Below is an outline of how I am thinking about it… would love any other ideas or suggestions.
The decentralization of Rarible DAO will happen in phases. Below is a proposal of where we would like to be in a couple months. This setup is an interim DAO structure before we are ready to transition to something more decentralized.
- Multisig: This is where the DAO treasury lives. Signers will primarily be large tokenholders who execute payment proposals. In all likelihood, there will be a multisig admin who lines up all proposals for voting in addition to a simple bookkeeping process to make auditing / verification of payments as simple as possible. Multisig holders would likely execute all transactions approved via Snapshot, even if they disagree with the proposals in question (unless there is a security risk).
- Council members: These are groups of people who are “in the weeds” of the operations of the DAO. For the most part, these are people or groups who have been delegated votes and who are actively working for the DAO, ideally full time. This would include people with various complementary skills, including for example developers and artists. Official Council members will consist of 5-10 people ideally but will start smaller. Council positions might have rotations and is likely not a paid position. This group is tasked with ensuring the DAO keeps operating smoothly and only good proposals get passed. Expectations would be that Council members meet likely multiple times per week to discuss proposals and ongoing activities within the DAO. Non-council members will still be able to attend Council meetings to ensure we maintain an open community with participation from everyone.
- Snapshot: Tokenholders would vote on proposals via Snapshot. This includes Council members who have been delegated votes. The basic snapshot will include quorum, as well as a minimum number of RARI required to submit a proposal.
Multisig holders (and tokenholders in general) can choose to remove Council members by un-delegating their votes. To become a Council member, it might make sense to have a minimum number of votes delegated to you.
Stages to get there
- The stage we are currently at (we have Snapshot voting + manual distribution of funds from Rarible team)
- All proposals posted in Snapshot are posted only by the Rarible team
- We add quorum and delegation to Snapshot
- We add a multisig with signers, and start managing the treasury here (this has already been done!)
- We hopefully find a few promising Council members. Possibly some multisig signers also play a role as Council member, or they still actively participate in the voting process.
- All proposals posted in Snapshot are still posted only by the Rarible team
- We grow the number of Council members
- We increase the amount of votes delegated to Council members
- Once we are happy with the Council, we open up the proposal process and allow anyone to submit proposals (with a minimum $RARI balance to reduce spam). This might possibly be expedited to Stage 2.
- TBD, likely a more decentralized approach