ODAO
As Optim continues to grow in 2024 and beyond with new products and primitives, we aim to innovate and improve the ODAO to match our upward trajectory. Protocol innovation and expansion will require a DAO that is equally robust and efficient. With this in mind, we’ll be transitioning the ODAO to a tricameral system. The summary provided below is a high level overview meant to give the community an idea of the direction the ODAO is headed. As we progress towards this goal we’ll further detail, amend, and refine the tricameral system with the community before ratification.
ODAO, in the future, will operate on a unique and powerful governance model, a tricameral system. While common in the evolved governance systems of nations, there are few DAO implementations. At its core, this system comprises two essential components: DAO Council Members, DAO Citizens, and the DAO Court.
At the helm of ODAO's governance are the DAO Council Members, a group of 13 individuals entrusted with the responsibility of ensuring the growth and sustainability of Optim DAO and its associated products. They also manage the treasury, making strategic decisions to optimize resource allocation.
What sets this council apart is its dynamic nature. During our preliminary tests of this model, four initial members, namely Marco, Idrec, JWolfish, and Joynul, have already taken their seats. However, the power to propose and enact changes lies in the hands of the entire council, with decisions requiring more than 50% approval. Token allocation for these council members is a blend of individual and collective shares, encouraging active participation and collaboration.
DAO Citizens form the progressive community within ODAO, wielding considerable influence through their proposal veto power. These members have the opportunity for upward mobility within the organization, securing contracts and advancing through ranks. The ability to form agreements with the council and other stakeholders empowers citizens to shape the future of Optim DAO.
ODAO's structure ensures that each OPTIM token holder becomes a citizen, with proportional representation based on their holdings. The power of the citizens extends to the ability to forcefully remove or install council members through an 80% majority vote, promoting a truly democratic environment.
The Court exists to ensure that the ecosystem as a whole's stance is aligned with the rest of the ODAO. As an observer of order, an impartial creator and executioner of law. They are to ensure that the dealings are just and the members treated fairly. This role will be filled by prominent and trusted members of the community and a well defined mediation process will be established at inception to ensure all conflicts are resolved in a positive and inclusive manner.
In order to better align the long term incentives of token holders, the Tricameral System will also transition power into the hands of $OPTIM 80/20 DEX pool LP tokens in 2024. This innovative dynamic will ensure that the liquidity providers in the ecosystem, who inherently provide the greatest support for the project, are accordingly rewarded with the most governance power.
Last modified 9d ago