Overview
The Governance Philosophy of the MVCDAO
The Governance Framework of MVCDAO
The MVCDAO's governance framework is underpinned by three key MVC Improvement Proposals (MIPs): MIP-1, MIP-2, and MIP-15. These MIPs are designed to facilitate collective decision-making, reducing the need for on-chain proposals for every decision and preventing any single party from making unilateral decisions.
MIP-1, known as the MVC Proposal Framework, delineates the procedure for proposing, debating, and implementing modifications to the MVC ecosystem.
MIP-2, the Code of Conduct & Initial Operational Budget, sets forth ethical and financial standards for the MVCDAO.
MIP-15, the DAO Position Formation & Initial Operational Framework, offers a broad guideline for operations within the DAO.
These MIPs ensure that the MVC community operates in a democratic, transparent, and efficient manner, forming the backbone of MVC's governance. The Committee and the DAO community have the power to review and propose amendments to these MIPs, allowing the MVC ecosystem to adapt and evolve in response to changing circumstances. Any changes to established proposals require a 75% on-chain approval, ensuring that any modifications are thoroughly examined and agreed upon by a significant majority of the community.
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MVCDAO governance has several main bodies: [DAO, Admin, Committee & DAO Treasury Holder]
The DAO
A) Represented by holders of the vSpace, and votes to pass proposals.
The Committee [Voting Right Member]
Evaluate Execution Feasibility and Completeness:
The Committee's primary role is to assess the feasibility and completeness of each DAO proposal on behalf of MVCDAO. They are not here to entertain fictional stories or fleeting dreams. MVC is a serious project, not a meme. The Committee sifts through various community plans, submitting only those that are feasible and well-structured proposal for DAO on-chain voting and internal committee voting. The Committee's final comments, feasibility ratings (on a scale of 0-10), and voting decisions on each internal committee proposal and on-chain proposal will be summarized and shared with the community.
Act as Internal Auditors:
The Committee is the financial watchdog of MVCDAO. They are tasked with the regular monitoring of the administrator's budget usage, ensuring that MVC's operations adhere to the budget framework under MIP-2 (or any subsequent revised budget framework). This is conducted every two monthly, but will transition to a monthly basis once a Finance Team Leader or two executive secretary are appointed.
Act as Hearing Auditors at Partnership Meetings:
The Committee ensures transparency in partnerships by regularly monitoring meetings involving the public relation team leader, committee members, administrators, or COO. They're the guardians of MVC's partnerships, making sure everything is fair and square.
Guiding Service Providers / Resource Providers Towards Community Consensus:
4A) The Role of the Committee: Picture the Committee as the friendly neighborhood mediators, bridging the gap between Resource Providers and the vibrant MVCDAO community. Their mission? To foster a harmonious consensus, ensuring everyone is rowing the boat in the same direction.
4B) Proposal Assistance: Resource provider or member stuck on your proposal? No worries! The Committee is here to lend a helping hand. They should guide member through the standardized proposal application form, which includes the MVCDAO general disclaimer to keep any legal hiccups at bay. They're like member's personal GPS, ensuring author's proposal is complete and feasible for execution. But remember, MVCDAO is all about non-profit vibes, so any proposals aimed at commercial income generation for MVCDAO should receive a polite "no, thank you" from the Committee.
4C) Regular Participation in DAO Governance:
Committee members are expected to exercise their internal voting rights on behalf of MVCDAO with the highest level of objectivity and responsibility. For more information, check out the Committee Voting Guideline section.
Assist in Operational Budget Revisions:
The Committee assists in submitting MIP proposals to adjust the budget framework under MIP-2, enabling administrators or executive team leaders or COO to operate within the updated budget framework. They're the financial strategists of MVCDAO, helping to steer the ship in the right direction.
Committee Voting Guideline:
Objective: The primary role of a committee member is to exercise their voting rights with utmost objectivity, diligence, and integrity. They are responsible for evaluating each proposal based on its completeness, feasibility, and cost-effectiveness, ensuring the best interests of the MVCDAO are upheld.
