Governance
Last updated
Last updated
A DAO, or Decentralized Autonomous Organization, is an innovative form of organization that is run using blockchain technology and smart contracts, enabling a level of automation in organizational governance. Unlike traditional organizations, DAOs operate with a high degree of decentralization, which means control is distributed among its members rather than centralized in a single authority.
The key to a DAO is the use of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. They automatically enforce and execute the terms of an agreement, allowing for trustless transactions and interactions. This technology provides the architecture for DAOs to run transparently, securely, and with a layer of immutability, thanks to the blockchain.
Members of a DAO can propose, vote on, and implement changes in the organization, with these actions recorded on the blockchain, providing a clear and auditable trail. This ensures that decision-making is influenced by the collective will of its participants, aligning with the ethos of decentralization that underpins blockchain technology.
In the context of decentralized autonomous organizations (DAOs) and blockchain technology, governance refers to the process by which decisions are made and actions are taken within the organization. Governance in a DAO typically involves the use of smart contracts and voting mechanisms, where members can propose and vote on proposals for changes to the organisation's rules or actions.
The governance structure of Lucidao is decentralized, meaning that there is no central authority or leader making decisions on behalf of the organization. The protocol is governed by a community of LCD token-holders and their delegates, who collectively propose and vote on upgrades to the system. This decentralized governance structure allows any holder of LCD tokens to actively participate and influence the direction of the protocol through voting or delegation of voting rights to a third party
Governance Website:
The governance process for Lucidao is designed to be easy for anyone to participate in. Anyone who holds 1% of the LCD token can propose changes to the Lucidao ecosystem, such as adding support for a dApp or modifying a Timelock variable. These proposals are then subject to a 3-day voting period, during which any address with voting power can vote for or against the proposal.
Governance Website:
Pre Lucidao Proposals (PLP) and Final Lucidao Proposals (FLP) are submitted by the community, they represent proposals of changes and improvements to different aspects of the Lucidao protocol. These proposals may highlight topics such as the use of funds, oracles, partnerships, liquidity pools, tokenomics framework, development focus, and more.
Below you find a template for proposals, this template helps the community to structure their idea and present it to the Lucidao community at large:
Summary A simple description of the proposal's end result and desired change. This should be no more than a few brief sentences.
Rationale Explain why this proposal is necessary or useful for the DAO. The author is encouraged to add visual elements such as charts to support his or her arguments.
Proposal Layout your proposal - explain how it will tackle the issue at hand and present the action items.
Polling Period (48 hours)
The polling process begins now and will end at HH:MM CET on DD/MM/YYYY. If quorum and sufficient engagement are reached, a formal proposal vote will be put up at HH:MM UTC on DD/MM/YYYY on the Lucidao Governance page https://governance.lucidao.com/#/proposals
LUCIDAO is a DAO that operates on a community-driven decision-making process. This means that members of the community who hold at least 1% of the total token supply (8.8 million LCD) in their wallet or delegated to them have the ability to propose changes and improvements to the organization's structure and processes.
These proposals are then put to a vote, where all community members with delegated LCD tokens can participate. The outcome of the vote will determine whether the proposal is accepted and implemented, or rejected. This system ensures that the organization is constantly evolving and adapting to the needs and wants of its members.
Governance Proposals Rules and Guidlines:
