RFIP-01: Temporary RentFun DAO Governance Charter

Abstract: This proposal outlines the temporary governance framework for RentFun, a decentralized autonomous organization (DAO) focused on NFT rentals. The charter aims to establish a transparent and inclusive decision-making process that empowers the RentFun community to actively participate in shaping the future of the platform.

Motivation: RentFun recognizes the importance of community governance in fostering trust, fairness, and innovation. By implementing a DAO structure, RentFun aims to distribute decision-making power, reduce centralization, and ensure that the platform evolves according to the needs and desires of its users. The motivation behind this charter is to establish a solid foundation for effective and efficient governance, encouraging collaboration and collective decision-making.

Specification: Guiding Principles: RentFun’s governance will be guided by the following principles:

Transparency: All governance activities, proposals, and decision-making processes will be conducted openly and recorded on a public blockchain for full transparency.

Inclusivity: RentFun aims to provide equal opportunity for all participants to contribute to the decision-making process, regardless of their holdings or stake in the platform.

Decentralization: RentFun will strive to minimize centralized control and empower community members to actively participate in shaping the platform’s future.

Security: The governance framework will prioritize the security and integrity of the platform, ensuring that proposals and actions are thoroughly vetted to prevent malicious activities.

Governance: The temporary RentFun DAO governance structure will consist of the following components:

i. Voting Mechanism: RentFun DAO will utilize a token-based voting mechanism to determine the outcome of proposals. Each token holder will have voting power proportionate to their holdings. Voting will occur on-chain and will require a specific threshold of votes for a proposal to be accepted.

The DAO acknowledges that the RentFun token (RENT) is not yet released. As a temporary measure, the DAO will utilize the WonderBird Non-Fungible Tokens (WONDERBIRD) as a governance token for voting purposes. WONDERBIRD holders will have voting power proportional to their WONDERBIRD holdings.

It is important to note that this charter is subject to amendment once the RENT tokens are released. Upon the launch of RENT, the governance framework will be updated to reflect the transition from WONDERBIRD to RENT as the official governance token for RentFun DAO. The community will be informed of the changes, and the amended charter will be proposed and voted upon by the RentFun community to ensure alignment with the platform’s long-term goals.

RentFun recognizes the temporary nature of this arrangement and remains committed to a smooth transition to the RENT token as the definitive governance token once it is available.

ii. Proposal Process: Any community member can create a proposal by submitting it to the RentFun official forum. Proposals must include a clear explanation of the issue being addressed, the proposed solution, and the expected impact. The RentFun community will have a designated period to discuss, debate, and vote on the proposal.

To ensure a structured and inclusive proposal process, RentFun DAO will follow the steps outlined below:

1. Proposals must be posted on the RentFun forum using the following format: A. Title must be RFIP-##: XXXXX B. It must include the following sections: i. Abstract ii. Motivation iii. Specification iv. Rationale

2. Once a proposal is posted on the forum, it will be open for community discussion and feedback for a period of 3 to 7 days. During this time, community members can actively participate in the discussion, propose amendments, and provide valuable insights to improve the proposal.

3. After the week-long discussion period, the proposer, in collaboration with the community, will consolidate the feedback and make necessary amendments to the proposal. The final version of the proposal will be created.

4. The final proposal will be submitted on the RentFun platform’s governance interface (e.g., Snapshot) for voting. The voting period will be set to three days to allow sufficient time for token holders to cast their votes.

5. If the proposal receives the required number of votes for acceptance, as defined by the governance rules, the Core Development Team will follow the voting results and implement the proposal accordingly.

RentFun recognizes the importance of an open and collaborative proposal process. By allowing community members to contribute to the initial discussion and propose amendments, RentFun ensures that the final proposal reflects the collective wisdom and preferences of the community. This process aims to foster a sense of ownership and inclusivity among participants, ultimately driving the platform’s growth and success.

iii. Core Development Team: RentFun will establish a core development team responsible for the implementation and maintenance of the platform. This team will work closely with the community, incorporating feedback and suggestions, and will propose changes and improvements for community consideration.

iv. Treasury Management: RentFun will establish a treasury to manage funds for the development and growth of the platform. The treasury will be governed by the DAO, and proposals relating to the allocation of funds from the treasury will be subject to community voting.

The treasury address is 0x4d3a8F683F2D27Cc38E638BF5398d4a9Bd548B85.

Rationale: RentFun believes that a decentralized governance framework is crucial to ensure the long-term success and sustainability of the platform. By involving the community in decision-making processes, RentFun aims to harness the collective intelligence and diverse perspectives of its users. This charter provides a clear framework for governance, fostering transparency, inclusivity, and collaboration, while also safeguarding the security and integrity of the platform.

By adopting this proposal, RentFun will establish a solid foundation for a thriving and community-driven platform that revolutionizes the NFT rental industry.