MIP#39

MIP#:39
Title: Functional Department [MIP-1 Extended]
Author(s): Committee, Admin & MVClabs
Contributors:
Editor: N/P
Date Proposed: 2024.06.06
Date Ratified: 
Dependencies: MIP-1
Replaces: N/P
Exception to MIP: N/P

Vote Option:
Yes
No

Proposal Summary:

https://docs.google.com/presentation/d/1cgZT8JNuWLNnLrhPcuDhhBbF2_MyWJrd/edit#slide=id.p1

Executive Summary:

We're excited to introduce enhancements to the MVC Department Model, as initially scheduled and outlined in the MIP-1 constitution.

In the 17 months following our mainnet launch, we've faced obstacles in advancing new initiatives, often hindered by diverse opinions and minor issues that required extensive discussions. This has led to significant stagnation and inefficiency, which falls short of our aspirations in the fast-paced world we navigate.

To address this, the department model enhancement upgrade will:

Establish various functional departments.
Delegate clear responsibilities to department heads.
Streamline the decision-making process.
Improve operational efficiency.

This strategic shift is designed to overcome previous hurdles and foster a more dynamic, effective approach to enhancing MVC's visibility.

Department Head & Committee Elections Start Soon - Stay Tuned!

Section 1: ### Finance & Compliance Department: ###

Objective:

The Finance & Compliance functional department within MVCDAO is dedicated to maintaining the organization's financial health, integrity, and adherence to regulatory compliance. This department is pivotal in ensuring operational transparency, accountability, and alignment with strategic objectives, thereby building trust within the community.

Key Responsibilities:

- Generate Monthly Operational Expenditure Reports:

Regularly produce detailed reports on the DAO's operational expenses. This ensures that all committee members [Procedure auditor] are informed about how resources are being utilized, promoting transparency.

- Prepare Financial Statements in Collaboration with Sinophoe associate - Further expenditure is required only when this feature is upgraded (Approx. Starting from Q1 2025 or only when schedule is available)

- Enforce Compliance:

- Due to regulatory compliance and legal purposes, in the Official MVC Channel and general real life conversation, Space cannot be acknowledged or discussed as an investment vehicle. Please respect the official channel policies and adhere to them, as they are mandatory for all members. Thank you for your understanding.

- Engage with External Auditors:

Collaborate with reputable auditors to bolster credibility, but only one year after the financial statement feature upgrade through Sinohope, on a regular basis. Estimation the first external audit on Jun or Jul 2025 - Further expenditure is required.

- Oversee Code of Conduct and Misinformation Compliance:

Ensure all members follow the code of conduct and implement measures to verify information, fostering a respectful and truthful community.

- Liquidity and Provide Transparency Reports

Offer weekly and monthly updates on liquidity status through reports prepared by a third-party liquidity service provider, ensuring transparency in liquidity management by 3rd party.

- Re-allocate Market Depth and Liquidity Resources:

Based on the budget or third-party liquidity service provider instructions, assist them in uploading resources to optimize market depth and liquidity.

- Review and Distribute Reimbursements Properly:

Verify the legitimacy of reimbursement claims and ensure they are distributed in alignment with DAO resolutions, budget, and financial policies.

By fulfilling these missions, the Finance & Compliance functional department plays a crucial role in securing MVCDAO's stability, regulatory compliance, and transparency, contributing significantly to the organization's credibility and long-term success.

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Limitations of the Finance & Compliance Department:

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5) Limitations of the Finance Department:

The finance department can't simply wave its magic wand and make every other department and builder program efficient, effective, and free from fraud.

5A) Efficiency and Effectiveness: Not Guaranteed by the Finance Department:

The finance department focuses on the numbers, but other departments might prioritize strategic goals that are more about long-term growth than immediate, short-term efficiency. It's up to each department to use the budget resources effectively.

Imagine giving someone all the ingredients to bake a cake; the result depends on the cook who bakes the cake. Similarly, the finance department allocates the resources according to the budget and authorization criteria, but how those funds are used is up to each department's expertise and the overall condition of the industry.

