| description | hidden | noIndex | noRobotsIndex |
|---|---|---|---|
Draft Bylaws for the future Vana DAO. Work in progress - all content below could change. |
true |
true |
true |
The Vana DAO is established to govern the decentralized ecosystem of the Vana platform, a layer 1 blockchain designed to enable user-owned data and the development of collective AI models. The Vana DAO will ensure transparent, decentralized governance of key areas such as Data Liquidity Pool (DLP) performance, validator selection, reward distribution, and protocol upgrades, empowering users to collectively shape the evolution of the platform.
All holders of the $VANA token are eligible to participate in the governance of the Vana DAO. Voting power is proportional to the number of tokens staked. Members have the right to submit, discuss, and vote on proposals, as outlined in these bylaws.
The proposal submission process follows these steps:
- Step 1: Community Forum Discussion: Proposals are first posted to the community forum for open discussion. This discussion period will last for a minimum of 7 days. During this period, members can provide feedback, raise concerns, and collaborate to refine the proposal.
- Step 2: Temperature Check: The purpose of the Temperature Check is to determine if there is sufficient will to make changes to the status quo. Only members of the Vana DAO with a minimum of 10k $VANA staked (self or delegated) may submit a temperature check.
- Step 3: Delegate Approval: 2 of the top 15 delegates need to give explicit approval for a temperature check to be moved to voting.
- Step 4: Formal Vote on Governance Tool Provider: Once the discussion phase is complete and the proposal is ready for a formal vote, it is submitted to our governance tool provider, the Vana DAO's voting platform. All votes operate on a one-token-one-vote basis, with voting power proportional to the staked tokens held by each member.
- Proposals will remain open for voting on our governance tool provider for a designated period, typically 7 days unless specified otherwise by the proposal.
- If the proposal receives majority approval based on the staked voting power, the contracts are automatically executed and implemented.
- In cases where the proposal involves a process rather than contract deployment, the Vana Foundation team will follow the governance decision as directed by the DAO.
- A security council will be elected as the last line of defense to veto any proposals that may be deemed nefarious, dangerous or threatening to the health of the ecosystem.
- A quorum, defined as a minimum percentage of the total staked voting power, must be met for the vote to be valid. The quorum threshold will initially be set at 10% of staked tokens.
- If the quorum threshold is not met on a governance vote voting to adjust the threshold, the quorum can decrease by 20% of the previous threshold after a 7 day waiting period. This ensures the threshold is adjusted in the case of low voting participation.
- A simple majority of votes cast will determine the outcome, unless a specific proposal requires a higher approval threshold (e.g., for major protocol upgrades).
- To use the $VANA token to submit and vote on proposals, $VANA tokens must be delegated to an Ethereum address.
- Tokens can be self-delegated or delegated to another address. Delegation can be changed at any time.
In an effort to decentralize the DAO over time, while protecting the network, the DAO will be given certain decision making powers that will gradually increase over time.
The Vana DAO will have the power to adjust the DLP Rewards framework via governance. They can propose new performance metrics, in alignment with ecosystem goals, that will determine the DLP Rewards.
The DAO may propose and vote on updates to the performance metrics.
These updates will ensure that the DLP rewards system remains flexible and responsive to the needs of the ecosystem as it evolves.
New Performance Metrics will need to be tested on testnet to ensure that it can be tracked and validated, prior to mainnet deployment.
Each new Performance Metric needs to be trackable on chain.
The Foundation will contract labs co in order to implement this new performance metric. Contract labs with Foundation will decide on exact on the timeline and pricing.
Each new performance metric introduced to DLP Rewards will begin at a weight of 10% for 2 epochs, we call this its Trial Period. During this trial period, if ever there are issues that arise, the Performance Metric in question can be removed or revised by the labs co without the need for an additional vote. Once the trial is over, if there are no issues, removing a performance metric or changing its weight will require an additional proposal and vote.
The Vana DAO will uphold a high standard of transparency, ensuring that all governance activities, voting results, and implemented changes are clearly communicated to the community.
- All proposals and discussions will be documented in the community forum.
- Final decisions, along with implementation updates, will be shared on official Vana channels, with regular updates on any ongoing processes or developments.