Evaluation guideline:
Committee members should thoroughly review each proposal. If a proposal lacks sufficient information, appears unconvincing, or the associated costs seem unreasonable, lack of execution feasibility, it is the committee member's duty to vote 'Against the Proposal'. Abstaining from voting should not be an option in such scenarios.
Ensuring Overall Completeness of a Proposal:
Committee members have the right, and indeed the responsibility, to request additional information from the proposal author. If a proposal is lacking in detail, not well-structured, or it's feasibility for execution is questionable, committee members should not hesitate to ask the author to re-submit or revise the proposal with the necessary additional information before proposal submission.
Upholding Integrity:
Integrity is a cornerstone of MVCDAO operations. Committee members should not feel pressured to change their vote from 'No' to 'Yes' due to potential backlash. It is essential to maintain the integrity of the MVCDAO.
This guideline is in place to ensure that all committee members uphold the integrity and transparency of each voting decision. Always act in the best interest of MVCDAO.
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According to MIP-2: Section 3 - Budget & General guideline:
Decentralization, efficiency, transparency, and effectiveness are a powerful combination, but it needs to be balanced in management. If all expenses and detail require unanimous agreement, the decision-making efficiency for MVCDAO will be greatly reduced. Therefore, we need to assign various team leader [admin] to perform due diligence and act in the best interest of MVCDAO, while identify various usage standards in advance through budget to avoid the abuse of treasury by various team leaders. By doing this, MVCDAO can balance appropriate transparency and effectiveness in decision-making while minimizing the impact on daily operations. Through regular maintenance, updates, and repairs, decentralized governance mechanisms will continue to evolve to meet changing needs and new challenges.
C) Admin - [No Voting Right Member - Follow DAO Proposal Un-Conditionally]
Constitutes the following four positions:
· COO [Neutral Facilitator]
· Finance Team Leader [Compliance & Financial Planning & Data Monitoring]
· Node Team Leader [Node Operation]
· Executive Secretory: [The secret ingredient in our recipe for success, ensuring all administrative tasks are handled with the precision of a Swiss watch and the efficiency of a Japanese bullet train. ]
Chief Operation Officer:
Unlike typical corporate executives, the COO in MVCDAO is *A Neutral Facilitator* and *A Temporary Team Leader*, ensuring the smooth operation of MVCDAO.
In our Decentralized Autonomous Organization, the COO doesn't hold unilateral decision-making power. Instead, they're here to ensure that decisions are made collectively, and all stakeholders follow the DAO's general principles, code of conduct, and proposal resolutions unconditionally. They're the glue that holds us together, fostering a culture of mutual respect and cooperation.
The main duties of the COO:
Authorized Signatory:
The COO is the initial authorized signer on behalf of MVCDAO according to MIP-2. This means they have the authority to sign off on important decisions and documents on behalf of MVCDAO.
Operational Fallback:
In the absence of other Team Leaders, the COO steps in to avoid operational issues caused by vacant positions. They act as a temporary team leader, ensuring the smooth running of MVCDAO as a whole.
Neutral Facilitator:
In a DAO structure, the COO isn't a traditional boss. They're more like a facilitator or a guide, helping to uphold the principles of decentralization and assisting all stakeholders to follow DAO rules and proposal resolutions unconditionally. They're the impartial referee in a thrilling game of football. They don't vote in both committee group or MVClabs to remain neutrality, and they don't hold private key segment of treasury.
Executive Team Leader
Executive Team Leader [High-level evidence of relevant experience and background is mandatory or a minimum holding of 10,000 vSpace is required.]
As MVCDAO progresses towards a more systematic, standardized, and decentralized structure, the necessity of this position will be evaluated based on real-time needs.
Operational Oversight: Manage the day-to-day operations within the budgetary constraints outlined in MIP-2 or subsequent budget proposals.
Process Coordination: Ensure the smooth operation of various processes within MVCDAO.