5B) Fraud: Not Guaranteed by the Finance Department:

It is not within the purview of the Finance Department to ensure the operational smoothness of other departments or to prevent third-party fraud. Various departments should conduct thorough due diligence to mitigate the risk of external fraud.

5C) Builder Program: Not Guaranteed by the Finance Department:

The subsequent operation of applications coming from the builder program is not monitored or endorsed by MVCDAO and the finance department. All members should exercise caution for any engagement with applications coming from the builder program in the future.

5D) Clarification of Confidentity Rule

In the dynamic world of blockchain, striking the right balance between transparency and confidentiality is crucial for partners, vendor names, and their associated costs, especially when it comes to financial disclosures in public relations efforts. We can only disclose categories rather than exact costs and vendors to the public.

Here's a streamlined overview of the importance of maintaining confidentiality:

Competitive Edge: Keeping transaction costs private safeguards strategic insights from competitors, preserving a project's competitive edge.
Negotiation Leverage: Confidential financial dealings enhance a project's bargaining power with vendors, potentially leading to more favorable terms.
Partnership Dynamics: Revealing partner details and costs may deter potential collaborations.
Vendor Relations: Respecting confidentiality agreements with vendors may necessitate limited disclosure of specific details and costs.

While confidentiality is key, it's important to balance this with transparency to build community trust. This balance is achieved through detailed internal reporting by the finance department and regular audits by reputable audit firms, ensuring integrity and trustworthiness. This approach underscores a commitment to integrity, with the first external audit scheduled for mid-2025, a year after integrating financial data into the SINOHOPE all-in-one system.

5E) Payment Flexibility Example:

For a service or vendor costing 5,000 USD, department heads are authorized to pay up to around 5,250USD worth of space to accommodate the fluctuations issue. This flexibility ensures the protection of interests for both vendors and service providers at the time of transaction in accordance with the standards detailed in Section 14[MIP-39].

Disclaimer point 5A to 5E outlines the limitations of the Finance Department's responsibilities, emphasizing the collaborative effort required across departments and the DAO to achieve organizational objectives effectively.

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Limitations of the Finance Department:

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Section 2: ### Administration Department: ###

Objective:

The creation of an Administration Department within MVCDAO is designed to enhance operational efficiency and member engagement, playing a crucial role in the organization's ongoing success and sustainability.

Decision-Making Rule:

A collective decision-making process involving 7 committee members requires a 57% [4 out of 7] majority. Given time-zone differences and members' schedules, decisions receiving fewer than two rejections within 36 hours will defer to the Chief committee member's final decision for this department.

Key Responsibilities:

1. Enhance Operational Efficiency

- Goal: Streamline MVCDAO operations for seamless daily functionality.

- Action Steps:

- Standardize registration and identity verification processes.

- Committee (Internal Advisor, Auditor, and Ambassador) to continuously improve operational practices.

2. Strengthen Community Engagement and Support

- Goal: Cultivate a dynamic, informed, and engaged MVCDAO community.

- Action Steps:

- Act as MVC ambassadors on platforms like AMAs and Twitter Spaces to boost MVC network visibility.

- Improve communication channels between the committee and community for better information dissemination.

3. Ensure Quality Member Support and Guidance

- Goal: Provide prompt and accurate support and guidance to members.

- Action Steps:

- Efficiently moderate inquiries, addressing members' concerns and questions promptly.

- Provide navigation assistance, directing members to the right ecosystem channels or contacts for their needs.

4. Maintain and Enhance Digital Infrastructure

- Goal: Ensure MVCDAO's digital platforms are secure, user-friendly, and up-to-date.

- Action Steps:

- Oversee the maintenance and upgrade of the website and DAO voting platform to enhance user experience.

- Keep TG (Telegram), Discord Bot, and Space AI updated for effective community interaction.

- Launch a bug bounty program to identify and resolve security vulnerabilities when necessary.

5. Provide Assistance to Strategic Campaigns and Events

- Goal: Facilitate the successful execution of campaigns and events.

