(in progress)
// Update //
Specs for the DAO and how Vote claiming will happen will be released in the next couple of days. Please be patient. The purpose of the DAO will be to support LGBTQ+ issues and inclusivity in Web3. The smart contracts for the Governor and Token are here.
Once team members have completed minting and the DAO has received its allocation, the control of the smart contracts will be transferred to the DAO. Most likely one of the first DAO proposals will be to burn the smart contract keys.
The smart contracts for distributing voting power are in development.
The high level details are as follows:
DAO Voting power is based on a non-transferable voting token.
Each address that holds a minimum of 1 PridePunk NFT will be able to claim 1 vote token.
Each address receives 1 vote irrespective of the number of Pride Punk NFT’s it holds.
Membership in the DAO is by address, not by number of NFTs held.
Each address holding a PridePunk NFT is eligible to claim 1 vote token every three months.
The vote supply is inflationary. To maintain respective voting power in the DAO, an address must claim every three months.
If an address holds a PridePunk NFT, claims its vote, and then immediately transfers the NFT to a second address, the second address must wait three months to claim a vote token.
Update: This mechanic might not be possible to enforce, as it would be possible for a users to hold so many tokens that in one transaction it would not be possible to iterate through their holdings.
The DAO will launch with an initial group of stewards aligned on the core mission and values of promoting LGBTQ+ issues and diversity in web3. Update: Launch stewards might be too hard to coordinate, potential stewards have expressed concerns as being labeled as targets for trolls by accepting the role. Rather than calling out individuals as a steward, it might be best to leave it open to the community to decide.
Launch stewards will be receive a one-time grant of voting power to ensure the DAO is functional in it’s mission from day one.
Stewards initial delegation of voting power will be diluted over time as committed community members continue to claim voting power on a regular basis.