Category: Process and Informational
Submitted By: Thare
This document proposes the structure of a decentralized autonomous organization (DAO) governed by $SUPER holders staking within the designated DAO pools.
The SuperVerse DAO community will have the power to submit proposals and vote on the ideas they feel are most beneficial for the project.
The guiding values of SuperVerse DAO are:
- Equality: One staked $SUPER = one vote
- Transparency: We created a process that is clear and visible to our community.
- Collective Responsibility: We act in the best interest of the future of the project.
- Innovation: We strive to inspire the next trend.
The SuperVerse DAO is a community of Web3 enthusiasts who are inspired by a common vision. SuperVerse DAO governance empowers $SUPER token holders by letting them have a say in the future of the project. To make this a successful process, it is critical to have active participation from all of the members of the DAO. We rely on community initiative to thrive in idea submission, general feedback, proposal submission, and voting. Transparency is a guiding value for the SuperVerse DAO and with that in mind, all parts of the governance process will be visible to the DAO members.
The only requirement for membership in the DAO is staking $SUPER token within the designated DAO pools on the SuperVerse website. Staking $SUPER token allows participation in proposal ideation, general community discussion, and voting on proposals. Participating in proposal submission is restricted to SuperVerse DAO members that stake at least 15,000 $SUPER within the designated DAO pools.
- 1.Every year, there is a DAO-wide vote to determine which DAO members will serve on a special council for the SuperVerse DAO (the Special Council). The purpose of the Special Council is to administer DAO proposals and serve the vision of the community.
- 2.A Special Council member may be removed and replaced prior to the term pursuant to a majority vote of token holders.
- 3.The total cost of implementation must be clear in order for a proposal to get voted on.
- 4.DAO members must search past proposals to ensure any idea they intend to write a proposal for has not already been submitted.
- 5.If a suggested proposal is in direct conflict with a proposal that is currently up for a vote, the second proposal should not be voted on until a decision is made on the first proposal to avoid approval of opposing requirements.
- 6.A suggested proposal that is in direct conflict with another approved proposal cannot get voted on for three months after the original proposal has been implemented to avoid wasting community assets.
- 7.Proposals will not be considered or put up for a vote if they involve illegal activity, hate speech, pornographic material, or are at odds with the mission or values of the SuperVerse DAO.
Phase One: SVIP Idea
An idea is submitted by the community as a post in the forum. The person or persons submitting the SVIP idea are the SVIP Authors. More than one DAO member can work on an SVIP idea, but it should only be submitted once. The community then has the opportunity to provide feedback via comments on the forum. The SVIP Authors can propose changes to the original idea, but only through comments on the forum. To keep discussions transparent, the SVIP Authors may not change the original post.
Phase Two: SVIP Draft
When SVIP Authors determine they have enough information to draft a proposal, an admin engaged by SuperVerse will close the topic on the forum and send the proposal template to the SVIP Authors along with the next steps for submission. The SVIP Authors should consider including any community feedback that furthers the idea as part of their draft before continuing. The admin may inform the SVIP Authors of any necessary changes required to comply with the DAO-approved guidelines. At this time, an SVIP Author will be required to authenticate their wallet to prove they have met the staking requirements for submitting a proposal. If the SVIP Authors do not respond to all requests from the admin within 30 days, the SVIP draft will be automatically rejected. If and when the admin confirms the SVIP draft complies with the DAO-approved guidelines, a number will be assigned to the SVIP for identification purposes. From that point on, the SVIP is referred to as “SVIP-#; (Name) - (Category)”. For example, this first SVIP is “SVIP-1: Proposing the DAO - Process and Informational”.
Phase Three: SVIP Analysis Report and Moderation
The SVIP Draft is reviewed by an admin team engaged by SuperVerse. The admin team will analyze the proposal and provide a report detailing costs, steps to implement, legal considerations, third-party review requirements, potential conflicts of interest, and any further complications that have been identified. Knowing that some SVIP Authors may be submitting drafts with little to no resources, this phase is important to ensure that DAO members have enough information about proposals to make informed decisions when voting. During this time, the admin team also decides if the proposal adheres to the DAO-approved guidelines. If approved, it becomes a Pending SVIP and moves to Phase Four. If not approved, it is eligible for resubmission except in extreme circumstances. SVIP's that violate the law, include misleading information, or have reasonable suspicion of fraud will not be eligible for resubmission.
Phase Four: SVIP Designation
Pending SVIPs that have passed SVIP Moderation are designated as “Ready to Vote” or “Needs Administrative Review”.
The “Ready to Vote” designation is given to a pending SVIP whose details meet the proposal criteria and are of no risk to the well-being of the DAO. Any Pending SVIP that is designated as “Ready to Vote” will go to the board for final approval. If final approval is given by the board, skip to Phase Six. In a case where the board does not approve the Pending SVIP, clear rationale will be provided to the SVIP Authors of the proposal and the proposal will be eligible for resubmission.