- Action Steps:

- Support the planning and promotion of exposure campaigns and community activities.

- Assist in organizing and hosting events that align with MVCDAO's mission and goals.

- Organize AMAs with partners or on relevant topics to MVC.

- Manage event decorations and prepare appreciation tokens.

This structured approach ensures MVCDAO's Administration Department effectively supports its mission, driving growth, and fostering a strong, engaged community.

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Section 3: ### Public Relation Department: ###

Objective:

To significantly enhance MVC's global presence and adoption through strategic media engagement, partnerships, and community-driven initiatives.

Foster Media Relationships
- Build and maintain strong connections with leading crypto and tech media outlets.
CEX Listing
- Strategize and negotiate listings on top-tier CEXs to improve liquidity and make the MVC network more accessible to a wider user base.
- Work on meeting listing criteria, preparing the necessary documentation, and garnering community support.
Engage in News Writing and Partnership Development
- Produce high-quality, informative content that highlights MVC's unique features, use cases, and achievements.
- Identify and establish partnerships with other blockchain projects, platforms, and influencers to cross-promote and leverage each other's strengths.
Coordinate Conferences & Events
- Plan, organize, or participate in blockchain and crypto conferences, meetups, and webinars to showcase MVC to industry leaders, developers, and potential users.
- Use these platforms for networking, presenting MVC's vision, and attracting talent and collaborators.
Organize AMAs and Influencer Collaborations
- Host Ask Me Anything (AMA) sessions across various platforms to engage with a wider audience [both users and developers].
- Collaborate with influencers and thought leaders to reach new audiences and generate buzz around MVC.
Expand Global Network Awareness
- Implement targeted exposure campaigns in key geographical markets to raise network awareness and foster a global MVC community.
- Translate content and engage local influencers and communities to ensure MVC's message resonates across different cultures and languages.
Campaign with Various Communities for Network Expansion
- Engage with blockchain and tech communities to promote the MVC network and encourage adoption.
- Participate in forums, social media groups, and discussion platforms to increase MVC's visibility and support.
Confirm General Partnerships and Integration
- Secure strategic partnerships with businesses, platforms, and services where MVC can be integrated or utilized, enhancing its utility and user base.
- Work closely with developers and various projects to ensure smooth integration and collaboration.

Conclusion:

The establishment of a Network Awareness/Exposure Department within MVCDAO is a strategic move to propel MVC into the limelight, ensuring it is recognized as a formidable player in the blockchain space. By focusing on media engagement, strategic partnerships, and global expansion, MVC can achieve unprecedented growth and adoption. Let's make MVC network the talk of the town!

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Section 4: ### Development Department: ###

Motivation

It’s been over a year since MVC’s mainnet launch, during which，MVC experienced the explosion of BTC ecosystem boom and gained considerable development.

MVC has been developed from the original v0.1.1 to the current v0.2.0,and got a lot of great achievements.for example: Highly concurrent transactions over 10K TPS, support BVM virtual machine and smart contract, Global top hash power etc.

MVC stays true to its original vision and gradually turns it into a reality.Despite the great success of MVC, there are still some bottlenecks in performance, scalability, and security.The scheduling and progress of development work has also been questioned by the community.

At present, the loose organizational structure of MVC developers is not conducive to the long-term development, and there is a shortage in the formulation and implementation of the development route. As an early contributor,I’m well aware of the difficulties and obstacles in development . We believe, an organized management can bring a qualitative leap to the whole MVC ecology.

Executive Summary

This proposal aims to set up a functional department for MVC development,and makes development continuos in a more organized way.The main job of this department is to create and implement the long-term development plan of MVC.

Details

MVC’s node and SDK development involves a lot of heavy and trivial work.It is undoubtedly a rational and efficient way to control and manage the whole development process through a functional department and set up a special fund to cover the costs.This is also in accordance with the constitution's provisions on node development and scaling research.

https://mvcdao.gitbook.io/mvc-dao/mvcdao/the-constitution-of-the-mvcdao

This department will consists of several development teams and a principal in charge .

The members of the development organization include, but not limited to, the following teams,all of which have years of deep experience in the blockchain industry.

principal in charge

Early Contributor of the MVC’s node development, who developed MVC node from v0.1.1 to v0.2.0 .

Blocktree

Blocktree has developed the openwallet framework and redefines a wallet system model compatible with multiple blockchains. At the same time, we have build an openwallet developer platform, which integrates 70+ blockchain protocols, which greatly reduces the cost of developers and users.

Website: https://github.com/blocktree

sCrypt

sCrypt Inc. is a blockchain development platform that provides a set of tools and infrastructure for developers to build on Bitcoin Virtual Machine (BVM) blockchains such as MVC. Its mission is to build an operating system between BVM and applications, providing speed to developers and rapid time to market for builders, eventually empowering them to build killer applications that take blockchain technology to the mainstream.

Website: https://scrypt.io

Goals in the future

Once set up, this department will begin organized development in line with the vision that MVC has always had.We will continue to work on scaling research, making MVC more scalable while improving its performance.We will continue to work towards our goal of making MVC the best paradigm and solution for BTC sidechain.

Here are some of our goals for now

l Refactor the entire node with rust language

l Fast synchronization using light node technology

l Integrate already proven techniques without changing the consensus，such as SW Taproot

l Raise concurrent transactions to over 100K TPS

l Developer-friendly SDK--sCrypt framework

l Native integration with BVM

l Determine and implement a cross-chain bridge solution suitable for MVC

l Promote multi-ecological integration and make MVC the best smart contract platform for Web3 developers

We will continue to study new technologies and make reasonable adjustments to the development route according to the actual situation.

Funding Request and Usage

Request for 60,000 SPACE per quarter as development funds.

10% of which will be used for flexible spending,and the remainder will be used to cover development costs.

Before the beginning of each quarter, each participating team submits the development plan and budget, and the principal in charge will pay according to the actual results of development and publish the financial report after the end of the quarter.

The unspent portion will be filled into the next quarter's development funds.

Responsibilities and Obligations

l Develop and implement development plans and adjust them in real time according to technological innovation

l Develop and publish development plans on a quarterly basis

l Report the use of funds on a quarterly basis

l Report development progress regularly

l Keep in touch with the community and take reasonable suggestions from the community

First quarter development plan

The department will be formally established after the proposal is approved, so the development plan for the first quarter will be included in this proposal.

l Set up the infrastructure and development environment of the new node

l Initializing and configuring the Rust codebase

l Bitcoin and MVC Script instruction set transaction building and processing in Rust

l Complete the cross-platform support and testing of the current node

l DNS seed development, improve node connection stability

l Start supporting development of SW and Taproot, which will last for two or three quarters

l MVC TypeScript library development

Important note:

The development department's plan outlined above is subject to change based on the actual situation by department head.

Section 5: Maximum Budget Usage per quarter:

Maximum budget usage per quarter determined by various department head.

Objective:

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 department head 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 department head. 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.

Section 6: Quarterly Budget Review and Reallocation:

Budget reviews and reallocations are conducted quarterly, when necessary. Adjustments can be initiated by any committee member, with a minimum of 5 out of 7 votes in favor, or through an on-chain DAO proposal with consent [60%]. This process enables MVCDAO to remain agile and responsive to its operational and strategic needs in the evolving environment.

Note to section 6: Contingency Plan

Partnership/Integration/CEX listing budget portion may be used to compensate contributor or pay the following vendors in case value of space fluantaute lower than 1.5 USD in the future

1) Various department personnel

2) SINOHOPE all in one asset security system costs, subsequent accounting system costs and audit fee when necessary.

Section 7: Elections and Replacement of the Department Heads

Elections:

Elections are held twice a year: Six to seven months per election period depends on schedule.

Impeachment Department Head during Tenure

The impeachment of a department head during their tenure requires

A) A 67% consent through a DAO proposal or

B) 4/7 committee consent + 60% DAO On-Chain Proposal.

Section 8: Election Criteria:

Application Form:

Department Head:

https://docs.google.com/forms/d/1HrAi6DljaXedVBxpdSk33iwGiEb-ySNPTi1Q3BCP4Xo/viewform?edit_requested=true

Committee: https://docs.google.com/forms/d/e/1FAIpQLScsi5en5LS2T6GFEeo23CkVWx_lqwtgFr8P5qNJSyjzLLqu8Q/viewform?usp=sf_link

A) KYC:

B) Telegram & Twitter Handles:

C) Personal Introduction:

D) Proof of vSpace Holding:

E1) Committee: 1,000 vSpace

E2) Department Head: 10,000 vSpace

F) NDA Agreement - Non-disclosure of confidential arrangements, examples include but are not limited to KOL collaboration and partnership costs.

G) Full-Time Work - Department Head.

Finance Department Head: CPA Member from recognized accounting body in the world.

Node Department Head - Sophicated Node development experience is required.

H) Understanding that MVC is independent of all Ecosystem.

I) Upholding MVCDAO Consitution

J) Compliance with the general code of conduct

K) Due to regulatory compliance and legal purposes, in the Official MVC Channel and general real life conversation, Space cannot be acknowledged or discussed as an investment vehicle. Please respect the official channel policies and adhere to them, as they are mandatory for all members. Thank you for your understanding.

Section 9: Termination due to non-compliance:

Candidates must be ready to uphold MVCDAO consitution, adhere to the code of general conduct and must not violate any laws or compromise unauthorized data. This is crucial for maintaining the integrity and effectiveness of the MVCDAO.

Breach Policy: Violations of criteria I to K listed in Section 8, upon to three times with evidence, allow for the immediate termination of the department head's tenure with either the consent of a neutral facilitator or four committee members, or a DAO MIP proposal with 60% approval.
Fraud Policy: Any deceptive or fraudulent conduct, proven once with evidence, allows for the immediate termination of any position including the department head and committee's tenure with either the consent of a neutral facilitator or four committee members.
MVCDAO Resource and Branding Guidelines: MVCDAO strictly prohibits the misuse of its resources and branding for illegal promotional activities. This includes, but is not limited to, offline pyramid selling, multilevel marketing activities, or any similar promotions. Any position holder found violating this policy will face immediate termination from their role within the organization.
Lack of vSpace holding requirement during the Tenure: Either the consent of a neutral facilitator, four committee members' consent, or a DAO proposal with 60% approval, to terminate the department head's tenure.

Section 10: Expenditure Authorization Limits and Partnership Approval Process

Expenditure Authorization Limits:

Up to $30,000 USD : Approval required from a Functional Department Head.
$30,001 to $80,000 USD : Approval required from one Functional Department Head, with no more than two objections from committee members within 36 hours or three functional department heads's consent.
$80,001 to $130,000 USD: Approval required from two Functional Department Heads plus two Committee members or three functional department heads's consent.
$130,001 Above: Approval requires consent from four Committee Members plus one Functional Department Heads or a DAO on-chain proposal.

Development Department Authorization Limit:

Expenditure for the Development Department is not subject to the above criteria and is fully determined by the Development Head.

Technical Knolwedge Center:

Technical knowledge Center MIP-29's expenditure will be included in the budget of builder program.

Section 11: Signature Requirement for payment in SINOHOPE system:

1) On or before 31 Aug 2024

All Payment:

Finance Department Head + Payment Operator + One Department Head

2) From 01 Sep 2024

Payment lower than USD 30,000

Payment Operator + One Department Head [Payment Initiator]

Payment above USD 30,001

Payment Operator + Finance Department Head + One Department Head [Payment Initiator]

Section 12: Accommodation & Transportation & Meal General allowance:

Objective:

To establish transparent and fair criteria for daily allowances and part-time assistance for contributors participating in off-site activities, particularly events and conferences.

This accommodation, transportation and meal standard supersedes MIP-2, MIP-27, and MIP-28, and will be the standard for all future offline events unless otherwise amended by subsequent proposals.

1. Pricing Consideration:

- Recognizing the peak demand period of Web3 events, where hotel rates typically experience a surge of 20% to 50%.

2. Accommodation:

- Contributors involved in off-site activities, particularly during high-demand periods such as Web3 events, will be accommodated in a minimum 4-star hotel situated within a reasonable walking distance (approximately 2KM) from the event venue. This selection is intended to enhance efficiency and convenience throughout the event or conference.

3. Criteria:

Accommodation & Transportation Terms:

Travel & Meal Expenses:

Travel expenses necessitate comprehensive event or conference trip reports with detailed information on daily locations, contacts, and purposes. Failure to provide documentation may lead to expense disqualification. Expenses falling within daily maximum limits are recognized without external documentation, with any surplus considered a bonus for the contributor.

Specific Terms for Functional Department Heads:

Meal Budget for Hosting Guests: Department leaders are allocated a meal budget under specific conditions:

A maximum budget of USD 250 per trip is allowed. Documentation must include receipts, guest names, and topics of discussion.
For trips lasting 4 days or longer, and when the space value exceeds 20, a budget of USD 350 per trip is permissible.
Transportation can be upgraded to Business Class when the value of space exceeds 75.

Criteria for acknowledging travel & meal expenses and acceptable evidence:

Accommodation and miscellaneous expenses: Supported by unified hotel invoices, standard receipts, or travel agency payment records, accompanied by itemized expenditure breakdowns.

Details to Transportation expenses:

4.1 Air travel expenses: Original flight tickets (or e-tickets) and boarding passes. In case of loss, an official document from the airline is necessary as a substitute.

4.2 Ferry travel expenses: Supported by ferry tickets or official documents from the ferry company.

4.3 Train, bus, and mass transit fares: Supported by passenger receipts. For high-speed rail, original ticket stubs, purchase receipts, or same-day round trip passenger receipts are required.

4.4 Taxi fares: Supported by passenger receipts. For hired taxis, a certificate from the taxi company and passenger or traveler receipts are essential.

4.5 Expenses for chartered vehicle rentals: Supported by uniform invoices or receipts from the vehicle company.

4.6 Toll charges for private car travel: Supported by passenger receipts for electronic toll collection lanes on highways.

4.7 Trip taxi and mass transit expenses within maximum limits do not need external documentation for recognition.

Accommodation expenses:

Accommodation expenses exceeding maximum standards demand recognition documentation and justification for force majeure situations. For instance, during peak seasons, hotels in popular areas may have significantly increased rates, posing challenges to adhere to standard daily allowance budgets.

Inflation Adjustment:

To account for inflation, accommodation, transportation, and meal allowances will increase by 5% annually, effective from January 1st each year. Adjustments beyond this rate require a majority vote from at least 4 out of 7 committee members.

Section 13: Budget Framwork for Various MVCDAO Position Member

Remarks for the Remuneration budget framework:

1) Example for illustration:

[Part-Time] Twitter Operator role pays 1,900 USD worth of space per month
[Part-Time] Payment Operator role pays 1,900 USD worth of space per month
[Part-Time] Committee [Advisor] role pays 800 USD worth of space per month
[Part-Time] Moderator role pays 735 USD worth of space per month

Committee member can apply maximum additional one part-time role upon acceptance by relevant department head.

Twitter Operator + Committee = 1,900 USD + 800 USD = 2,700 USD worth of space per month
Moderator + Committee = 735 USD + 800 USD = 1,535 USD worth of space per month
Payment Operator + Committee = 1,900 USD + 800 USD = 2,700 USD worth of space per month

2) Inflation:

To account for inflation, remuneration will increase by 5% annually, effective from January 1st each year. Adjustments beyond this rate require a majority vote from at least 4 out of 7 committee members.

3) Remuneration Adjustments:

If the Value of Space = 100, all MVC position members' remuneration increases by 5%.
If the Value of Space = 200, all MVC position members' remuneration increases by 5%.
If the Value of Space = 400, all MVC position members' remuneration increases by 5%.
If the Value of Space = 800, all MVC position members' remuneration increases by 5%.

4) Tax Responsibility:

Participants are responsible for all taxes.

