DAO Governance
DAO Governance
World Of Midgard Council
Community of $WOM tokens will govern and maintain the protocol via the World Of Midgard Council.
The governance process is modeled after DOA governance of Synthetix, which itself is modeled after the governance of the Ethereum EIPs and versions of change control in open-source software.
2. Election of the Council
Holders of $WOM token will have an ability to both nominate people for a council seat as well as delegate their vote to a nominee.
Candidates must be proposed before the election deadline.
The 72 hours voting period to elect 5 people will start immediately after the deadline.
3. Quadratic Voting mechanism
Quadratic Voting mechanism reduces power of large token holders and plutocracy.
It is used by a number of other protocols and it is a trustworthy way to weigh votes.
4. How it works
The World Of Midgard Council will debate changes to the game.
World Of Midgard Proposals ( changes in the protocol vial ICCPs and IIPs) must reach a supermajority agreement to be enacted (submits to the IIP’s Github repository)
ICCP definition
ICCPS are documents related to modifying system configurable variables of World Of Midgard.
The author of the doc must build consensus within the community and also document dissenting opinions.
System configurable variables of World Of Midgard which can be changed:
Council Related Values like length of Council Epoch
Fees and Fees limits.
Communication and grouping availability between game factions
IIP definition
ICCPS are documents related to promising changes to World Of Midgard.
The author of the doc must build consensus within the community and also document dissenting opinions.
Development made via IIPs may include:
new features
new expansions
Council Epoch
World Of Midgard council members will serve for the full Council Epoch duration and they will be debative and voting on ICCPs and IIPs.
In case of council member resignation or removal council will open rate the same way without that member but the supermajority formula will change.
Meta-Governance
If there is a need to decide about changes to the council during epoch, any such meta-governance proposal will need to be unanimously decided.
Council Pension
Council payments will be made by the World Of Midgard DAO after the end of each council Epoch.
If a council member resigns or is removed from council during epoch they will receive payment proportionate to their time in the council. Supermajority
Supermajority formula: [ (N+1)/2] where N is the number of council members.
[this content will soon be extended]
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