Pixel DAO Initial Governance State

Overview

At Pixel DAO we are committed to transitioning to a decentralized governance model but at the same time recognize it is very difficult to effectively coordinate an agile and adaptable organization with a vision and operational mandate such as ours. To ensure the long term health, stability and adaptability of the protocol we will be adopting a transitory structure that facilitates a smooth shift from centralized team control to a decentralized structure in a time bound manner.

The roadmap for the evolution of governance has been decided but we still welcome inputs from community members in our Discord server. Especially valuable community members who bring in-depth knowledge and experience in DAO governance, Economic policy, early-stage/VC investing, or smart contract and game development can earn the role of Sage and participate in the interim governance councils until duly elected council members are onboarded.

Currently, economic policy and allocation authorities are and will be held by the core team/multisigs who will be supported by advisors, and interim council members selected from the Sages.

The interim council members will be split into three general areas of responsibility and support the decision-making of the team through experience, research, due diligence and other inputs as required. This will ensure a balance between what may be divergent priorities but ensure rapid decision making and control.

With regards to the multisigs, we will utilize a 4/7 rule to execute activities in line with the DAO’s mandate during the initial post-launch period and into the transitory period. While this may ultimately be changed by the community, final treasury decisions and execution will rest with the core team and multisigs, supported by the advisors and interim council members for up to the first 90 days after launch. At that time a community vote will be held to determine the way forward.

Interim Council Composition

The founding contributors and core team realize the value and relevance of extensive domain knowledge and the need for advisors to aid us in navigating the turbulent nature of today’s markets.

Wonderland Money and its centralized governance is an example of what a competent core team backed by trusted advisors can do in terms of value generation. Keeping that in mind the core team members of Pixel have decided on appointing hand-picked Sages as council members for a period of no longer than three months, with the intent to transition quickly if conditions are favorable.

This model will also serve as a test of process and procedure while control still rests with the core team. The council members would be appointed for the following verticals and support the general functionality and decision-making within these teams. Each initial council will be small (seven to eleven individuals) and consist of core team members and advisors as well as the selected Sages from the community based on input and subject matter expertise. These initially selected community members will be validated by team members and also be prime candidates for the first round of community voting at the end of the transitory period. Active participation, domain knowledge, and a willingness to take on DAO governance council responsibilities have already been key factors in identifying and selecting some of the individuals to staff the councils.

Governance Council Structure

The first three governance councils to be formed will consist of the following and have broad roles and responsibilities. These councils will require deep coordination between them in order to effectively drive the protocol forward. The core team and advisors who already have a history of working together will serve as the connective tissue between these councils initially, until such a time that organic cooperation and aligned goals replace the need for the founding team. A general roadmap will be set forth in the coming days, based on inputs from the community’s sages.

Gaming Community Council

• Identifies, conducts due diligence, and negotiation, with prospective game developers and partner teams.
• Decides on the addition and removal of Gaming/Metaverse Treasury assets (with direct collaboration with the Policy/Economics Council)
• Propose new DAO sub-committees and leads/core team members (e.g scholarship programs, specific game guilds, etc.)
• Propose Metaverse/Gaming initiatives and programs that are concerned with the utilization of these assets (i.e. NFT sub-projects or completely new and innovative products for the metaverse)

Policy and Economics Council

• Modifying and Setting bond parameters.
• Adding and removing non-gaming/metaverse assets
• Adjusting treasury mix and deploying stable yield-producing strategies.
• Control of liquidity incentives and liquidity pools.

Technology Team

• Allocate funds for operations pertaining to tech innovation and maintenance.
• Security procedures and Bug Hunting programs.
• Automation-related tasks, algorithm development, operational research, and system design support.
• Branch projects and advice to accelerator partners.
• Building analytics and associated capabilities to support the functioning of other teams.

Nascent Governance Processes

Each Pixel DAO Council has particular objectives and discrete authorities which will be defined in their specific form by token holders in the future. The exact voting mechanism has not yet been decided but will be informed by inputs from the community. Once we implement the community vote infrastructure we will utilize Snapshot for proposals and votes.

https://snapshot.org/#/pixeldaofi.eth

At the moment decisions made by the team, informed by the councils, will be executed on-chain by the multisigs until a more trustless decentralized system is approved for implementation. In the meantime, the multisigs control the following:

Community Inputs, Initiatives and Future Implementations

As we move forward the core team will seek out the sages of the community to help with some of the following issues and topics.

1) Build proposals for the Harmony ONE Launch and DAO Grants in order to deepen our relationship with Harmony, demonstrate our commitment to moving towards decentralization, and compensate the hard-working community members of the DAO.

2) Develop a proposal framework for monetary/bond policy changes and test the ideation, internal discourse, decision making, and execution procedures for deploying strategies or managing bond parameter changes.

3) Continue to find, assess and select the right members of the community to become sages and form the candidate cohort for interim council members.

4) Refine the size and procedures for the interim councils to optimize for efficiency and rapid decision making.

5) Explore the use of Coordinape or adjacent products for managing budget allocation and compensation.

6) Research, evaluate, and implement a fair and decentralized voting mechanism for Snapshot which can also work with our wallet reputation system once implemented (Think conviction voting or similar approach).

In closing….

This will be an iterative process but regardless of the path, community engagement and inputs are crucial to the growth and future of Pixel DAO, remember…..

You must gather your party before venturing forth!