The DAO is made up of three main parts:
- Employee-Led DAO - Heart of the DAO made up of full-time ConsenSys employees but we’re looking to decentralize over time and add external contributors as well.
- Leadership Committee (mini-DAO) - Head of the DAO made up of 7 individuals responsible for finding high-potential projects, creating governance proposals, updating external content, gathering feedback on the DAO, driving improvements to the DAO, and queuing multisig transactions. In the event a member of the Committee leaves ConsenSys, the remaining members of the Committee may fill that seat by majority vote of remaining members on a new member. We are exploring opportunities for the Full DAO to have more input on who sits on this Committee in the future.
- Secure MultiSig - a 2 out of 3 Gnosis Safe controlled by ConsenSys that will manage the token contract and treasury. The Gnosis Safe signers will be responsible for signing transactions for the disbursal of funds, as well as minting/burning tokens as employees join/leave the company.
The DAO will fund two types of grants:
- Leadership Committee Grants - These grants are allocated exclusively to the Leadership Committee to vote on. Any Leadership Committee member can make a proposal, and proposals with at least 5 ‘yes’ votes at closing will pass. Leadership Committee grants are intended to provide a quick, easy mechanism for those most closely tied to the grants operations to ensure that high-quality projects that may be overlooked by the full DAO can be funded. Votes will be open for five days and the individual proposing the vote will be responsible for making the case and otherwise taking any actions they need to win the vote’s approval.
- Full DAO Grants - These grants are allocated for the Full DAO to vote on. Any Leadership Committee member can make a proposal to the Full DAO, and proposals with more ‘yes’ than ‘no’ votes at closing will pass. Votes will be open for ten days and the individual proposing the vote will be responsible for making the case and otherwise taking any actions they need to win the vote’s approval.
The DAO will be governed by a non-transferable, fungible token deployed on Mainnet that is mintable and burnable by the multisig. The token is explicitly designed to never be exchanged for value.
All ConsenSys employees will receive the same number of tokens, although we may explore opportunities in the future that reward individuals with more tokens for meaningful participation in the DAO.
Every month, new members will have tokens minted directly to their wallet, and departing employees will have their tokens burned.