How are decisions made in the Franken DAO? Learn more about that here.
The governance process in place for the Franken DAO was created to ensure that all members, both small holders and whales have the chance to participate in as equal a manner as possible. The following section will cover everything you need to know to fully vote and participate in the Franken DAO.
To participate in any level of the Franken DAO, you must own a Genesis FrankenPunk or Franken Monster. They can be purchased off of our official Opensea collection page. Once you have done that, you will need to stake your FrankenPunk to our DAO staking contract. This contract will give you back a "stakedFrankenPunk NFT" (pretty neat, eh?)
To curate and protect our DAO membership, we will be instituting a "staking window". This means that holders will only be allowed to stake their FrankenPunks on Sunday from 12:00am CST - 11:59pm CST.
Any holder may join the DAO, the window will be open every week. Once you stake yours, you do not need to do it again.
The Franken DAO will have its own Discord discussion forum page. This will be used as the DAO's initial proposal forum. This is where holders will post their potential proposals for the community to comment on and cast their initial feelings.
The quorum for this step is receiving more than 20 "upvotes". Proposals must be up for 3 days before an initial "heat-check" Snapshot vote is created. During this step, it does not matter how many FrankenPunks you own, each verified holder Discord profile qualifies for only 1 upvote.
If a Snapshot vote is created before the proposal has been submitted to the Discord forum, the Snapshot vote will be taken down by the DAO moderators.
Once a proposal has received 20 upvotes on its Discord forum, it can then move to a "heat-check" snapshot vote.
This vote will be on Snapshot for 2 days and the quorum is a 10% DAO participation rate with a 66% approval rate.
If this is hit, the proposal will move to the "Final Governance Vote".
Once a proposal has made it through the "heat check" vote, it moves to the final 'on-chain' stage.
In this final stage, you must have a minimum of 30 VPs to submit a proposal. This means that if the proposer does not have 30 VPs, they must find a holder who does to submit the proposal on their behalf. This will require talking with larger holders, showcasing one's idea, and earning their support.
Once the proposal is submitted, the proposal will have 7-days to hit the quorum, which is a 30% DAO participation rate and a 66% approval rating.
If the proposal does so, IT HAS PASSED!
It will then move to the "Execution Stage".