The SPACE ID DAO is a community-driven organization that is governed and controlled by ID token holders. The governance process is designed to ensure fair and transparent decision-making, while empowering the community to manage and control the funds in the DAO treasury. This document outlines the detailed governance process based on the core principles of the SPACE ID DAO.
The governance process of the SPACE ID DAO consists of several steps, starting with the submission of a draft proposal, followed by community review, snapshot voting, and finally, execution of the approved proposal by the operations team. The process is designed to encourage community participation and ensure that the interests of ID token holders are protected.
Any ID token holder who wishes to initiate a proposal must first submit a draft proposal on the SPACE ID governance forum for a temperature check. Please use the DAO proposal template here.
Once the draft proposal is submitted, it will be open for community review and discussion. During this time, ID token holders are encouraged to provide feedback, ask questions, and share their opinions on the proposal. The draft proposal can be revised and updated based on community input to ensure that it addresses any concerns and aligns with the interests of the SPACE ID DAO community. A temperature check period for a draft proposal is 7 days.
After the community review and discussion period has concluded, if the proposal is deemed ready for a vote, the proposer should collaborate with a SPACE ID community manager to schedule a snapshot vote. The community manager will assist in setting up the snapshot vote and communicating the details to the ID token holders.
The snapshot vote is the final decision-making step for proposals. For a DAO proposal to pass, it must receive a minimum of 50% passing votes from wallet addresses holding a total of at least 5,000,000 ID tokens (quorum). ID token holders can cast their votes according to their token holdings during the snapshot voting period. The snapshot voting period lasts for 7 days.
If a proposal passes the snapshot vote, it will be executed by the SPACE ID DAO operation team. If required, funding distribution will be signed by the DAO Treasury’s multi-sig signers, who are elected representatives of the ID token holders.