PDP-15: PsyDAO & PSYC Governance Framework V1.3

Summary

This proposal modifies the existing governance framework to (1) implement a flexible whitelist mechanism for PSYC membership distribution and (2) grant PSYC holders the right to delay new batch minting if conditions are unsuitable.

Amendments

1. Whitelist Mechanism for PSYC Distribution

• Criteria for Whitelisting:

  • PSYC holders in each cohort shall define a transparent criteria for whitelist eligibility. Criteria may include:
    • Proven contributions to psychedelic science, art or governance.
    • Alignment with PsyDAO’s mission.
    • Technical expertise or community-building experience.
  • Criteria must be ratified by a simple majority vote in the PSYC channel before implementation.

• Flexible Distribution Ratios:

  • Prior to minting a new Fibonacci batch, all existing PSYC holders will vote to determine the ratio of PSYC tokens allocated to whitelisted applicants vs. open market sales (e.g., 80% whitelist, 20% open sale).
  • Distribution ratios will be fully determined by each cohort without mandatory minimums, allowing for maximum flexibility. One cohort may choose a fully whitelisted distribution, while another may opt for an entirely open sale, depending on strategic needs and values.

• Whitelist Committee:

  • A rotating committee of 3 PSYC holders (WG leads initially) will oversee whitelist applications, verify eligibility against ratified criteria and enforce transparency.
  • Committee members are subject to vote-kick by PSYC holders for misconduct and vacated positions will be filled through election by PSYC holders.

2. Delay Mechanism

• PSYC Distribution Delay Rights:
  • If the proposal limit (3) is reached, PSYC holders may determine that: a) Conditions are unsuitable for minting and distributing the next batch (e.g. insufficient talent for potential holders), and b) The next batch minting should be delayed, granting an additional 3 PSYC proposal slots (extending the limit to 6 total PSYC proposals).
  • This decision must be ratified by a simple majority vote in the PSYC channel before implementation and can be used more than once.

This amendment replaces all prior conflicting terms in the original framework. All non-conflicting provisions remain in effect. If approved, the proposed changes will take effect immediately, including for the current cohort.

With the approval of this proposal, the first delay will be applied for the current PSYC cohort and additional 3 proposal slots will be granted.