MIP#15
Executive Summary:
MVC is on a mission to redefine the future of bitcoin and we need YOU!
We're super excited to announce the formation of the MVC Committee & Various DAO Position! This is your chance to be part of the revolution, to take Bitcoin from being just digital gold to a multifunctional blockchain network that supports a multitude of web3 decentralized applications. 🎉🎉🎉
We're not just talking about change, we're making it happen! MVC is an irreversible process in the Bitcoin ecosystem, and as a DAO, building is truly decentralized. But to keep this ship sailing smoothly, we need a committee and various DAO position.
And that's where you come in! We're looking for
7 X Committee Member
2 X Telegram Moderator
1 X Discord Moderator
1 X COO
1 X Executive Secretary
To join us on this thrilling journey towards true decentralized governance. As a committee member and DAO position member, you'll have the chance to deeply participate in project, and receive symbolic rewards. 🏆🏆🏆
So, are you ready to not just witness the revolution, but BE the revolution? The application deadline is 5th Nov 2023, and the election will take place on 8th Nov 2023 or when the Multiple Selection Function is available [on or before 13 Nov 2023]. The elected committee will serve for a term of six months. [Election take place every six months]
Let's revolutionize Bitcoin, Web3 and make history together!
Application Requirement:
Candidates must provide
A) KYC: To foster a sense of trust and transparency within the MVC community, all committee members must provide KYC to MVClabs. Other DAO positions must also provide KYC to MVClabs unless specified otherwise in the proposal.
B) Telegram & Twitter Handles:
C) Preferred Name: This will ensure that we address everyone correctly and respectfully.
D) Personal Introduction: This is your time to shine! 🌟 Give us a personal introduction that will make MVCers say, "Wow, we need this person on the MVC committee!" A history with MVC is preferred but not mandatory.
E) Upholding MVCDAO Principles: Candidates must be ready to uphold MVCDAO principles, adhere to the code of general conduct, and agree to follow all DAO proposal resolutions unconditionally. This is crucial for maintaining the integrity and effectiveness of the MVCDAO.
F) Proof of Holding: Application for the committee requires a proof of holding for qty of vSpace 1,000 every month. Application for the COO or future executive team leader position requires a proof of holding for qty of vSpace 10,000 every month. Evidence must be provided within 5 days upon request every month.
G) Authorization: Candidates must authorize MVCDAO to display items B to E. Candidates should provide a transaction ID (Txid) upon request to MVCDAO. This promotes transparency and accountability within the committee."
Important Dates:
Application Deadline: 5th Nov 2023 📅
Election Date: To be determined upon completion of MIP-15 and the Multiple Selection Function. The target date is on or before November 13, 2023.
Election Duration: 7 days ⏳
MVC Oath Document Signing Date: 25th Nov 2023
Application Form & Guideline Link:
1) Draft MIP-15: Link
2) Committee & DAO position application form: Link
3) DAO governance on-chain discussion platform: Link
4) DAO proposal general template: Link
5) After DAO rejection, proposal re-submission guideline: Link
6) Delegation guideline [Delegation is only available when the feature is functional]:
7) General check list before proposal submission: Link
8) The regular recap of the voting decision and comment by committee: Link
Committee Primacy Responsibilities:
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.
Evaluation of execution feasibility and completeness of a proposal [Example]
Objective: In the world of DAO governance, it's not just about having a great idea, it's about having a great feasible plan.
Before committee think about hitting that 'submit' button on each DAO proposal for voting, there are many key feasibility factors they need to reach consensus with author and various stakeholder before the submission of each DAO proposal. Let's take the example of Wrapped Space as an ERC20 Token.
Liquidity Rewards Ratio at Uniswap: This is the carrot that's going to attract liquidity providers to the platform. Committee and community need to reach consensus what the incentive will be.
Space Reserve: How much space should be wrapped as a reserve? 0.5%? More? Less? This decision will have a direct impact on the stability and liquidity of the wrapped token at account model chain.
USDT Resources: MVC may have BTC ordinal liquidity, ETH wrapped space liquidity, DEX liquidity, upcoming top-tier CEX's community liquidity, and 3rd party liquidity service charge. Which part should we address and what's the cost-effectiveness behind each DAO proposal? This is a balancing act. Remember, MVC is a start-up project, resources are limited.
Slippage Tolerance: Is DEX liquidity pool less than 100,000 USDT feasible? The slippage tolerance factor should also be addressed and noticed by community, therefore should be included in the proposal.
