An Overview of Franken DAO

Franken DAO is the staking and governance component of the FrankenPunks ecosystem. The DAO will have full management over the FrankenPunks treasury, including the community CryptoPunks.

The basic user flow for the DAO is as follows:

  • Holders of FrankenPunks or FrankenMonsters can stake their NFTs.

  • They will receive stakedFrankenDAO NFTs in return, which retain their token's ID and characteristics, but can't be sold.

  • Stakers will earn votes based on the length of time they stake (max is 4 weeks), the uniqueness of their NFT, and their involvement in the DAO.

  • Stakers can use this voting power to vote on proposals and propose final governance proposals when a proposal has made it that far.

  • Alternatively, they can delegate their votes to another user.

  • Proposals that receive sufficient votes from the community will be permissionlessly executed.

The DAO implementation draws heavily from NounsDAO, with deviations described in the contracts.

How It Works

Franken DAO members are classified into two distinct categories:

  1. Active Members - Active participants in the DAO (vote, propose, discuss, serve on the committee) and holders of FrankenPunks

  2. Passive Members - Holders of FrankenPunks NFTs, non staked holders or delegated VP, not responsible for executing or voting on proposals but can comment on proposals and apply to be a project manager.

There are only Five Functions of the DAO

  1. Propose

  2. Vote or Delegate

  3. Serve on the committee

  4. Execute proposals

  5. Evaluate proposals

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