IERC DAO, short for IERC Decentralized Autonomous Organization, is a community-led governance framework established within the IERC ecosystem. Initiated by Serj, the founder of IERC Protocol, and governed by IERC Protocol members. Driven by autonomous voting, IERC DAO aims to foster community participation, ensure transparent decision-making, and promote the healthy growth of the IERC platform.
Mission
At IERC DAO, our mission is to foster decentralized governance and community-driven decision-making within the IERC ecosystem. We strive to empower individuals to actively participate in shaping the future of our platform, ensuring inclusivity, transparency, and accountability at every step.
Vision
Our vision is to create a vibrant and thriving ecosystem where every voice is heard, and every contribution is valued. We envision a future where the IERC DAO collaboratively builds innovative solutions, driving the adoption and advancement of decentralized technologies across various industries and sectors.
Values
Central to the effectiveness of IERC DAO is a robust governance structure and carefully crafted tokenomics. Governance within IERC DAO is predicated on the principles of decentralization, transparency, and community empowerment. The governance framework is designed to enable stakeholders to participate in the decision-making process, propose initiatives, and vote on key proposals. Through active participation and transparent governance mechanisms, stakeholders are empowered to shape the future direction of the IERC ecosystem. Tokenomics plays a pivotal role in aligning incentives and rewarding valuable contributions within the IERC DAO ecosystem. The native governance inscription, $ethi, serves as a tool for governance and value capture, enabling inscription holders to participate in decision-making processes and receive rewards for their contributions.
The success of IERC DAO relies on the collaboration of various stakeholders, each with aligned incentives and dedicated to achieving the mission of IERC DAO. IERC DAO is structured as follows:
Committee Members
Committee Members are individuals who resonate with the mission and vision of IERC DAO and wish to contribute. They have access to IERC DAO's open activities and discussions on platforms like Discord and Telegram. These members can engage with the DAO by participating in bounties and other opportunities and possessing governance rights.
Community Members
Community Members are individuals who hold IERC DAO's inscription, $ethi. These inscriptions can be obtained through financial contributions or active involvement in the DAO's activities. Inscription holders enjoy comprehensive governance rights, allowing them to participate in decision-making processes via informal channels like Discord and Telegram, as well as formal inscription-based voting procedures such as Snapshot.
Working Groups, Stewards, and Contributors
IERC DAO establishes various working groups to advance its mission and vision. Each working group is led by a designated steward, responsible for defining the group's structure, setting specific KPIs, and assigning tasks. Contributors within these working groups may hold different roles, levels of responsibility, and engagement. Compensation for contributors is determined on a case-by-case basis and may include a combination of $ethi inscriptions and stablecoins. Active Working Groups:
The process of establishing a working group
The process of establishing a working group within IERC DAO follows a transparent and community-driven approach, ensuring alignment with the actual needs and development direction of the community. Proposals are typically initiated prior to the beginning of each quarter, followed by budget requests and other associated steps. IERC DAO's working groups operate on a quarterly basis, emphasizing transparency, decentralization, and long-term development. Here's the basic process for establishing a working group:
Service Providers
Service providers engaged by IERC DAO include professionals offering a range of services such as technical development, NFT development, and more. Compensation for these services may be provided in stablecoins, $ethi inscriptions, or a combination thereof, with terms decided on a case-by-case basis.
A dedicated staking pool will be opened for DAO members on https://app.ierc20.com/PoW-DPoS, allowing participants to stake $ethi and earn more DPoS points. Inscriptions staked will be locked for a period ranging from 3 to 12 months, offering potential annual yields. Holders will receive their staking rewards at 30-day intervals starting from the time they initiate their staking.
Within the expansive landscape of decentralized governance and community-driven ecosystems, platforms like GitHub and Snapshot play pivotal roles in facilitating community engagement, enabling transparent decision-making, and driving project funding. In the context of IERC DAO, these platforms serve as essential tools for empowering stakeholders, fostering collaboration, and advancing the collective goals of the ecosystem.
GitHub provides transparency into the development process of IERC DAO. Users can track the progress of development tasks, review issues, and participate in discussions around IERC features and enhancements. This transparency fosters community engagement and encourages collaboration among developers and stakeholders.
