DeGate operates as a DAO, which has full control over the Treasury. The members of the DAO are DG token holders, who participate in the governance process, and delegate decision making.
While Home DAO pertains the right to change almost everything about the DeGate protocol, we view the following points as our foundational principles – whereby as a social contract that will not be lightly altered.
- Home DAO will be responsible for 100% of the losses caused by DeGate protocol’s own negligence.
- Home DAO will aim to minimize the tyranny of (token) majority.
- DeGate Home DAO operates and controls DeGate protocol, and is thereby entitled to the revenue generated
- Amongst other key decisions, Home DAO can decide through the governance process what to do with the revenue generated. To illustrate, Home DAO might decide to convert a portion of revenue generated into DG and custody it within a Home DAO account/treasury or burn it.
- DG token holders can initiate governance proposals, subject to minimal DG ownership requirement
- Major matters will be decided by Home DAO. We believe Home DAO’s ability to decide on major matters helps with stability and consistency of decision making and will help garner trust.
Home DAO will be initially managed by a multi-signature smart contract and can be upgraded to an open-sourced DAO management tool through governance.
DeGate DAO maintains integrity through transparency, as all major financial updates will be made public in the following Google Sheets. https://docs.google.com/spreadsheets/d/1sJ1F2hjAVrYWkvGthCB_CwEH-F3YOz-dXEhiuuzOQcY