Claim Your MeebitsDAO Governance Tokens (mVOX) now!
What is the future of MeebitsDAO? You decide!
TLDR: MeebitsDAO General Members can begin claiming and delegating mVOX tokens now.
You may have read some of this in our General Membership FAQ, but a refresher is always helpful…
What does the MeebitsDAO do?
MeebitsDAO is a development fund that is building the open, interoperable metaverse.
We are a vehicle for incubating and funding a series of innovative projects that will develop the ecosystem around Meebits. We aren’t hanging in the wings waiting for the metaverse to build itself; we want to shape it by creating small interconnected pieces of it by bringing our Meebits to life, making them interactive, and letting them interact with each other.
We do this by balancing the collective goals of the members of the DAO as fairly as possible, making sure everyone’s voice is heard — and at the same time making sure that there is momentum around decision-making and clear accountability around milestones and delivery of our projects.
How does voting work?
We operate under a Delegated Governance Model. In this model, there are two types of members: Founding Members and General Members. Founding Members vote directly using a platform called Snapshot while General Members delegate their voting power to a Founder using Delegate Tokens (mVOX). When you delegate your voting power to a particular Founder, it increases the weight of that Founder’s vote. Here is how the weight of a Voting Member’s vote is calculated on a given issue:
Voting Power = Meebits Held (20 max) x Delegated mVOX Tokens
How do Delegate Tokens (mVOX) work?
The mVOX token ‘powers’ the voting structure of our Tokenized Governance Model. Your General Membership (GM) NFT can be used to claim one mVOX ERC-20 token per month. Over time, as you collect monthly tokens, your voting power and influence of the direction of the DAO increase through your support of the Voting Members to whom you delegate your tokens.
How do you claim mVOX tokens?
$mVOX tokens are on the Polygon network. Start by switching to the Polygon Network in Metamask. Then, you’ll need a small amount of MATIC in your wallet (on Polygon) to claim and delegate your mVOX tokens. If you don’t have any MATIC, you can try to acquire some from a faucet or token swap. Also, we’re putting it up to vote on whether we should airdrop a year’s supply of MATIC to all members for this purpose. See VOTE NOW below.
How do Founding Members become Delegates?
A Founding Member can opt-in to become a Delegate. We encourage all Founding Members to take an active role in determining the future of the DAO!
Do Founding Members get mVOX tokens?
Founding Members are eligible to mint a General Membership (GM) NFT for free (+ gas). If you haven’t done so already, please mint your GM NFT. By having a GM NFT in your wallet, you’ll be able to claim mVOX tokens.
To summarize, Founders should do the following:
1) Mint your GM token
2) Opt-in to become a delegate
3) Claim your mVOX token and delegate it to yourself or another founder
When does Delegate voting start?
The Tokenized Governance Model will take effect on March 1, 2022. Prior to this date, each Founding Member simply gets one vote. [Update: The Tokenized Governance Model is now live.]
Where and when does voting take place?
The voting platform we use is Snapshot. This is where Voting Members directly cast their votes and where you can monitor the voting status of active and closed proposals.
When applicable, a given vote will start on a Wednesday at 08:00 PT and end the following Wednesday at 20:00 PT. At least 10% of the Voting Members must cast a vote for that vote to be valid. Additionally, a vote will only be accepted if greater than 50% of the Total Weighted Voting Power (Meebits Held [20 max] x Delegated mVOX Tokens) votes in favor on a given issue.
VOTE NOW: Should we airdrop MATIC to all members?
The MeebitsDAO Tokenized Governance Model depends on General Members claiming and delegating mVOX tokens on the Polygon network. This multi-step transaction costs about 0.005 MATIC each month. Starting Wednesday, January 26th, Voting Members have the chance to vote for whether we should allocate approximately 0.4 ETH as a 1-year supply of MATIC tokens for all current and future members. (0.005 MATIC x 12 months x 10,000 members = 600 MATIC ~= 0.4 ETH)
UPDATE: All Members were airdropped 0.06 MATIC on Monday, February 14, 2022.
We are grateful to all of the Founders and General Members of the MeebitsDAO for helping to shape the future of this community project. Please join us on Discord to engage in the ongoing conversation!