Recruitment and Staffing: Oversee the general recruitment and replacement of Moderators & Executive Secretary/Assistant.
Finance Team Leader:
As a Finance Team Leader, you will be the financial backbone of MVCDAO, ensuring the organization's financial health and compliance. Your role will be pivotal in steering MVCDAO towards its strategic objectives while maintaining financial transparency and integrity.
Financial Management: You will operate within the budget framework outlined in MIP-2 or any subsequent budget proposal, ensuring optimal allocation and utilization of resources.
Professional Qualification: A CPA qualification is a must-have for this role. This will enhance the data transparency and compliance of MVCDAO, ensuring we adhere to the highest standards of financial integrity.
Data Monitoring: You will facilitate all data monitoring work in MVC, providing necessary financial information to the committee for audit purposes.
Financial Planning: You will be responsible for assisting all groups in designing financial plans, ensuring that each team has the resources they need to achieve their goals.
Financial Reporting: You will organize on-chain data to form public financial statements, providing a clear and accurate picture of MVCDAO's financial status to stakeholders.
Resource Management: As the Finance Team Leader, you will reserve 500 Spaces or a maximum value of USDT 7,000 worth of Space for daily sundry operation purposes, as per MIP-2. This will ensure smooth day-to-day operations and financial stability.
Node Team Leader:
1) Node maintenance and update when necessary.
Treasury Key Segment Holders [5 to 9 members]
1) Responsible for keeping the private key fragments of the treasury and unconditionally implementing the resolutions of The DAO.
2) No decision-making powers. Once a smart contract for treasury management is implemented, this group will be isolated.
Moderators ensure that general inquiries are answered and provide proper guidance to members for activities or any updates.
You can read more about these bodies and their powers in the MVCDAO Constitution [MIP1] & MIP-2
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Invariants:
System Upgrades:
Only proposals that have been approved through the constitutional governor (the DAO) or Node administrator have the authority to upgrade the system.
Material Expenditure Proposals:
Proposals involving an expenditure of USDT 120,001 or above are considered material and necessitate a 75% approval rate.
Proposal Execution:
Once a proposal has been approved, all stakeholder has to provide assistance for execution, unless a DAO proposal is raised within 8 hours to reject this proposal, which would require an [75% Consensus] to pass.
Proposal Blocking:
Proposals cannot be blocked, except by administrators for security reasons or if the author fails to include the MVCDAO no investment vehicle disclaimer and not financial advice disclaimer.
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Code of Conduct:
The Code of Conduct outlined in [MIP-2] applies to all MVC delegates and any individual representing MVC in public, either online or offline.
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Proposal Types:
Non-Constitutional Proposals:
These are proposals that do not significantly alter the behavior of the chain. They should ideally introduce changes that are limited and well-understood. At the inception of the MVCDAO, the only type of non-constitutional proposal pertained to the allocation of DAO treasury funds. A consensus of 60% is required for these proposals to pass.
Constitutional Proposals:
These are proposals that encompass all modifications to the constitution, including changes to any rules, principles, code of conduct, and subsequent DAO proposals. A higher consensus of 75% is required for these proposals to pass, reflecting their significant impact on the MVC ecosystem.
Note: MIP-5 is a governance practice that adjust the existing MIP proposals. As per MIP-1, any adjustment or exception to an existing MIP proposal necessitates a 75% consensus from the resolution of the proposal. This ensures that any changes to established proposals are thoroughly vetted and agreed upon by a significant majority of the community.
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Disclaimer & Remarks:
Space is not an investment vehicle:
MVCDAO emphasizes that Space, the native gas of the MVC network, is not intended for investment or speculative purposes. Its value and price are subject to the utility demand within the MVC network, which may lead to price fluctuations. We strongly discourage participants from purchasing Space with the intention of investment or speculation. MVCDAO does not make any commitments or guarantees regarding the price or value of Space. When holding Space, it should be used exclusively for participation in MVCDAO governance or for utility purposes within the MVC network.
