[LDP-01] LifeDAO Governance Framework

The below set of proposals provide a governance framework for LifeDAO, and may be amended from time to time by future proposals.

Guiding Principles

1. The LifeDAO council and affiliated contributors must always seek to act in a fiduciary capacity, serving in the best interest of LifeDAO's members (with membership defined as holders of current and future NFT/token assets related to the Life project).
2. As members of a DAO, contributors and community members must work to be aligned towards the same vision and goals and settle differences in opinion constructively and respectfully.
3. The Life project is part of the broader Treasure ecosystem and will generally work toward common objectives as stakeholders in this broader community.

Governance

LifeDAO Council

The LifeDAO Council is a team of five (5) individuals that will be responsible for providing services to the DAO, including, but not limited to, making day-to-day operational decisions. Responsibilities of the council will include:

1. Drafting and designing organizational processes and controls to ensure the smooth operation of the DAO.
2. Portfolio management decisions of the DAO treasury (operating within investment guidelines set by the DAO).
3. Paying DAO expenses, up to the threshold that will require DAO approval.
4. Hiring and terminations of DAO staff and contractors.
5. Any other responsibilities reasonably necessary to conduct the day-to-day DAO operations.

LifeDAO Scope of Governance

In order to achieve our goals as a DAO we will prioritize operational efficiency and continuity as an organization where necessary. Generally speaking, LifeDAO council representation, material business operations (e.g., launching a new business endeavor, winding down an underperforming business), and community proposals will be voted on by LifeDAO members using the snapshot platform. Proposals that seek to add or remove individual LifeDAO council representatives can occur once per quarter during the first week of September, December, March, and June. Any contract/compensation based expenses dependent on funding from the DAO, and which has been rescinded through community vote, will be compensated for up to three additional months. This is to ensure current and future staff or contractors do not assume undue risk as the community evolves over time, improving our operations with viable paths to employment.

This proposal does not include a framework for how the LifeDAO treasury will utilize funds, nor investment guidelines associated with the treasury. Instead, this proposal provides the authority of the LifeDAO Council to execute treasury related decisions and expenses once approved. The allocation and investment guidelines of LifeDAO treasury will be proposed following the approval of this governance framework.

LifeDAO Voting Eligibility

For the purposes of voting eligibility, LifeDAO membership will be determined based on a snapshot of the Arbitrum blockchain at least 12 hours prior to the vote going live on the Snapshot platform. Any wallet holding a Seed of Life NFT and/or Imbued Soul (Evolved Life Form) NFT is eligible to vote, with the exception of NFTs held directly by the LifeDAO. All Seed of Life and/or Imbued Soul (Evolved Life Form) NFTs have equal voting rights (i.e., 1 NFT = 1 vote), and each wallet can vote up to the number of eligible NFTs held.

We believe this form of voting governance will ensure that the most popular and fleshed out proposals among the community are implemented and mitigates the risk that an activist cohort will be able to act in concert in their own best interests and materially and adversely have an impact on DAO governance matters, to the detriment of the community.

Proposal Procedures

1. All new proposals must first go through an initial discussion using the template provided below and in LifeDAO's Commonwealth forum.
2. Any member of LifeDAO is eligible to author a governance proposal and post it for discussion according to these procedures.
3. The process below outlines the path to a formal proposal.
   1. A proposal should be submitted for consideration in the LifeDAO Commonwealth forum, allowing a feedback period of at least 120 hours prior to moving to a community vote.
   2. The proposal must be approved by at least two LifeDAO Council members to move forward for voting (to prevent bad actors who may seek to negatively impact and/or disrupt the community).
   3. There should be sufficient engagement within the community (e.g., iterative enhancements by community members, responses to questions, address concerns).
   4. Once items a to c above are satisfied with reasonable judgment of the LifeDAO Council, the proposal will be put to community vote.
   5. The community vote should be live on the Snapshot platform for at least 120 hours, with a maximum voting period of 168 hours.
   6. A successful vote requires at least 60% of the votes to be in favor of the proposal (i.e. if a proposal contains 2,000 total votes then 1,200 need to be in favor in order to pass). Alternatively, a successful vote can also occur with a minimum of 30% of the total supply of eligible NFTs minus the eligible NFTs held by the DAO treasury (quorum) with more than 50% voting in favor of a proposal.
4. In order to ensure any member of LifeDAO can freely submit proposals that are accretive and in the best interests of the DAO, the LifeDAO Council maintains the authority to veto any proposal that may be harmful to the long term strategy and direction of LifeDAO and the Life community if the following conditions are all met:
   1. a unanimous vote by the LifeDAO Council to veto the proposal;
   2. a written explanation by the LifeDAO Council is provided to the community justifying why the proposal is being vetoed and what changes would be necessary to obtain council support; and
   3. the proposal must be void of any changes (i.e., additions, removals) to LifeDAO Council membership.

Informal Vote

The LifeDAO Council may from time to time propose informal votes for non-material governance matters for community members to vote on in the LifeDAO Discord. For informal Discord votes, each holder of LifeDAO NFTs will get 1 vote (regardless of how many NFTs held). A quorum will be reached with a two thirds majority (i.e., vote passes with a <66% "for" vote). These are intended to provide an efficient mechanism to seek feedback from the community, acknowledging that every decision cannot reasonably be put to vote nor reach consensus with every member of the LifeDAO.

Community Vote Proposal Template

[Proposal Title]

Summary: A short description of the proposal and how, if passed, the proposal will be accretive to the value of the DAO and the community.

Rationale: Explain why this proposal is necessary and the gap it seeks to fill. The author is encouraged to add visual elements such as charts or a slide deck to support their argument.

Proposal: Lay out your proposal - explain how it is going to tackle the issue at hand and present actionable steps to achieve the intended goals.

Polling Period: The polling process begins now and will end at HH:MM UTC on DD/MM/YYYY. (Note a proposal must be live between two and four days)

 
The review and feedback for this proposal can be referenced at this link: Commonwealth LifeDAO Governance Framework