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For the most part, we want to create a DAO for transparency of all the mechanics of our tokenomics.
Therefore, this document describes our vision for a DAO Galaxy of Fantasies.
The DAO community will, through a vote, have the right
- to decide which charities the % of collection sales will go to.
- involvement of developers.
- Selection of creative creators from the Galaxy of Fantasies gallery for the realization of their collections with a location on the planet ARTARIA.
- improvement of the ARTARIA ecosystem.
- monetary policy.
There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
The obligation to update forward-looking statements if circumstances or estimates or management's views should change, except as required by applicable law. These forward-looking statements are inherently subject to significant risks and uncertainties. These statements are not guarantees of future performance and should not be relied upon unduly.
No financial, tax or legal advice is given or implied.
The rise of web3 in recent years has been an explosion of creativity, deep community engagement, innovative economic activity and new mind-altering technologies - all based on cryptographic primitives that allow various transactions without trust. Web3 has led to new forms of decentralized finance that eliminate the need for gatekeepers and intermediaries in financial transactions, as well as the concept of true ownership and origin of digital assets through interchangeable tokens ("NFT"). These technologies and more are essential to the complex mechanics and economics of the ARTARIA meta plane.
This paper focuses on web3 innovations in community building and token holder governance - decentralized autonomous organizations ("DAOs"). While DAOs are in their nascent stages and growing rapidly, we expect them to expand in scale, mature and begin to enable digital democracies on an unprecedented scale.
An active DAO is essential to empowering developers and the Galaxy of Fantasies community.
Decentralization at all levels of Galaxy of Fantasies, economic and managerial, is a core principle of web3 that also has practical implications. It aligns the incentives of creators with consumers, fostering innovation on the part of all participants. It lowers access barriers and eliminates rent-seeking intermediaries. It allows the global community to exercise transparent self-governance without any friction, without having to rely on unreliable intermediaries. And it underpins resistance to censorship, which means that Galaxy of Fantasies, once its systems are fully built and deployed on block chain, can live virtually forever.
The DAO Galaxy of Fantasies should not only be fully decentralized, it should also be built to last.
We hope that this document demonstrates our commitment to transparency and decentralization, as we want to build a community that can last forever.
The permanence of this is achieved by deploying as many protocols and chain of command logic as possible. In other words, NFTs affirm ownership of the digital asset and the immutable logic of the smart contract management protocol, which will continue to work as long as the underlying block chain network continues to operate.
Decentralization is a fundamental requirement for achieving resilience to censorship.
Of course, DAOs are not a panacea for all human co-ordination problems. Even in their short history, DAOs have encountered numerous problems, including:
Decentralizing too quickly without a plan to achieve market fit for the product causes the project to lose momentum and focus and potentially fail.
Too many cooks spoil the broth - at least in the early stages of the project life cycle.
Making ill-informed or even illegal decisions on the basis of popular vote without considering the wider implications, without following reasonable procedures to protect due process, and without seeking help from consultants or specialists.
Let's start with a simple concept - how effective organizations make and implement decisions. We believe that an effective management system can be divided into three levels at which decisions must be made: vision, strategy and execution.Every effective organization follows this basic structure.Full decentralization requires careful progress. It cannot exist, at least sustainably, from day one, but once achieved, it gives significant strength and stability to the digital society. Through this prism, our focus is to ensure that Galaxy of Fantasies consistently takes steps towards increasing decentralization, while adhering to a sustainable and effective governance system.
The DAO also has the discretion to determine monetary policy in the Galaxy of Fantasies ecosystem, how tax revenues are spent and how the emission curves and other design of the Fantasy token token can be changed (if at all).
Finally, DAO makes broad decisions for ARTARIA's meta-planet and brand. For example, the DAO may vote to hire a developer to create a new gaming experience for Galaxy of Fantasies or to associate the Galaxy of Fantasies DAO brand with a potential partner.
A properly functioning DAO should make decisions consistent with the long-term vision.
DAO Galaxy of Fantasies decisions should be made by, but not controlled by, the Council of Elected Representatives. One of the main problems faced by many today is that pure direct democracy, in which every decision is discussed and weighed by every member of the community, leads to inconsistent results, poorly thought-out proposals (sometimes issuing illegal or unenforceable instructions) and noise that makes it difficult to move projects forward.
We believe that the quality of decision-making by the wider community is improved by having the Board steer the process of thinking about proposals and drafting in such a way that proposals are fully vetted before being formally put to a vote. The Council will provide input on draft proposals, taking into account potential legal errors and malicious or unintended consequences.
The single representative body may more easily obtain confidential information that could benefit the DAO if it is clearly in the DAO's best interest to keep such information confidential.
It would be easier for the board to get help from experienced professionals where appropriate.
Consistent recruitment of representatives checking proposals would add consistency to all proposals and ensure that all proposals comply with the Galaxy of Fantasies constitution
Galaxy of Fantasies Board members will be elected and replaced by the Galaxy of Fantasies DAO through network governance. The number of Council members and other details regarding the Galaxy of Fantasies Council (e.g. the length of their term of office) will be determined in consultation with the community. We encourage very active and dedicated community members to run for seats on the Galaxy of Fantasies Council.