DigixDAO Governance Model — Update #10

In this governance update, we will introduce some additional mechanisms that have been added in the recent weeks.

Reputation bonus/penalty for Moderators

In DigixDAO, moderators will receive Moderator Quarter Points for the moderator specific activities. As mentioned in the previous governance updates, participating less than a minimal level will reduce the reputation of a participant, while participating above the required threshold of participation will boost reputation. This bonus and penalty for reputation was previously only applied for Quarter Points for the quarter. We have now integrated the reputation calculation to also consider the Moderator Quarter Points. This means, reputation of a moderator with plenty of moderator specific participation will be boosted. Also, a moderator’s reputation will be penalized for lack of moderator specific participation.

Flexible timeline for proposal milestones

The earlier governance model required that the proposers specify a timeline for their milestones before finalizing the proposal. After considering the pros and cons of this constraint, we believe that there may be some scenarios under which a proposer may need a little more, or less time for milestone completion, reasons for which may not be under their control. For example, dependence on a third-party organization can delay the proposal milestone duration. We now have modified our governance model to support a flexible timeline. Accordingly, the proposer will need to explicitly mark their milestone as finished, and thereby start the voting for the next milestone. We believe that DigixDAO participants will be able to tell if there were substantial delays in milestone completion and take that into account when voting in the subsequent voting rounds.

Update on the ETH:USD peg for Carbon vote 2’s proposal

We have just updated the DigixDAO’s on-going development funding proposal to include the exact terms on how the ETH:USD peg is determined for the 20MM funding. The link to the updated proposal can be found at the carbon voting site, or could be directly accessed from this link. Basically, we will take the snapshot rate of ETH/USD at the expiry of the proposal (4th September 2018 4:00 UTC) from two major public virtual currency exchanges, Gemini and Kraken, to determine the amount of ETH to be drawn from DigixDAO.

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