Snapshot serves as a pivotal platform for governance and decision-making within the IERC DAO ecosystem, enabling community members to voice their opinions and shape the direction of the DAO.
The governance decisions of IERC DAO are vested in $ethi inscription holders, who publicly propose, discuss, and vote on IERC DAO proposals.
The IEIP (IERC Ecosystem Improvement Proposal) is a mechanism through which community members can propose changes, enhancements, or new features to the IERC ecosystem. These proposals are initiated, reviewed, and published by IERC DAO, and subsequently voted upon by the community through the Snapshot voting platform.
Proposals serve as the primary means through which IERC DAO executes decisions allocates funds, and adjusts its strategies. These proposals may originate formally or informally. Informal discussions typically occur on Telegram or Discord. If these discussions lead to the need for a formal proposal, a member should upload a preliminary version on GitHub to gather community input. These initial proposals undergo refinement based on received feedback until they are ready to proceed. At this stage, the proposal on GitHub becomes the final version, with further edits restricted. Proposals requiring structured governance must be submitted to Snapshot (on-chain voting) for a formal vote based on inscriptions. IERC DAO will also utilize a soft governance mechanism via Snapshot to streamline decision-making and manage decision fatigue. This form of governance addresses smaller-scale decisions involving norms and local agreements, as observed in working groups or specific project evaluations. Notably, this soft governance approach excludes determinations related to governance, fund allocation, or treasury tokens.
Phase I: Ideation
Phase II: Formalization
Phase III: Consensus
Title: [KEEP THE TITLE CLEAN]
Date Created: [ADD CREATED DATE]
Date Submitted: [ADD DATED POSTED TO DISCOURSE]
Short overview
Sum up this proposal in a few bullet points or sentences.
Scope Description
Why are you making this proposal? What issue or opportunity is this proposal addressing? What are the driving factors behind why you think this is a good idea?
Detailed information about the proposal
Project implementation cycle.
Key results (Optional)
How will the project’s success be measured?
The IERC DAO treasury funds are managed on Safe, enhancing accessibility and transparency for all community members. Below outline the permissible uses of IERC DAO treasury funds, which can be accessed through the designated Safe address (eth:0xxx wallet to be created). Funding requests falling within these categories should be detailed in proposals:
Revenue generated by the IERC DAO project is directed to the IERC DAO treasury on Safe, subject to distribution according to proposal guidelines.
The Multi-Signature Committee oversees the IERC DAO treasury. To qualify as a multi-signature member, individuals must undergo selection through forum proposal elections and Snapshot proposal voting. Only those holding a Committee Member status are eligible for nomination as a multi-signature candidate.
Number of Signers
The Multi-Sig (Gnosis) Wallet of IERC DAO is managed by a group of 5 owners. Each transaction necessitates the confirmation of at least 3 out of these 5 owners.
Requirements for Becoming a Multisig Owner
To qualify as a Multi-Sig owner, individuals must exhibit a prompt response time to prevent financial bottlenecks and possess experience within the IERC DAO ecosystem. Prospective owners must meet the following criteria:
Requesting Transactions
In case of any payment requirements (e.g., bounty requests), a brief proposal and soft consensus on Discord/Telegram are necessary. It is recommended to consult with the Treasury/Governance Coordinator to assess available budgets.
Preparation and Execution of Transactions
All transactions will be shared in #governance or related Telegram chat, ensuring that Multi-Sig owners thoroughly understand the transaction details before endorsing them. Once 3 owners have confirmed the payment, it will be executed automatically.
Transparency in Treasury Operations
The financial operations are transparently recorded on the blockchain, with monthly statistical reports on expenditure and revenue published within the IERC DAO community.
IERC DAO represents a pivotal aspect of the IERC ecosystem, empowering community members to actively contribute to its development and growth. Through transparent governance and community-driven decision-making, IERC DAO ensures that the platform evolves in alignment with the collective vision and goals of its stakeholders.
Twitter: IERC Protocol
Discord: IERC Protocol
Document: docs.ierc20.com/devs/ierc-20
Website: ierc20.com