NIP-001: Establishment of nftperp's Decentralized Governance and Listing DAO

Abstract

This document, NIP-001, proposes the creation of nftperpDAO that will be governed by NFTP token holders. The NFTP token will be the primary method of ensuring effective governance — enabling token holders to play an active role in the growth and management of the nftperp ecosystem. This proposal also introduces the Listing DAO council, which will be responsible for the listing and delisting of collections on nftperp.

Motivation

The primary objective of Nftperp Improvement Proposal #1 (NIP-001) is to establish a well-defined governance process for the nftperpDAO and Listing DAO. This proposal will empower the community to make decisions that drive nftperp’s growth and development, while also ensuring a fair, transparent, and decentralized process.

This proposal will also elect the Listing DAO council into their position — with an aim of bringing together experienced individuals able to effectively curate the listing and delisting of collections on nftperp.

Rationale

The nftperpDAO will enable impactful, transparent, and fair decentralized governance by the broader nftperp community. By submitting NIPs, the nftperpDAO empowers its members to collaboratively consider and implement a variety of changes, from fundamental protocol adjustments to non-technical decisions that affect both the community and NFTP tokenholders.

Proposed Listing DAO Structure

The Listing DAO is a committee of 9 members who are responsible for the listing and delisting of collections on nftperp. They will assess and perform due diligence on prospective listings and perform a 'reassessment cycle' every 2 months to ensure the quality and relevance of listed collections.

Candidates for the Listing DAO were chosen based on their contributions to nftperp, familiarity with the NFT ecosystem, connections within the NFT/NFTFi space, broad understanding of how nftperp operates, and ability to contribute to collection research studies.

The initial Listing DAO council are as follows:

1. 0xFendiman (0xFendiman#3523) - Involved with the community since the testnet phase, 0xFendiman has developed and maintained the trading bot in the Discord and has helped numerous community members with various issues. As a technical user, 0xFendiman can provide high-level suggestions to the Listing DAO.
2. AC420(AC420#6969) - A longstanding community member who is highly familiar with the broader NFTFi ecosystem. AC420 excels at connecting with other communities and will bring a necessary skillset to the Listing DAO. Milady.
3. Aeto (aeto#9504**) - A core team member of FloorDAO, Aeto has helped create the first ‘Collections Framework’ as well as ‘Research Reports’ for new collections. As a Dune wizard and somewhat profitable milady-perp trader, Aeto's diverse skill set will enrich the Listing DAO's decision-making process.
4. Andropogon (Andropogon#1455) - A seasoned trader on nftperp, Andropogon has presented the Listing DAO with a multitude of innovative ideas. As a member of various NFT communities and an experienced nftperp user, Andropogon's insights will play a crucial role in the Listing DAO's success.
5. Kent (Kent#2895) - Possessing a deep understanding of the NFT market and NFT trading skills, Kent brings valuable insights and data analysis capabilities to the council. Having helped build the Chinese community for nftperp and participated in different NFT-Fi communities, Kent's expertise will help the council facilitate better listing decisions.

Two nftperp advisors will also join the Listing DAO to assist the council in making informed listing decisions:

1. Hype (hype.eth#1111)
2. McKenna (McKenna#7794)

In addition, two core team members will also join the council for the duration of the governance bootstrapping phase:

1. 0xJose (0xJose#9114)
2. Solace (Solace#3577)

Election terms

The Listing DAO council will be elected according to this proposal, for a minimum duration of 6 months beginning from the date this proposal is passed.

The total budget laid out for the Listing DAO council is 600k NFTP for a 6 month duration. Each council member will receive a 12.5K NFTP monthly stipend (excl. team) totaling 525k NFTP over 6 months. The remaining 75k NFTP will be used to run marketing/promotional campaigns during subsequent collection listings.

Implementation

Upon approval of this NIP, the nftperpDAO will be officially established, and the Listing DAO members will assume their roles in curating the collections listed on the platform.

Future changes to the governance framework or Listing DAO council members will require the submission and approval of a new NIP.

Future Proposals and Governance Improvements

As the nftperp ecosystem evolves, there may be a need for additional governance roles and committees to address specific needs and requirements. The introduction of new governance structures, roles, or committees will require the submission and approval of a relevant NIP. This ensures that the nftperpDAO remains adaptable and responsive to the changing needs of the community and the wider NFT ecosystem.

Potential Future Committees and Roles

Some potential future committees and roles that may be considered include:

1. Technical Advisory Committee - A group of technical experts who can provide guidance on the technological direction of nftperp and help assess and implement new features or upgrades.
2. Grants Committee - A dedicated team responsible for allocating grants to incentivize developers to build on nftperp, thereby fostering growth and innovation within the ecosystem.
3. Community Ambassadors - A group responsible for growing the nftperp community, engaging with users, and driving awareness and adoption of the platform.

Voting and Consensus

For the nftperpDAO to function effectively, a clear voting mechanism must be in place. The following outlines the proposed voting and consensus process for NIPs:

1. Initially, the nftperpDAO or Listing DAO council may propose a NIP for consideration by the community.
2. The proposed NIP will be open for discussion and review by the community for a defined period.
3. After the review period, NFTP tokenholders will vote on the NIP using a voting mechanism based on their token holdings.
4. A minimum quorum and majority threshold will be required for the NIP to be considered approved. For example, a quorum of 15% of all $NFTP tokens and a majority of 60% of the participating votes.
5. If the NIP is approved, it will be implemented as per the proposal.

This voting and consensus mechanism ensures that the nftperpDAO remains truly decentralized and that decisions are made by a majority of tokenholders, while also restricting proposal submissions to maintain the quality of proposed changes.

A summary of the process may be found below (fig. 1):

Conclusion

The establishment of nftperpDAO and the Listing DAO aims to ensure the decentralized governance of the nftperp ecosystem. By enabling NFTP tokenholders to actively participate in decision-making processes, nftperp aims to be better equipped to address the needs of the community. The introduction of NIPs and a clear voting mechanism aims to provide a strong foundation for effective and transparent governance, enabling nftperp to grow in a decentralized manner.

NOTE: Until the full launch, vNFTP will be used as a proxy for NFTP in the governance process. vNFTP is a non-transferable voucher token redeemable 1:1 for NFTP once the token launch is fully live. The governance process will remain unchanged during this period, ensuring a seamless transition upon the official release of NFTP.

Contract Address for vNFTP: 0x5b8CBF0aFA5a527Fdef163D87B823e4006Fbd9ad