MeebitsDAO: Structure, Governance & Roadmap
- Part 1 — Introducing: Meebits DAO
The TAO of a DAO
Restating our common goal–
We want to create a vehicle for funding a series of innovative projects that will develop the ecosystem around Meebits.
We can 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 the milestones and delivery of our projects.
Let’s look at some of the goals and interests we think we’ll need to balance:
- Large investors who want to have a fair share of influence / small investors who want to make sure their voice counts
- Founding members who want a fair value exchange for their contribution to the fund and locking up their Meebits / Non-voting members who want their participation also to be valued fairly
- Developers & project contributors who want to be incentivized and rewarded for their time and effort on projects / DAO members who want long-term value for their ongoing support via the projects created through the fund
- General sponsors who want to contribute in return for some value exchange / DAO members who want complete authority over the development fund
Disclaimer: Everything that follows is a work-in-progress to discuss and debate until we’ve set the charter and opened the DAO — but we do think we have a good model for taking everyone’s best interests into account.
Our goal is to be as 100% transparent as we set up the structure of the DAO, and completely in the hands of the DAO once we’ve launched
Let’s not just say we’re a DAO — let’s really do this!
Proposed Structure & Governance for MeebitsDAO
We’re looking at two types of membership:
Advisory Board — the advisors exist to support the DAO, and should actively engage in the decision making as well as giving guidance, support and opening doors for the development teams that are working for the teams. Beyond that, the Advisory Board does not have additional rights or privileges. They may be Voting Members or Non-Voting Members depending on their contribution, the same as the general community.
Voting Members — initially the Founding Members, but voting rights will be tokenized (ERC-721) and transferrable. These members will vote on proposals, project plans, changes to the roadmap, awarding hackathon winners, etc. — this is the governing body of the DAO.
Non-Voting Members — holders of general membership tokens (ERC-20) without holding voting tokens will still be able to ‘stake’ their tokens in Voting Members who may act as delegates. In this way, there can be a representative governance, reflecting the wishes of the general membership. The goal here is that we’re allowing access to participate in the DAO at all levels.
Sponsors — can contribute to funding the administrative & infrastructural costs of running the DAO (e.g. community managers, custom tool development, overheads), with budgets that will be approved by the governing body of the DAO, but these funds are independent of the DAO treasury which will be used for funding project teams. In return, sponsors would be able to do things like create project proposals for the DAO to consider, or organize hackdays for the DAO. Sponsors can also fund specific projects — for instance, Metaverse Inc. could sponsor a team to build Meebits into their Metaverse VR app, and those funds would be returned to the treasury.
- May 2021 — MeebitsDAO community established on Discord
- June 2021 — Founding & General membership is open
- July 2021 — Developer proposals & Team applications received, Hackathon takes place
- August 2021 — Round 1 Project proposals are voted on, project teams receive initial funding towards their first milestone
- October 2021— Small projects are completed, larger projects move into Round 2 & receive additional funding
- ROUNDS CONTINUE IN 3 MONTH CYCLES
- Q2 2022 — Target for first larger project to be acquired by 3rd party, returning value to the fund
Agree with this structure & roadmap? Disagree with it? Looking forward to discussing it in our soon-to-be-announced Discord!