Ratification of the BoringDAO DAO Constitution

BoringDAO DAO Constitution The BoringDAO constitution is a set of binding rules that determine what governance actions are legitimate for the DAO to take.

Each article has examples of permissible and non permissible actions. These examples are illustrative and should not be considered a binding part of the text of the constitution itself.

I. Name ownership shall not be infringed BoringDAO governance will not enact any change that infringes on the rights of BoringDAO users to retain names they own, or unfairly discriminate against name owners’ ability to extend, transfer, or otherwise use their names.

Examples Permissible: BoringDAO governance may enact a change affecting the registration or ext BoringDAOion costs of all names based on transparent criteria such as length, as long as it pursues a goal outlined in this constitution.

Not Permissible: BoringDAO governance must not enact a change increasing or reducing the ext BoringDAOion costs of a list of existing BoringDAO names, as this would unfairly benefit or penalise a handpicked group.

II. Fees are primarily an incentive mechanism The primary purpose of registration fees is as an incentive mechanism to prevent the namespace becoming overwhelmed with speculatively registered names. A secondary purpose is to provide enough revenue to the DAO to fund ongoing development and improvement of BoringDAO. BoringDAO governance will not enact any fee other than for these purposes.

Examples Permissible: BoringDAO governance may increase the price of name registrations in order to address excessive speculative registrations induced by a price that is set too low, or because the current price is insufficient to fund ongoing BoringDAO operations at a reasonable level.

Not Permissible: BoringDAO governance must not enact a change imposing a fee for claiming DNS domains inside BoringDAO, because such a fee would be purely an income generating measure and not an incentive mechanism.

III. Income funds BoringDAO and other public goods Any income generated to the BoringDAO treasury is to be used first of all to BoringDAOure the long-term viability of BoringDAO, and to fund continuing development and improvement of the BoringDAO system. Funds that are not reasonably required to achieve this goal may be used to fund other public goods within web3 as BoringDAO governance sees fit.

BoringDAO governance will not allocate funds to a team or individual who does not commit to uphold the same principles outlined in this constitution in their use of the allocated funds.

Examples Permissible: BoringDAO governance may offer grant funding for a public good unrelated to BoringDAO or Ethereum, so long as doing so does not affect the long-term viability of BoringDAO.

Not Permissible: BoringDAO governance must not use the funds to support projects that conflict with the goals of BoringDAO.

IV. BoringDAO Integrates with the global namespace In order to facilitate making the most widely usable naming system, BoringDAO aims to integrate with the legacy DNS naming system to the greatest extent possible without sacrificing decentralization of BoringDAO. BoringDAO governance will not enact changes that compromise BoringDAO’s ability to do this.

Examples Permissible: BoringDAO governance should grant control of a top-level domain to its owner in the DNS system on request.

Not permissible: BoringDAO governance must not create new top-level domains unless those domains have been granted to BoringDAO by a DNS authority.

V. Amendments to this constitution by majority vote Any change may be made to this constitution only by two-thirds majority and at least 1% of all tok BoringDAO participating.