Governance: Who will hold the keys to the kingdom? Or in this case, who will govern the segment private key of this particular treasury? Are they willing and accepted by the community to hold the private key on behalf of MVCDAO? What is the standard to be recognized as a key segment holder for this particular treasury? It's crucial to reach a consensus with relevant stakeholders and the community before the proposal.
Multi-Sign Wallet: What multi-sign wallet should be used in Ethereum, and why should MVC choose it over other multi-sign wallets?
Transaction Tax Ratio at Uniswap: This is the fee charged on each transaction.
Block Confirmation Time: This affects the speed and efficiency of transactions between ETH & MVC. It's important to reach a consensus with relevant stakeholders on this matter, in this case, MVC-ETH bridge developer.
CEX Acceptance: DAO community should be aware that accepting wrapped space on CEX may involve additional charges. This should be addressed and do research in advance about the cost in the proposal.
Audit and Monitoring: Who will be responsible for auditing and recording the transactions or movements of this particular treasury?
Disclaimer: While MVCDAO is committed to providing the necessary support and resources to implement agreed-upon DAO proposals, it cannot guarantee their success, security after the DAO proposal.
In the end, DAO governance is all about making informed decisions, balancing act and take into account the risk factor together. The success of each proposal depends on a variety of factors, most of which are beyond MVCDAO's control. So, it's essential for the committee to consider the feasibility and completeness factor of each proposal before proposal submission for voting.
Remuneration basis:
We propose a tiered reward system based on the value of the 'Space' token at the time of payment. This system is designed to ensure a balanced and fair distribution of rewards, while also maintaining the financial sustainability of the MVC ecosystem.
Qty of Space: 100 per month each committee member with the following ceiling Criteria:
For a 'Space' value less than or equal to 35, the maximum monthly reward will be capped at 2,250USDT worth of 'Space' tokens at the time of payment.
If the 'Space' value is higher than or equal to 35, the maximum monthly reward will be capped at 3,000USDT worth of 'Space' tokens at the time of payment.
If the 'Space' value is higher than or equal to 100, the maximum monthly reward will be capped at 4,000USDT worth of 'Space' tokens at the time of payment.
If the 'Space' value is higher than or equal to 250, the maximum monthly reward will be capped at 5,000USDT worth of 'Space' tokens at the time of payment.
If the 'Space' value is higher than or equal to 625, the maximum monthly reward will be capped at 6,500USDT worth of 'Space' tokens at the time of payment.
If the 'Space' value is higher than or equal to 1,500, the maximum monthly reward will be capped at 8,000USDT worth of 'Space' tokens at the time of payment.
Example:
If the value of Space = 10USDT, each committee member will receive 100 space per month.
If the value of Space = 20USDT, each committee member will receive 100 space per month.
If the value of Space = 30USDT, each committee member will receive 75 space per month.
If the value of Space = 50USDT, each committee member will receive 60 space per month.
Execution of payment to committee: Payments will be made on or before the 8th of each month.
Remuneration structure based on voting participation and general comment attendance.
Remuneration Structure: The remuneration structure is designed to incentivize active participation and is based on both proposal voting and general comment attendance. The structure is as follows:
110% Remuneration: Awarded to member of committee with a proposal voting and general comment attendance of 95% or above.
100% Remuneration: Awarded to member of committee with a proposal voting and general comment attendance equal to or greater than 83.2% (5/6).
70% Remuneration: Awarded to member of committee with a proposal voting and general comment attendance between 70% and 83.2%.
40% Remuneration: Awarded to member of committee with a proposal voting and general comment attendance lower than 69.9%.
Note: committee members are permitted to abstain from voting occasionally, but abstention's ratio should not exceed (1 out of 6) over the same period. Abstaining on average from ''one vote for every six votes ratio'' on a monthly basis will not result in a deduction from their remuneration.
Minimum Voting & Comment Attendance Requirement:
Each member of the committee is required to maintain a minimum voting and commenting attendance rate of 70%. Furthermore, their abstention rate should not exceed 30% over the course of any two consecutive months. This stipulation ensures that committee members are actively participating in the DAO governance framework, rather than merely occupying seats.
Retention of Position:
If a committee member fails to meet the minimum voting and comment attendance requirements, a minimum of 5 internal votes in favor are required for the member to retain their position. This ensures that only the most committed and active members stay on the committee.
General Replacement of Committee Members:
A minimum of 5 internal votes or a 75% consensus DAO on-chain proposal is required to replace an existing committee member.
MVCDAO Position Conduct:
Any MVCDAO position, including committee members, found in breach of the general Code of Conduct [MIP-2 or subsequent version of code of conduct] three times or committing a serious offense such as engaging in misleading and deceptive conduct with evidence, will face immediate termination of their position. The Executive Team Leader or COO reserves the right to enforce this action on behalf of MVCDAO.
Committee Member Replacement Procedure:
In the event of a committee member's position becoming vacant, MVCDAO will accept new committee applications within 5 days. Following this, an election notice will be issued within 3 days, with a duration of 7 days to refill the vacant committee member position.
This proposal ensures that the MVCDAO committee is composed of active, committed members who adhere to the highest standards of conduct. It also provides a clear and fair process for the replacement of committee members when necessary
Space Value Determination:
Objective of this section:: To establish a standardized mechanism for determining the value of Space in a dynamic environment, thereby minimizing potential conflicts.
Methods:
2-day Average: The average closing price of Space over the two days preceding the reward settlement, multiplied by [0.96 to 0.97].
5-day Average: The average closing price of Space over the five days preceding the reward settlement, multiplied by [0.96 to 0.97].
End of Period Average: The average closing price of Space over the seven days at the end of each month or every two months.
The method that results in the lowest value will usually be applied to minimize potential conflicts.
Reward Distribution: Rewards will be granted to contributors either on a monthly or every two monthly basis, as determined by the executive team leader or COO, depending on the dynamic situation.
Value Determination: The closing value of Space will be determined by a reliable third-party source, such as:
Coingecko (https://www.coingecko.com/en/coins/microvisionchain/historical_data#panel)
CoinMarketCap (https://coinmarketcap.com/currencies/microvisionchain/historical_data/)
This approach ensures transparency and fairness in the reward distribution process.
Expenditure Determination and Operational Budget Framework [MIP-2]
Objective: In the dynamic world of decentralized governance, the key to success lies in striking the perfect balance between decentralization, efficiency, transparency, and effectiveness. This section guideline aims to establish a clear, efficient, and transparent process for the approval and execution of expenditures within MVCDAO, without the need for unanimous agreement on every decision.
Expenditures Below USDT 2,000:
These are like your daily coffee runs.☕️ [Day-to-day operational costs which should all covered within the operational budget framework (MIP-2 and it's subsequent operational budget proposal)]. Handled by the Executive Team Leader or COO, they keep the MVCDAO engine running smoothly.
The Committee, acting as an internal auditor, should reviews them regularly [every two-month, and more frequently, once a finance team leader is appointed or two executive secretary is appointed]. This ensures that the MVCDAO's operations run smoothly without any hiccups.
Expenditures Ranging from USDT 2,001 to USDT 30,000:
Now we're talking about a fancy espresso machine for the office. It require a minimum of 4 internal committee votes in favor.
The transparency here is top-notch with the regular recap of the voting decision and comment.
Expenditures range from USDT 30,001 to USDT 120,000:
"This is like buying a coffee plantation. It requires a DAO on-chain proposal with 60% consensus. The committee is there to provide relevant guidelines, advise on feasibility and completeness to the author, and, like a barista crafting the perfect brew, ensure the proposal is well-crafted.
Expenditures above USDT 120,001:
This is like opening a chain of coffee shops. It needs a strong 75% consensus from the DAO on-chain proposal. It's a big decision, and we want to make sure everyone is on board.
This approach ensures that MVCDAO's operations are as smooth as a well-made latte, with the perfect balance of efficiency, transparency, and democracy.
Committee Regular Proposal Voting & Discussion Schedule:
A well-structured schedule can make the decision-making process more efficient and transparent.
Option A) Three Times a Month Voting
This option enable:
More preparation time: Members have more time to prepare their proposals and engage in discussions.
Less pressure: With less frequent voting, members might feel less pressure and can participate more thoughtfully.
A) Voting take place every 3rd, 13rd and 23rd every month.
B) Proposals and issues should be submitted on or before the 2nd day of every month (UTC 15:00 & HKT 21:00) to enter the internal voting section. Otherwise, they will roll over to the next voting period section.
C) There will be a 36-hour internal voting period every 3rd, 13rd or 23rd every month (UTC 15:00 & HKT 21:00)
Option B) Weekly Voting
This option enable faster decision-making: With weekly voting, decisions can be made quickly, which is great for urgent proposals.
A) Proposals and issues should be submitted on or before Friday of every week (UTC 15:00 & HKT 21:00) to enter the internal Monday voting section. Otherwise, they will roll over to the next week's voting section.
B) There will be a 36-hour internal voting period every Monday of every week (UTC 15:00 & HKT 21:00)
Re-submission of proposal
A same proposal can be re-submitted 2 days after being rejected, with maximum three attempt re-submission every months. Maximum four submission attempt for voting for each specific proposal for each author.
