Framework

A Decentralized Autonomous Organization (DAO) framework consists of several key components and features that enable the organization to function autonomously, driven by the consensus of its members.

Introduction

The Decentralized Autonomous Organization (DAO) system within Project X is designed to give the holders a direct say in project decision-making. This document outlines how our DAO operates, leveraging NFTs as voting tokens to empower our community.

Voting Power

In the X DAO, each Subject X (NFT) serves as a vote. This approach allows every NFT holder to actively participate in project decisions. While bigger holders have a bigger impact, it is important to note that there is not one member that holds more than 3.33% of the voting power at this moment.

Proposal Mechanism

Community and Team Proposals

Proposals for actions, updates, or changes can be initiated by both community members and our project team within our Discord community and in an upcoming update, directly on the DAO platform. Each Proposal is required to have a clear structure, view and pool.

The Colossus, a select group of large holders (25+ NFTs), play a vital role in our DAO. They review and enhance proposed votes by the community before they go live. Their guidance ensures proposal clarity and quality.

Voting Parameters

Transparency and Accessibility

To maintain transparency, we define the minimum number of votes required (for now set at 1.000 Votes) for a proposal to pass and the duration of voting (usually 3 to 7 days). This information is accessible on our partner platform, PeerMe, where the voting process occurs. Please note that the voting time can change depending on the "speed of reaction to an event" or the magnitude of the vote.

Future Enhancements

Inclusivity

In the near future, every NFT holder will have the ability to make direct votes. This can be done on the PeerMe or our official website, enhancing inclusivity and decentralization.

Conclusion

The PROJECT X DAO framework empowers NFT holders by giving them a voice in project decisions. We are committed to maintaining transparency and quality through community involvement and the Colossus review. Our future enhancements will further democratize the decision-making process, "giving the power to the people".