5) Legal Compliance:

All rewards and grants are subject to applicable law.

6) Law and Data Protection:

Participants must not violate any laws or compromise unauthorized data.

7) KYC Procedures:

Additional KYC procedures may be required at MVCDAO's discretion. Non-compliance will lead to forfeiture.

8) Grant and Remuneration Distribution (Non-Builder Program):

Distribution takes place from the 5th to the 11st of each month.

9) Grant and Remuneration Distribution (Builder Program):

Distribution takes place from the 15th to the 21st of each month.

10) Reporting to Finance Department:

Personnel's remuneration support and details must be provided to the Finance Department on or before the last day of each month; otherwise, the remuneration will be postponed to the next remuneration period.

11) Liability for Incorrect Addresses:

MVCDAO is not liable for losses due to incorrect recipient addresses.

12) Approval for Additional Personnel over the budget quota above.

Additional personnel over the budget mentioned in the framework above require consent from three Functional Department Heads or four Committee members.

Section 14: Space Value Determination:

Objective: The aim is to implement a standardized and objective mechanism for valuing Space in a dynamic market environment. This approach is designed to reduce potential conflicts by providing a clear, fair, and consistent method for value calculation.

Methods:

2-day Average: Calculate the average closing price of Space for the two days preceding the reward settlement, then apply a multiplier of 0.95.
5-day Average: Determine the average closing price of Space over the five days leading up to the reward settlement, multiplying the result by 0.95.
Short-term Volatility Adjustment: During periods of high short-term volatility, calculate the average of the day's high and low prices, then multiply by 0.95.
End of Period Average: For the end of each month, calculate the average closing price of Space over the last seven days, applying a 0.95 multiplier.

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 basis, as determined by various functional department or neutral facilitator, 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.

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Disclaimer & Remarks:

1) Disclaimer on Investment Intentions

Due to regulatory compliance and legal purposes, in the Official MVC Channel and general real life conversation, Space cannot be acknowledged or discussed as an investment vehicle. Please respect the official channel policies and adhere to them, as they are mandatory for all members. Thank you for your understanding.

Decisions to acquire or use Space for speculative or investment purposes are solely at the discretion of the individual. MVCDAO explicitly disclaims any responsibility for losses that may arise from such actions. Members are urged to exercise caution and make informed decisions.

2) No Assurance on Space Value

Please note that MVCDAO does not make any commitments or guarantees regarding the value of the network gas: SPACE.

3) No Investment Advise:

This proposal is focused on enhancing the visibility and sustainability of the MVC network. It is important to note that the arranagement mentioned in this proposal do not constitute investment advice. Participants and all members should refrain from interpreting it as such.

4) Conflict of interest declaration:

The author of this proposal has not received any commission.

5) Limitations of the Finance Department:

The finance department can't simply wave its magic wand and make every other department and builder program efficient, effective, and free from fraud.

5A) Efficiency and Effectiveness: Not Guaranteed by the Finance Department:

5B) Fraud: Not Guaranteed by the Finance Department:

5C) Builder Program: Not Guaranteed by the Finance Department:

5D) Clarification of Confidentity Rule

Here's a streamlined overview of the importance of maintaining confidentiality:

Competitive Edge: Keeping transaction costs private safeguards strategic insights from competitors, preserving a project's competitive edge.
Negotiation Leverage: Confidential financial dealings enhance a project's bargaining power with vendors, potentially leading to more favorable terms.
Partnership Dynamics: Revealing partner details and costs may deter potential collaborations.
Vendor Relations: Respecting confidentiality agreements with vendors may necessitate limited disclosure of specific details and costs.

5E) Payment Flexibility to protect vendor and service provider interest:

6) Clarification of the Committee's Role within MVC

The Committee serves as an advisory body and procedural auditor for the [builder program], offering insights to support MVC's mission. It's important to emphasize that the Committee does not engage in the direct management or governance of MVC.

Final decision-making authority rests with the respective department heads. It is essential for the Committee to respect these boundaries and gracefully accept the decisions made by the department heads.

