Work in progress on how the DAO works. (NOT FINISHED)
tl:dr
Users can claim one vote token every three months. The max they can claim in any 3 month period is one vote token.
Users must delegate their vote tokens to themselves or others to vote and create proposals.
Users with at least one vote token can create a proposal.
In order for a proposal to pass, at least 25% of the DAO must vote “yes” on the proposal.
The DAO is comprise of two smart contracts:
DAO Vote Token
OpenZeppelin Governor
The Vote Token is what tracks an address voting power. This is not the Pride Punk. Pride Punks are not compatible with modern on or off chain voting systems. Vote Tokens are non-transferable. They can not be sold or transferred.
OpenZeppelin Governor is responsible for creating proposals, managing the lifecycle of proposals, and counting the votes on a proposal at the end of a proposal period to determine if the proposal passes or not.
Vote Tokens can be claimed based on a combination of Ethereum Address and Pride Punk NFT’s held.
Each Pride Punk NFT allows the address which holds it to claim 1 Vote Token every three months. The timing of the three months starts from the first moment a Pride Punk NFT is used to claim a vote token.
Each address that holds a Pride Punk NFT is allowed to claim 1 Vote Token every three months.
No Address or Pride Punk NFT can claim more than 1 Vote Token in a three month period.