Proposals and voting process

(ArtCoin) Improvement Proposals ("AIP") form the basis of governance in the Galaxy of Fantasies DAO.

All channels must follow a specific process to be approved by the DAO, but at a general level each AIP will contain a brief rationale and specification for a feature or change, must reflect community input through active discussions and must pass various levels of review by the community, the Galaxy Of Fantasies Council, the full DAO and the Creator Factory Foundation. If the DAO votes to approve the AIP, the proposal will be implemented by the DAO, the Foundation or others specified in the AIPE.

The AIP as a whole will go through 8 steps (or more as some steps may be iterative based on feedback):

1. IDEA

Any member of the Galaxy of Fantasies community - even non-voting members - can propose an idea for a AIP and lead the discussion with input from the community. The AIP may relate to any potential changes within the jurisdiction of the Galaxy of Fantasies DAO, such as the decision to allocate some of the DAO coffers to an ecosystem development grant.

2. DEVELOPMENT

The author drafts the proposal according to a format which has been previously approved by the FAO. Drafts should contain brief technical specifications and justification for ecosystem changes. The AIP author is responsible for building consensus in the community, documenting dissenting views and accompanying the AIP throughout the process. Items can be a signal note for approval of off-line instructions written in the CHANNEL text, or they can include instructions within the network to be implemented after approval by the electorate.

3. REVIEW

The Galaxy of Fantasies Council leads the review process. As described above, the Council is an elected body of community representatives tasked with ensuring compliance with the Constitution, which is the governing document that establishes the first principles important to the Galaxy of Fantasies Community. If necessary, the Council may provide formal feedback on the draft proposal to ensure that the proponent and the community have considered the broader implications of the project (including legal considerations, tax considerations, potential conflicts of interest, and other issues). The Board may reject a project if it determines that the project or the proponent is not capable of proceeding to the next steps

4. REVISED

The author revises the draft proposal on the basis of feedback from the Board and the community.Review and revision is an iterative process. Some drafts may not be able to proceed to the next stage of initial approval.

5. PRELIMINARY APPROVAL

The Board formally determines that the proposal is ready to be presented to the voters.The proposal is designated as a live AIP and given an identification number.

6. PROMOTION

AIPs are promoted to the chain vote by activation with the required amount of token. AIPs are subject to an activation delay of 48 hours, after which those with a non-zero amount of token can vote for them.

7. VOTE

The full DAO votes on the AIP. A AIP is only approved if both the minimum quorum and the token thresholds (assigned by the DAO) are met. The vote lasts for a fortnight.

8. EXECUTION

Forty-eight hours after a successful vote, the Galaxy of Fantasies Foundation, an independent body charged with following the will of the DAO, executes the approved AIP and, if necessary, implements the AIP directly as a legal entity. The Foundation has no unilateral powers over the DAO, the chain of command mechanism or the treasury. However, if the AIP is not capable of safe or proper implementation, the foundation may exercise discretion not to implement the AIP - for example, if the AIP poses a significant risk to the ecosystem, is missing or contains inaccurate information (e.g. critical expenditure information), conflicts with another AIP, is unconstitutional, would require illegal action by the foundation directors, is reasonably suspected of containing fraudulent or misleading information or for other reasons. If the Foundation exercises such discretion, the Foundation must provide a clear explanation of its reasoning, after which the AIP may, if possible, go through the resubmission process.

Specific rules governing the proposal, drafting and passage process will be determined through discussions with the community and will be approved by DAO Galaxy of Fantasies. Among other things, the rules will deal with situations where conflicting items are proposed, what happens when an item cannot be implemented, voting thresholds required for a successful vote, and other potential problems. In addition, the DAO has emergency override powers at launch, which will only be used in emergencies to protect the DAO and the community (such as after an exploit or vulnerability is discovered). Once DAO has reached a sufficient level of maturity, resilience, and decentralization, the emergency override authority will be fully transferred to DAO.