Council DAO is entrusted by the Home DAO to manage the day-to-day decision-making.
Council DAO will have partial rights to part of the DeGate protocol’s smart contracts:
Council DAO will have control over the periodic budget transferred from Home DAO for day to day DeGate operations.
The formation of Council DAO is to allow the protocol to react quickly in the highly competitive market environment.
Council DAO board members will be elected by DG token holders, whereby Council DAO decisions will be settled by 1 board member 1 vote. We expect to start Council DAO with 5 or 7 board members with potentially subsequent increases as the DeGate protocol scales. Board members should be capable and will be compensated via the Council DAO budget, while their work ethics will be scrutinized by the community.
Council DAO can hire employees directly and/or outsource tasks to outside 3rd parties.
Council Dao will be initially managed by a multi-signature smart contract, and can be upgraded to an open sourced DAO management tool through governance.
Council DAO address: https://etherscan.io/address/0x6eca0c220bb8005155f2903dbed2b43c6fa7c208