If a committee member believes that a department head's actions do not align with MVC's best interests in the long term, the committee is empowered to propose the impeachment of a department head during their tenure. The impeachment process requires:

A) A 67% approval through a DAO MIP Proposal submitted by any member holding at least 0.2%.

B) Consent from 4 out of 7 Committee members, plus a 60% approval from a DAO MIP On-Chain Proposal.

7) Fostering a respectful and informed MVC community.

7A) Informed Participation: We urge all members to make informed decisions regarding their involvement within the MVC community. In case a member accidentally enters a wrong community that does not align with their values, our compliance department offers an acknowledgment application form. This process ensures that all members are fully informed and agree to all general principles before rejoining, maintaining a clear and understanding environment for everyone.

7B) Access and Re-entry: MVCDAO position members should not grant re-access to any member with restrictions without the completion and submission of the acknowledgment application form. This policy is in place to ensure that all members have a clear understanding of all general principles, thus minimizing future chaotic situations.

We appreciate your understanding and cooperation in fostering a respectful and informed MVC community together.

8) Termination due to non-compliance:

Breach Policy: Violations of criteria I to K listed in Section 8, upon to three times with evidence, allow for the immediate termination of any position with either the consent of a neutral facilitator or four committee members, or a DAO MIP proposal with 60% approval.
Fraud Policy: Any deceptive or fraudulent conduct, proven once with evidence, allows for the immediate termination of any position with either the consent of a neutral facilitator or four committee members.
MVCDAO Resource and Branding Guidelines: MVCDAO strictly prohibits the misuse of its resources and branding for illegal promotional activities. This includes, but is not limited to, offline pyramid selling, multilevel marketing activities, or any similar promotions. Any position holder found violating this policy will face immediate termination from their role within the organization.
Lack of vSpace holding requirement during the Tenure: Either the consent of a neutral facilitator, four committee members' consent, or a DAO proposal with 60% approval, to terminate the department head's tenure immediately.

9) MVC operates autonomously, independent of all ecosystems.

9A) Ecosystem Inquiry and Communication:

While MVCDAO itself doesn't manage ecosystem communication and operates independently from all ecosystem, we're more than willing to facilitate connections and provide the necessary contact information to ensure community members can reach out to the right ecosystem representatives or channels for communication and inquiries.

Just as the Ethereum Foundation operates separately from the ecosystem, we encourage inquiries to be directed to the specific ecosystem representatives for the most accurate and helpful responses, rather than directing inquiries directly to the Ethereum Foundation, or in our case, MVCDAO.

9B) Ecosystem Competitiveness:

We're thrilled to witness the rapid evolution and diversification of the MVC ecosystem, particularly following the launch of the builder program. However, it's important to clarify that the MVC DAO budget is dedicated solely to MVC and does not extend to supporting the operational or competitive aspects of ecosystem projects, except for node operation.

Ecosystem projects are responsible for their own competitiveness and operational costs post-launch. While we celebrate the achievements and exciting news of ecosystem partners, MVC DAO do not ensure their market competitiveness.

9C) Ecosystem Safety:

The safety of any ecosystem cannot be guaranteed by MVCDAO. We are not responsible for any losses incurred due to hacker attacks or interactions with ecosystem projects or partners.

Members are advised to proceed with caution when engaging with any ecosystem or partner projects.

9D) Supporting the Ecosystem:

We want to express our appreciation for the members' valuable support in boosting the exposure of the ecosystem. Your efforts are deeply appreciated.

However, MVC maintains neutrality and does not officially endorse any specific ecosystem entities, including early contributors, MVClabs, or participants in the builder program.

Should any member engage in activities such as organizing AMAs with ecosystem developers or offering assistance to any part of the ecosystem, we encourage the member to reach out directly to the involved ecosystem representative and their relevant channels for discussions regarding their policy on potential rewards.

To ensure clarity and prevent any future misunderstandings, we recommend establishing an agreement with the respective ecosystem if rewards are anticipated for support. Otherwise, it may be beneficial to consider such contributions as voluntary.

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Last updated 3 months ago