Snoop DAO Constitution

Preamble This document will serve as the basis for how Snoop DAO will operate.

Article I: Name Snoop DAO referred to within this document as “Snoop DAO” or “the DAO”.

Article II: Purpose Snoop DAO is a community owned protocol that collects meme tokens. Snoop DAO was established by anonymous creators in November of 2021. In an effort made by the community, control of the project was transferred to members of the community in January of 2022. The goal of Snoop DAO is to operate autonomously by protocol with any changes determined by the community and passed by vote to be executed by the Chairman and members of the Snoop DAO multisig wallet.

Article III: Membership Section 1: Community Any person is welcome to join the community. Every person who participates in Snoop DAO is responsible for adhering to the laws applicable to them in their respective country and jurisdiction.

Section 2: Voting The community determines the direction of the DAO by creating proposals. All community proposals are subject to a community vote. For any proposal to pass it will require a minimum threshold of the total voting power held by the community to vote in favor of it.

Voting power (VP) is tallied as follows:

1. Each Staked Snoop ($sSNOOP) held by community members counts as 1 Voting Power.
2. Each SnoopDAO NFT (SNDN) #48 and above held by community members will receive addition voting power determined by the following formula: a/b = VP. Where: a = Cumulative total of winning auction bids for all SNDN NFT’s #48 and above. b = # of SNDN NFTs sold since #48
3. Unstaked SNOOP has no voting power.
4. Owners of SNDN NFTs numbered 0 through 47 receive no additional voting power.
5. Voting power is determined by the holders at the block that the vote begins and will remain unchanged until the duration of the vote has ended. The minimum threshold of voting power required to pass will depend on the proposal’s level of importance.

There are three levels of importance:

1. Critical Level: 51% of all voting power in favor is required to pass. (a) Amendments to the Constitution. (b) Liquidation of DAO assets. (c) Removal of the Chairman.
2. Top Level: 20% Quorum of all voting power required to participate and a simple majority in favor is required to pass. (a) Policy changes for treasury funds. (b) Community proposed changes to the multisig.
3. Standard Level: 10% Quorum of all voting power required to participate and a simple majority in favor is required to pass. (a) All other proposals

Article IV: Offices Section 1: The Chairman

1. The Chairman is a member of the DAO multisig and is appointed to guide the DAO’s operation and execute the changes to the DAO passed by the community.
2. The Chairman appoints community members to the multisig as necessary to facilitate operation of the DAO.
3. The Chairman position will be reviewed annually on January 15th to be reconfirmed as Chairman by a community vote. If the Chairman is not confirmed, the community will appoint a new Chairman by community vote. The community vote for a Chairman cannot be vetoed by the multisig team.

Section 2: Multisig Members

1. Multisig members execute the changes to the DAO passed by the community.
2. Any community proposal that exceeds 60% of all voting power in favor of passing cannot be vetoed and will be honored by the multisig members.
3. Any community proposal that does not exceed 60% of all voting power in favor of passing can be vetoed by the multisig members by simple majority, except for the vote to appoint the Chairman which cannot be vetoed. Any veto must have a statement from the multisig members providing the reasoning behind the decision.

Article V: Amendments Section 1: Testing Period This Constitution will utilize a testing period that will evaluate the participation volume in community votes for the purpose of adjusting the voting thresholds, if necessary. The testing period will conclude after any of the following metrics have been satisfied:

1. One vote at each level (Critical, Top, and Standard) is successfully passed.
2. (a) A minimum of five Top level votes have been passed and (b) the community creates a proposal to establish the updated thresholds for all voting levels and passes that updated Critical level threshold set by the new proposal.

Section 2: Proposing Amendments Amendments to this constitution can be proposed within any community proposal.

Section 3: Ratifying Amendments Amendments are ratified by passing the threshold for a Critical level vote.

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Vote For: I approve the the Snoop DAO Constitution.

Vote Against: I do not approve the Snoop DAO Constitution.

Vote Abstain: You have no opinion on this matter.