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This section outlines the structure of a Decentralized Autonomous Organization (DAO) to be governed by community members who lock RDNT, a decentralized ERC-20 token that the community intends to serve as the primary token for governing the Radiant Protocol.
Supernova Holdings (the “Foundation”) will serve the Radiant DAO by fostering a community ethos of dialogue and innovation, and will provide the frameworks necessary for decentralized governance on both a granular and a macro level.
To achieve this, it is important to ensure that the processes of proposal submission and voting are restricted to Radiant DAO members. The sole requirement for membership in the DAO is to have any given amount of RDNT tokens held within Radiant’s
multiFeeDistributionsmart contract (hereby referred to as “locked RDNT”). A user’s balance of locked RDNT will proportionally represent their voting weight on all proposals.
In alignment with the Foundation’s core value of transparency, all preliminary discussions, proposals, votes cast and outcomes will be publicly available to view.
The Foundation, which will serve the Radiant DAO community and be governed by it, aims to be the executive arm of the protocol by implementing the consensus-driven will of the Radiant DAO.
The Radiant DAO community will have the power to submit proposals, vote on proposals, and bring those to fruition.
The Foundation adheres to four core values:
- 1.Innovation: We focus on ways to think big and bold to accelerate innovation across ecosystems.
- 2.Determination: We’d rather be iterating frequently than never trying. “Better a diamond with a flaw than a pebble without.”
- 3.Collective Benefit: Solve for the customer–not just their happiness, but also their success.
- 4.Transparency: “Sunlight is the best disinfectant.” -Louis Brandeis
The Council plays a supporting and coordinating role for work contributed by the Radiant DAO ecosystem’s decentralized community of users (the “Community”). However, it is the Community’s responsibility to develop the RDNT DAO ecosystem and make proposals to guide the long-term strategy of the Foundation and the RDNT DAO.
Three (3) persons (“Council Members”) appointed by a plurality vote of locked RDNT Tokenholders, pursuant to and evidenced by the RFP Process, and in the first instance, appointed by the directions of the Foundation.
- Inaugural Council will serve for an initial six (6) month term, beginning on September 17, 2022 (the date at which RFP-1 was ratified). Subsequently, the Council will be chosen annually by a vote of locked RDNT token holders, pursuant to and evidenced by the RFP process.
- The Second Council will be voted in on March 17, 2023.
- All subsequent Councils will serve for a twelve (12) month term.
- A Council member may be removed and replaced prior to the term pursuant to a 2/3rds majority vote of locked RDNT tokenholders.
- Any holder of ≥25000 locked RDNT may nominate a candidate to serve on the Council.
- Fund transitions by the Foundation from the Treasury, including employment contracts and grants to support Community development.
- Sign transactions from the Council Multisig to ensure that an approved RFP receives sufficient signatures (even if the Council member had voted “no” with respect to that RFP).
- Attend weekly meetings, vote on RFPs, and attend unofficial Community events hosted by the Foundation and ecosystem members. Council Members may choose the frequency with which they perform these activities at their own discretion, bearing in mind that if they fail to adequately represent the Community due to infrequency of participation, they may be removed as a Council Member by other Members.
- Pursuant to RFPs, perform adjustments to economic parameters with respect to RDNT; provided that, in the instance of an Emergency Meeting as described below, the Council may perform adjustments to economic parameters with respect to RDNT pursuant to a majority vote of Council Members.
- Coordinate Emergency Meetings on behalf of the Community, RDNT Tokenholders or the Foundation, pursuant to a majority vote of Council Members. This enables Council to rapidly respond to any imminent security threats to the Radiant ecosystem.