MaskDAO
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Governance and Treasury Management
MSK holders control the direction of MaskDAO endeavors.
Governance covers multiple aspects of DAO decision making which can include artist curation, NFT infrastructure tools, and internal governance.
MSK holders are responsible for approving - Artist proposals to launch their projects alongside MaskDAO and it’s curated marketplace - Infrastructure tools that bring value to the NFT ecosystem or to specific projects. - Internal decisions to direct MaskDAO towards future success and adapt to industry trends

Processes

Artist proposals will start with a submission directly from the artist, or with help from MaskDAO curators. These proposals will be posted on the MaskDAO website for MSK holders to vote through Snapshot. 7 Day Artist Proposal Process : 2 Days to inform MaskDAO members of project, 5 days of voting for approval. Infrastructure tools and internal DAO decisions These will follow a less formal path. Discussion will begin in the MaskDAO discord, and move to the Forum. From there a Snapshot Off Chain proposal will be submitted. If a Snapshot proposal is passed and no code is required to be implemented, the approved action can be taken. If code deployment is required, the code will go to audit if necessary, and then be proposed via on-chain governance at which point tokenholders will vote on-chain to deploy.

Treasury

We decided to keep the native token allocation given to MaskDAO low to avoid excess MSK spending at the expense of holders. Initially, the treasury will mainly be built up through fee’s generated through liquidity provider deposit and withdraw fee’s. These fee’s and the initial 5% MSK allocation should cover startup costs, developers, and the first few curated NFT launches.
Treasury Spending : The treasury will consist of multiple wallets - LP Fees - MSK Allocation - MaskDAO Future Revenues - Operations Operations Wallet This wallet will contain 50% of the initial MaskDAO MSK allocation, and 10% or $50k worth of total treasury funds. Funds in this wallet will be used for quick actionable spending for compensating previous work before launch and small individual expenditures (less than $2.5k) deemed appropriate by the core MaskDAO members. The governance process can sometimes take extra time, and this spending wallet will allow MaskDAO to make quick expenditures to keep operations going. Any individual payment over $2.5k will need separate approval by MaskDAO governance if the payment is not currently under the direction of an approved MaskDAO proposal. Approved Initiatives Wallets and Future Revenue When a proposal is passed by MaskDAO governance, the approved budget will be moved into a separate wallet. This will allow for full transparency to MaskDAO members, as well as an easier way to monitor revenue generated by each initiative. Approved initiatives can include ecosystem tools, pre-launch artist funding, or other future needs for MaskDAO. Revenue brought in through MaskDAO initiatives will be consolidated into the main treasury wallet on an as needed basis. Liquidity Provider Fee’s Wallet The liquidity mining program fee’s will funnel into one wallet which will be actively managed to consolidate holdings in stablecoins. This is done to avoid exposure to crypto asset volatility while growing the organization. Future decisions for this wallet, and other long term treasury holdings will be voted on through the MaskDAO governance process. MSK Allocation Wallet 5% of the total MSK supply is given to the MaskDAO treasury. This allocation will be used to compensate MaskDAO contributors and potentially fund future initiatives and community incentive programs. Voting Standards and Staking Program
Quorum for MaskDAO decisions will require at least 10% participation of claimed supply. To incentivize governance participation, MSK Staking rewards will be distributed to active voters. To receive rewards, MSK holders will have two options when joining the staking program. (1) Vote individually for full participation rewards, or (2) delegate their MSK to a MaskDAO curator and receive 90% of reward with a 10% fee going towards curators. Rewards from the staking program are vested over a 6-12montth period.
Last modified 10mo ago
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