BIP #35: Formation of BendDAO Treasury Execution Committee

Summary

Formation of BendDAO's Inaugural Treasury Committee

Background

According to the rules of community governance:

• Phase 1: Idea or Draft
  • Minimum number of supports: 10 - Pass
  • Discord Idea: https://discord.com/channels/897709643948761148/1104384003773038733
• Phase 2: BIP
  • Minimum number of voters: 10 - Pass
  • BIP#35: BIP #35: Formation of BendDAO Treasury Execution Committee - BendDAO
• Phase 3: On-chain voting
  • Voting Quorum: Approximately 100M veBEND (20% of the total supply)
  • Pass Rate: Over 80% Approve.
  • The voting will last for 7 days.

Workflows

The first Treasury Committee is led by the development team and will gradually transfer power to the community until fully decentralized management is achieved.

The first Treasury Committee consists of 5 members, including 3 members from the development team and 2 members selected from the community.

1. Community members apply to Hill | BendDAO.xyz (Please verify the identity group of core contributors) on Discord.

2. The development team nominates 2-4 community candidates.

3. The candidates will be announced in a specific Discord channel and accept voting and questioning.

4. The candidate with the most votes enters the final Snapshot vote. If the votes are equal, all candidates can enter the Snapshot vote.

5. After the establishment of the first Treasury Committee, relevant work guidelines and expenditure plans will be drafted as soon as possible and submitted to the community for review. The committee can only exercise its power after obtaining community authorization.