Additional Guidelines: Any other supplements not mentioned in this proposal will follow MIP-2.
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.
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.
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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Other DAO Position:
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COO [Chief Operating 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.
Let's keep all conversations open and transparent: 🎤
As a neutral facilitator, the COO is open to discussing any topic with members in public. To prevent any unnecessary misunderstandings, we strongly discourage private messages to the COO.
We understand that some members may have specific questions or concerns that they'd like to address privately. However, we kindly ask for your understanding and respect for our transparency culture and keep all communications public. This approach ensures that every DAO member of the MVCDAO community has access to the same information and can contribute to the conversation.
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.
Consensus Stability Maintainer:
The binding force that unifies the various stakeholders of MVCDAO, ensuring its operation as a cohesive and well-coordinated entity
COO Remuneration:
The COO's remuneration is set at 1.6 times the committee remuneration rate. However, this rate is adjusted to the standard committee remuneration when an executive team of MVC is outsourced or an executive team leader is appointed.
Executive Secretaries:
Executive Secretary Role Overview:
The Executive Secretary is the unsung hero of MVCDAO, the wizard behind the curtain, their role is 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. 🕰️🚄
Appointment and Number of Executive Secretaries: The Executive Secretaries is directly appointed by the Executive Team Leader or COO within MVCDAO.
The number of secretaries or assistants:
It is directly tied to the value of Space. It's like a game of Tetris - as the Space value increases, we add more pieces to the puzzle to ensure everything fits perfectly.
When the Space value is less than 20, we have one Executive Secretary or Assistant appointed, ensuring that all tasks are handled effectively. However, when the Space value exceeds 20, we bring in an additional Executive Secretary or Assistant with accounting knowledge, doubling our administrative power to cater to the demand for transparency and data record purpose
When the Space value past 70, we bring in yet another Executive Secretary.
So, as MVCDAO grows, our administrative support scales accordingly to meet the increasing demands. Whether it's coordinating daily affairs, managing budgets, or ensuring smooth operations, our Executive Secretaries are always there, making sure MVCDAO is firing on all cylinders! They're the silent heroes, the ones who keep the MVCDAO ship sailing smoothly on the high seas of success!
Executive Secretary Remuneration - Maximum Budget per Member
'Space' value less than or equal to 35, 2,250USDT per month worth of space
'Space' value more than or equal to 35.1, 3,000USDT per month worth of space
'Space' value more than or equal to 100, 3,750USDT per month worth of space
'Space' value more than or equal to 250, 4,500USDT per month worth of space
'Space' value more than or equal to 625, 5,250USDT per month worth of space
Moderator:
KYC is not mandatory for position; however, it must be specified in DAO proposal or under committee's review if candidate's KYC is not available.
Moderator's Primary Responsibilities:
Resource Provision: Provide relevant reference materials and answer frequently asked questions (FAQs) from community members upon request.
Discussion Facilitation: Encourage and guide discussions, ensuring community members understand MVC through resources such as the MVCDAO Website, Twitter & Gitbook.
Proposal Framework Comprehension: Understand and explain the MVCDAO proposal framework, glossary, and comprehension check guidelines. Be able to provide these documents to Proposers and Members.
Governance Philosophy: Understand and embody the Governance Philosophy of the MVCDAO.
Forum Activity Summarization: Monitor and summarize activities on various platforms such as Discord, Telegram, and Show3 DAO forum. Report findings to the Executive Team Leader and COO.
Navigation Guidance: Be familiar with navigation services and guide members to the relevant Discord channels for discussion.
FUD Identification: Identify, warn, and if necessary, remove individuals spreading Fear, Uncertainty, and Doubt (FUD) to maintain a friendly and productive discussion environment.
Bot Service Utilization: Familiarize with and make use of bot services like 'Rose' to increase efficiency and effectiveness in moderation duties.
Number of Moderator:
Moderator are appointed or replaced directly by executive team leader or COO or mutual consensus of committee [4 out of 7] within MVCDAO.
When the Space value is less than 30, there will be one discord and two telegram moderator. However, when the Space value exceeds 30, an additional one discord and one telegram moderator may be appointed depends on the situation, bringing the total to five.
Moderator Remuneration - - Maximum Budget per Member
'Space' value less than or equal to 35, 700U per month worth of space
'Space' value more than or equal to 35.1, 850U per month worth of space
'Space' value more than or equal to 100, 1,000U per month worth of space
'Space' value more than or equal to 250, 1,200U per month worth of space
'Space' value more than or equal to 625, 1,400U per month worth of space
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:
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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