Submit your nomination for the KAP Governance Council here.
KAP Games was born out of a global body of players and software developers looking to push the boundaries of blockchain gaming through distributed SaaS and community content development.
As KAP Games matures, codifying our distributed DAO governance structure becomes paramount to ensuring continued alignment with the community’s best interests. To that end, three individuals (or entities) will be elected to the KAP Governance Council by way of democratic nomination.
Our governance structure follows a lineage of successful open-source governance bodies, namely Illuvium, Synthetix, and Ethereum itself, with additional inspiration from Compound.
KAP Governance Council Responsibilities
The KAP Governance Council is responsible for three key pillars:
- Distilling general forum discussion into actionable product direction proposals.
- Sourcing and managing strategic investments proposals aligned with our development.
- Approving exceptional operating expenses related to the DAO’s product development.
Product direction proposals and strategic investment proposals will necessitate public voting periods, during which all $KAP holders (on Polygon and Ethereum) will be able to vote.
It is crucial to the development and decentralization of the KAP DAO that you exercise your right to vote during these proposal periods, as your voice is critical for ensuring the KAP DAO remains aligned with the web3 gaming zeitgeist and produces software and content that you find most promising.
Specification Overview
There are three core components of the KAP DAO’s governance system:
The KAP Governance Council consists of three nominees who have been democratically chosen by $KAP holders, and are granted the power to execute certain multi-sig transactions following a community vote. It is their explicit responsibility to interpret the will of the $KAP tokenholders and act in the ecosystem’s best interest.
KAP Improvement Proposals are community-sourced initiatives that aim to direct product development or strategic investment. Proposals are first discussed in a public forum (either our Discord or Discourse) before being pushed to Snapshot for a ratifying vote carried out by the $KAP holders. Votes must pass a simple majority to be implemented.
KAP Governance Contracts are on-chain functions that govern direct treasury disbursements and staking emissions. These functions may only be controlled by members who have staked their $KAP in the $KAP-ETH LP pool as the highest indication of commitment and alignment with the KAP DAO.
Council Epoch
Council members will serve for one epoch, defined as a 12 week period (one fiscal quarter). Council members will need to be nominated each quarter & win election to continue to lead the DAO.
Council Stipend
Council members will receive 10,000 $KAP per epoch. This reward is meant to be primarily symbolic in nature, as council members themselves should already be heavily invested and involved in the success of the KAP DAO, and would not wish to cause undue stress on treasury functions.
Council Powers
Each of the members of the KAP Governance Council will be granted one signing key to the KAP DAO’s multi-sig operational treasury wallet. As a refresher, a multi-sig is a wallet-like contract that requires multiple users to sign a transaction before execution. This ensures a higher level of accountability and security than would otherwise be possible using a single operating wallet variably held by a number of operational staff. Our Gnosis multi-sig requires a 3-of-5 majority for transaction execution.
As a reminder, the KAP DAO also utilizes on-chain governance and treasury functions, which will be enabled later this year. By leveraging a Gnosis multi-sig in combination with the KAP DAO’s existing on-chain treasury and governance functions, the DAO can achieve both the rapid speed necessary for software development as well as the slow-but-steady speed necessary for decentralization and security. We’ll be posting a more in-depth guide on our on-chain governance functions as the time comes closer for them to be enabled.
Kapital Foundation
As a compliant organization, the KAP DAO is served and operated by the Kapital Foundation, which acts as an instrument of the DAO when executing legal agreements and other operational on-the-ground tasks.
The Foundation holds two signing keys for the KAP DAO’s Gnosis multi-sig. Therefore, the Foundation cannot unilaterally execute transactions, but, in the case of a stalemate among the rest of the council, can serve as a tie-breaker to execute an emergency transaction.
Your Opportunity to Govern
We are exceptionally proud of our community members who are responsible for the construction of our gaming software engineering group, and are ecstatic to be enabling this new era in the future of the KAP DAO. We invite all aspirational leaders to submit a nomination for yourself (or for a friend) inside of our Discord to claim your opportunity to become one of the next KAP Governance Council members.
Join our community to stay at the cutting edge of gaming innovation:
- Twitter: https://twitter.com/KAPGamesGG
- Discord: https://discord.gg/KAPGamesGG
- Website: https://about.kap.gg
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