Purpose of the proposal:
This proposal is not intended for investment analysis or induction. Instead, it aims to enhance the visibility of the MVC network. It's all about putting our network in the spotlight, not about financial advice.
Conflict of interest declaration:
The author of this proposal has not received any commission.
The MVC Oath Document Signing
On the 25th of November, 2023, we will be hosting the official signing of the MVC Oath Document. 📜✍️This isn't just any document. It's a symbol of elected member's unwavering commitment to uphold the values of MVC, act diligently in its best interest, and adhere unconditionally to the MVCDAO code of conduct and DAO proposal resolutions. 🏛️💼 To make sure you're part of this historic event, we kindly ask elected member to submit your personal email to Partnerships@microvisionchain.com by November 20th. 📧 This will allow us to share all the juicy details about the event and the signing process. 📅🔍By participating, you're not just attending an event. You're acknowledging your full understanding and acceptance of the MIP-1, MIP-2, and MIP-15 documents and becoming a part of MVC's vibrant history.
Commencement Delay for Administrators:
We understand that time is of the essence. However, it's important to note that, unless stated as urgent or otherwise, proposals may experience a slight pause in their commencement. This could usually range from 2 to 10 days, due to necessary preparations, other tasks in the pipeline, or unforeseen circumstances.
This timeline isn't set in stone but is thoughtfully determined by Executive Team Leader or COO. They're always working hard behind the scenes to ensure everything runs like a well-oiled machine.
We deeply appreciate all member's understanding and patience during these times.
Transparency:
MVCDAO is committed to providing regular updates on voting decisions and the final summary comment from each committee for each proposal to the public. We believe in keeping things clear and open!
Termination of position:
7A) Wallet Security:
Member wallet safety is top priority! All MVCDAO position holders are strongly advised against sharing direct MVC wallet links. If a position holder is found sharing wallet links via DM more than 5 times post-election, they may face termination of their position. We encourage you to share only official website & Twitter links, or post official wallet links in public channels or group channels only for [Partnership or CEX/DEX or integration arrangement] to avoid misunderstandings.
7B) Avoid misleading and deceptive conduct:
At MVCDAO, we're all about fair and square! Any DAO position holder found engaging in misleading and deceptive conduct, such as DM member for unauthorized sale of DAO treasury, may face immediate termination after election. [Remember, all space distribution is mission based or working based]. The termination can be actioned by the executive team leader, COO, or a unanimous vote from 4 committee members. We're a global team that values honesty above all, and we have zero tolerance for misconduct!
7C) Active participation is required:
Each committee member is required to maintain a minimum voting and commenting attendance rate of 70%. If a committee member fails to meet these requirements, a minimum of 5 internal votes in favor are required for the member to retain their position. This ensures that our committee is filled with the most committed and active members.
7D) Act in the best interest of MVCDAO:
MVCDAO positions are not permanent. Elections take place every 6 months. So, keep your game face on! Always strive to do your best on behalf of MVCDAO to ensure you are re-elected on a recurrent basis. After all, we're in this for the long haul!
7E) Minimum vSpace holding:
Committee membership in the MVC ecosystem is a position of responsibility and trust. As such, it necessitates certain prerequisites. One such requirement is the possession of a minimum of 1,000 vSpace on a monthly basis. Upon request, proof of this holding must be furnished within a 5-day period. For the position of Chief Operating Officer (COO), the requirement is more stringent, necessitating a minimum holding of 10,000 vSpace tokens on a monthly basis.
In the event of non-compliance with these requirements, MVCDAO will arrange an election process within 10 days to replace the non-compliant member. This is to ensure the integrity and smooth functioning of the MVCDAO ecosystem.
8) Stay Safe & DYOR [Under MIP-15]:
All MVCers, Remember, in the world of DAO, we're all about Do Your Own Research (DYOR). Before diving into any DAO activities, make sure you've done your homework. MVC is a DAO, which means we're all in this together, but MVCDAO can't be held responsible for any losses due to independent DAO member's actions. So, always stay vigilant, do your own research, and let's keep our community safe and thriving!
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