your rephrase is accurate.

2 Likes

Updated proposal below, with staking removed for v1.

Overview

  • Membership NFTs are given to value added members of the community. This would include: DAO workers, Working Groups, RARI stakers, Apps building on the protocol, other partners (among possibly other groups).
  • Initial NFT holders will be Alex, Eric and Alexei, and new members will be added by vote (30% quorum majority vote)
  • NFTs will be held in a multisig (multisig1), and sent to addresses once a new member vote has been passed.
  • V2 will include staking mechanics (requiring a minimum RARI staked)
  • Members who hold an NFT must remain in good standing, a member must:
    • participate in our governance and value added to our community / working group (s): this is subjective and will likely be refined over time
    • demonstrate alignment with our core principles and values
  • We initially mint an initial 100 NFTs, with a cool design.
  • This initial version will not have the ability to remove NFTs from members.
  • All Rarible DAO proposals would then flow to these NFT holders in good standing moving forward (this would exclude all Working Group proposals of course!)

Initial Member Addition Process

  • Anyone can post a forum proposal to join
  • Only people with voting power can post the proposal to snapshot

Future versions

Consider this as v1, with future versions possibly including:

  • Multiple NFTs held per person, or looking at the balance of Working Group NFTs
  • RARI staking requirement
  • The removal of NFTs from members

Future iterations will be decided by members in the same way as other proposals.

Here is where the builder group is actually tracking this scope.

Can we keep further revisions of the scope to that doc instead of additional posts in the forum? I think these are quite hard to keep track of.