The “Needs Administrative Review” designation is given to a Pending SVIP whose costs, content, or implications are considered complicated or a potential risk to the well-being of the DAO. Any Pending SVIP that is designated as “Needs Administrative Review” must go through Phase Five.
Phase Five: SVIP Admin Review (If Applicable)
For Pending SVIPs that have been designated as “Needs Administrative Review,” the Board will determine whether clarification or action is required before moving a Pending SVIP to Phase Six. If clarification or action is not needed, the Pending SVIP is designated as “Approved for Voting” and proceeds to Phase Six. If the Board decides to return a Pending SVIP for further clarification or action, they must provide a clear explanation of why and designate it as either “Return for Clarification” or “Return for Reconstruction.”
Reasons to tag as “Return for Clarification” may include but are not limited to:
- The cost to implement is unclear or not able to be calculated
- The proposal would use more than 5% of the DAO treasury
- The proposal conflicts with another proposal
Reasons to tag as “Return for Reconstruction” may include but are not limited to:
- The proposal conflicts with the mission and values of the DAO
- The proposal is at odds with the well-being of the DAO
- Violations of law, or against the advice of counsel for Super Foundation
- Reasonable suspicion of fraud or other misleading information
Phase Six: SVIP Vote
Drafts that have passed their respective approval processes will go live for voting on Snapshot. Once live on Snapshot, SVIPs are open to voting for six days. SuperVerse admins are the only ones that can post SVIPs to the voting tool, because they must confirm that each one has gone through the correct approval process.
Phase Seven: SVIP Determination
If a live SVIP vote has not received the minimum engagement of 5% of the circulating supply of $SUPER or at least 60% of the total votes “in favor” of the proposal, it will be designated as “Stalled” and be eligible for Resubmission. In all other cases, SVIPs are moved to one of two Final SVIP categories. Rejected Final SVIPs can be resubmitted via the appropriate Resubmission Template if the SVIP Author contacts an admin. Accepted Final SVIPs move into SVIP Implementation.
Phase Eight: SVIP Implementation
For Accepted Final SVIPs, implementation will begin based on the steps outlined in the SVIP template. The admin engaged by the Super Foundation is responsible for ensuring this happens, but is not responsible for doing it themselves.
If a suggested proposal directly conflicts with a proposal that is currently up for a vote, the second proposal should not go for a vote until a decision is made on the first proposal to avoid approval of opposing requirements.
A suggested proposal that directly conflicts with another approved proposal cannot go to vote for three months after the original proposal has been implemented to avoid wasting community assets.
The SuperVerse website is home to all things for the SuperVerse DAO. The website is the access point to all relevant information such as the SuperVerse DAO governance process and all the systems or tools that are part of the SuperVerse DAO ecosystem.
Communication Channel: The forum platform (Phase 1)
- SVIP Idea posts must be approved by an admin to ensure it meets all predetermined guidelines and template requirements.
- All posts and comments will be regularly monitored by both an admin engaged by the SuperVerse DAO and by the DAO community members themselves.
- The SVIP Author of an SVIP idea via a post in the forum cannot edit the original post. If the SVIP Author wants to propose changes to the original SVIP Idea, the SVIP Author must do this via the comments.
- Once an SVIP Author determines they have enough information for a proposal, SVIP Ideas threads are closed to community feedback and will be locked by an admin.
Process for SVIP Draft Submission via SVIP Template: (Phase 2)
- Once an SVIP Idea is locked in the forum, after the community feedback period, an admin will contact the SVIP Author to provide the appropriate SVIP Template.
- The SVIP Author should then submit an official SVIP Draft to the admin using the SVIP Template.
- The admin may then continue communication with the SVIP Author to inform them of any incorrect or missing information that needs to be changed—or clarifications that need to be made— for the SVIP Draft to move to the next step.
- If the SVIP Author does not respond to an admin’s request to change, update, or make clarifications on the SVIP Draft within 30 days, the SVIP Draft will be automatically rejected.
Platform where live SVIPs are Hosted: Snapshot (Phase 6)
- SuperVerse DAO members must go through a wallet authentication process to vote on Snapshot.
- SuperVerse admins are the only ones allowed to launch SVIPs on Snapshot, as they must ensure each SVIP has gone through the correct approval process.
- See SVIP-2 for further details on the proposed SVIP Vote mechanics.
- Complete setup of forum and settings
- Assign administrators of the forum
- Assign reviewers to prepare reports for implications of proposals
- Assign admins to review proposals
- Assign special councilSet up Snapshot space
- Whitelist admin wallets to submit proposals
- Create custom token-gating solution for the forum
- Add Wallet Connect support to the token-gating solution for the forum
All steps have been prepared and are ready to be implemented.
SuperVerse DAO will provide a kitty to bankroll the initial costs of the DAO to a value of $250,000.00. This will be used to cover domain purchases and related costs, legal fees, DAO administration setup, forum platform maintenance, and miscellaneous out-of-pocket costs. This will also be used to hire resources (admins) to operate the DAO for the first 12 months.