This is part (2/6) of the DigixDAO User Guide that will be released over the next few days, making it easier for users to digest the entirety of the guide.
We will be releasing the full guide in a downloadable PDF at the end of the series for those who prefer an offline version of our guide.
Another guide, focusing on interacting with the DigixDAO governance platform will be provided as well in the coming days.
Before diving into the details of DigixDAO, we thought it would be useful to have a brief introduction to the 6 roles in DigixDAO — Participant, Proposer, Moderator, Founder, PRL and KYC Admin. Keep in mind that the roles in DigixDAO are not mutually exclusive. For example, assuming all qualifications are met, a person can act as a Participant, Proposer and Moderator at the same time.
Participants form the majority of the roles in DigixDAO and are its main decision-making body. To be a Participant, a DGD holder has to lock the minimum number of DGDs to participate in a particular Quarter of DigixDAO. For the launch of DigixDAO, the minimum number of DGDs to participate is 10 DGDs.
Participants are the gatekeepers of DigixDAO — all Milestone Funding granted from DigixDAO requires approval from Participants. Participants are also able to comment on a Project at any point in time and can also vote for subsequent funding to be released from DigixDAO after each Milestone is completed. At the end of a Project, Participants can also vote on whether the Collateral and Final Reward of that Project should be granted to a Proposer.
Proposers are Participants who create Projects on DigixDAO. To qualify as a Proposer, a Participant has to provide his or her relevant KYC Information which has to be vetted and approved by the KYC Admin. As funding can only be granted by DigixDAO through Projects, KYC acts as a filter to prevent bad actors from requesting funding from DigixDAO.
Proposers are the core of DigixDAO — without Proposers and their Projects, Moderators and Participants have nothing to contribute to DigixDAO. For the launch of DigixDAO, the maximum funding that a Project created by a Proposer can request from DigixDAO is 100 ETH. During the lifetime of a Project, a Proposer is able to:
- Create a Project;
- Modify a Project;
- Claim Milestone Funding;
- Deliver the Milestones of a Project; and
- Claim the Final Reward.
In DigixDAO, a Proposer can simultaneously act as a Participant and/or Moderator, meaning a Proposer can endorse their own Projects as a Moderator at the Idea stage and vote for their own Projects as Participants or Moderators during the various stages of their Project.
Moderators are Participants who are able, at any time in a given Quarter, to:
(i) lock the minimum DGDs required to moderate, which was decided to be 842 DGDs in Carbon Vote 1; and
(ii) accumulate the minimum Reputation Points required to moderate, which is 400 Reputation Points for the launch of DigixDAO.
Any Participant who has enough DGDs and Reputation Points will immediately qualify as a Moderator. Keep in mind that all Moderators are also Participants in DigixDAO. Any Participant with a DGD Badge is able to redeem 412.5 Reputation Points, which grants them enough Reputation Points needed to qualify as a Moderator at the launch of DigixDAO.
Moderators are able to screen all Projects before they can be voted on by Participants. When a Project is at the Idea stage, a Project would require a Moderator’s Endorsement before it can progress to the Draft stage. When a Project is at the Draft stage, only Moderators are allowed to vote on a Project to determine whether it can move to the Proposal stage.
We, as Digix, will primarily participate in DigixDAO as Founders. A Founder’s role in DigixDAO is to provide supervision of DigixDAO as well as to carry out Special Projects. Apart from Special Projects, a Founder can:
- After the end of each Quarter, initiate the start of each new Quarter in DigixDAO;
- Create a Project which requests funding exceeding the maximum funding limit; and
- Close inactive Projects which have been in the Draft stage for more than 90 days.
The addresses that we have allocated as Founders are:
Policy, Regulatory and Legal Department (PRL)
The PRL’s role is to pause or stop funding for any Project at any point in time due to policy, regulatory or legal concerns. Such concerns could be that a Project:
- Goes against the Vision, Mission or Guiding Principles of DigixDAO;
- Is contrary to the Terms of DigixDAO, including our Anti Money-Laundering Policy; and/or
- We know or suspect any other legal or regulatory concerns which may arise from a Project.
The addresses that we have allocated as PRL are:
Know-Your-Client Administrator (KYC Admin)
We currently only require Proposers to provide KYC Information. Accordingly, the KYC Admin’s role is to process and manage the KYC Information we receive from Proposers. We require Proposers to provide KYC Information in order to administer an initial check on the legitimacy of the Proposers, as well as to impose some accountability on Participants who want to create a Project.
The address that we have allocated as KYC Admin is:
We always appreciate feedback from the community on any angles, so do drop us a note or join our channels below:
· Medium: https://medium.com/digix
· Reddit: http://reddit.com/r/digix
· Twitter: https://twitter.com/digixglobal
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· Github: https://github.com/digixglobal
· Telegram: https://t.me/digixofficial§
· Discord: https://discord.gg/CCDBJJC
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· YouTube: http://www.youtube.com/c/DigixGlobal