This article is taken from our project Whitepaper for convenience. You can view and download the original PDF here: https://aviator.ac/Flightpaper
A DAO, or Decentralized Autonomous Organization, is a management structure that uses blockchain technology to automate certain aspects of voting and transaction processing.
The Aviator project aims to embrace the powers of decentralization by fully utilizing the DAO to approve ALL outgoing uses of funds from the Treasury, thereby making the treasury wholly owned by the community. Following community approval, any outgoing transaction must also receive approval from 3 out of 5 multi-signers, providing additional oversight and protection of project funds.
The Aviator DAO utilizes snapshot: https://snapshot.org/#/aviator-dao.eth/ for a transparent and accessible voting protocol.
To participate, simply visit the site, connect your wallet that holds AVI, and vote on the proposals available. Voting only requires a signature, which does not incur a gas fee. In order to be eligible for voting, users must hold AVI tokens prior to proposal publication. Voting power is determined by the amount of tokens held at the time each proposal is created.
Standard Procedures
Project proposals will be presented on social media for discussion, and discussions will be hosted on the Aviator community Discord server. Users of other platforms are encouraged to host their own discussions.
- Major proposals voting shall last 7 calendar days.
- Minor proposals voting shall last 3 calendar days.
- Proposals may be repealed with a two-thirds supermajority vote.
- Amending this constitution shall require a three-quarters supermajority vote.
The multisig has an emergency veto capacity in the event a proposal would be deemed harmful to the project. A veto requires unanimous approval from all five multisig signers.
Funds in other project-operated accounts such as Marketing or Bridge addresses do not require DAO approval for transactions.
There shall be no minimum quorum required for proposals to finalize.
Proposal Creation
There are currently no direct proposal publications by AVI holders.
Community proposals can be submitted at any time to dao@aviator.ac. Selected proposals shall be presented to the community for discussion before the decision is made to publish it for DAO voting. All proposals that make it to a DAO vote shall receive $50 in AVI from the marketing account as an award.
