Franken DAO vs Other "DAOs"
We have identified issues with other DAOs and believe that they fall into a few main problem categories:
- 1.Tragedy of Commons
- 2.Speculation regarding DAO Token Price
- 3.1 token / 1 vote
- 4.Internal Conflict / Corruption
FrankenDAO is a fully on-chain governance system for FrankenPunks & FrankenMonster holders, which overcomes the "1 token, 1 vote" problem by rewarding long term stakers and active participants in the DAO.
We believe the FrankenDAO is unique in three main ways:
- 1.Voting Power - Staked membership replaces 1 token / 1 vote with a dynamic participation-based system. Smaller holders can have significant impact through active participation and gaining more voting power.
- 2.Small Grants System - Small amounts of DAO resources are pledged to a grant system. This ensures that smaller proposals will be executed quickly and also provides a provable "track record" for participants who want to pass larger proposals or take a more active role in the DAO.
- 3.Dao Council - To ensure that passed proposals are executed and project managers are assigned. The council has 9 members and will have emergency veto power for any cases of malicious circumstances.
Note: The DAO Council does not have authority to act independently of the DAO. It does have the ability to emergency veto any proposals that are deemed harmful to the broader Franken DAO community. It also allows for upgradeability in Franken DAO smart contracts.