Temperature Check - LiqwidDAO Constitution v1

Dewayne · August 17, 2022, 6:42pm

Liqwid-Labs/LiqwidDAO-Constitution/blob/master/LiqwidDAO-Constitution-v01.md

## Constitution of the LiqwidDAO Community Association
### Originally Adopted 15th August, 2022, Cardano Epoch 357

## Preamble
As Liqwid ecosystem participants and builders on the Cardano blockchain, the members of LiqwidDAO pool resources to create this organization that will be of service to our diverse community. Our founding team members consist of highly driven individuals from all corners of the globe, each bringing their unique identities, worldviews and experiences. We build in unison as a team sharing a collective vision to provide the DAO and DeFi products that will allow us to coordinate and transact in a novel web3 model that prioritizes transparency and fairness above all else.

Our team strives to implement the organization's operational model in accordance with the core fundamentals decentralized blockchain networks represent. Our objectives shall be community shaped, our documentation open source, and our outcomes auditable to all. The LiqwidDAO will leverage Agora on-chain governance modules for proposal submission, voting and other community governance actions. The Liqwid Community Discord server (https://discord.com/invite/vZzGHKGz29) is open to all and includes a #gov-discussion and #temp-check channels used to catalyze discussion on specific governance ideas. The LiqwidDAO Governance Forum (https://gov.liqwid.finance/) allows anyone to submit temperature checks and proposals in a more formal setting meant for long form debates and discussions on specific points. The goal of using off-chain governance channels and forums is to build an inclusive system where all individuals who wish to participate in governance have the opportunity, and Agora on-chain governance smart contracts that guarantees that the decision of the majority shall be executed to move the protocol forward. Anyone may join or leave the DAO freely while we collaborate on the development of open source tools that are used by everyone but owned by no one.

In our natural alignment with the ethos behind Cardano's on-chain governance system Project Catalyst, the goal of our organization shall be the same: Provide a safe and lively environment for you to explore the highest potential of human collaboration.

# Article I - Organization

**Section 1.1 - Status.** LiqwidDAO Community Association (referred to in this agreement as "LiqwidDAO") is an unincorporated nonprofit decentralized autonomous organization operating on the Cardano blockchain.

LiqwidDAO is not intended to be, and shall not be deemed to be, a partnership.

**Section 1.2 - Purposes.** LiqwidDAO's core purpose is to build the tools & products that deliver value to both users of the Liqwid protocol and developers building on top of it. Coordinating to innovate on the existing DeFi model and bring more traditional finance and corporate governance products on-chain using Plutus smart contracts as coded agreements accessible by anyone with a Cardano wallet. We feel strongly that decentralized finance primitives represent a level playing field in terms of access to on-chain liquidity and as a result are themselves public goods that must be freely accessible to everyone around the world, always. If traditional financial services were as accessible, transparent, and auditable as on-chain financial services we could all benefit from life in a more equitable world. Consumer and institutional lending and borrowing products could be greatly enhanced by the composability and automation blockchain and smart contract technologies offers.

Our Mission Statement (may be updated via governance): LiqwidDAO is organized as a global cooperative to deploy secure DeFi and governance products and tooling that enforces financial contract parameters and human coordination rules with code as opposed to trust. We seek to introduce novel deterministic tools with open participation and sustainable growth models that don't rely on trusted parties on a cooperative and nonprofit basis.

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Organizational Purpose and Mission Statement:
LiqwidDAO’s core purpose is to build the tools & products that deliver value to both users of the Liqwid protocol and developers building on top of it. Coordinating to innovate on the existing DeFi model and bring more traditional finance and corporate governance products on-chain using Plutus smart contracts as coded agreements accessible by anyone with a Cardano wallet. We feel strongly that decentralized finance primitives represent a level playing field in terms of access to on-chain liquidity and as a result are themselves public goods that must be freely accessible to everyone around the world, always. If traditional financial services were as accessible, transparent, and auditable as on-chain financial services we could all benefit from life in a more equitable world. Consumer and institutional lending and borrowing products could be greatly enhanced by the composability and automation blockchain and smart contract technologies offers.

Our Mission Statement (may be updated via governance): LiqwidDAO is organized as a global cooperative to build DeFi and governance products that validate financial contract parameters and human coordination rules with code as opposed to trust. We seek to introduce novel deterministic tools with open participation and sustainable growth models that don’t rely on trusted parties on a cooperative and nonprofit basis.

Feedback and questions on any part of the Constitution are welcomed!

Should the LiqwidDAO Constitution v1 be enacted by the Liqwid community?

YAE
NAY

0 voters

ccgarant · August 19, 2022, 1:49am

The Constitution looks great. Question I have, what is the requirements of the voting threshold to rev the Constitution? 1/2, 2/3rd’s majority?

sharkdano · August 19, 2022, 9:22am

This should answer your question:

gov.liqwid.finance/t/creation-of-the-liqwiddao-association/708#_Toc111737240

"Voting:
All the votes are performed using the Agora module only, where every LQ tokens is accounted for 1 vote.

Quorum to create a vote are 1% of the circulating supply, and decisions are taken at majority (at least 50.01%) of participants in the vote and a statutory quorum of at least 10% of total token supply.

Circulating supply is determined as the “Amount of LQ tokens issued, minus the amount of LQ tokens held by the Treasury). The treasury is not voting.

Once a vote is initiated, LQ holders have 5 days to vote."

ccgarant · August 20, 2022, 10:40pm

Oh yea, I totally missed that, doing my homework catching up now. Thanks!

ChrisBorders · September 30, 2022, 5:25pm

Section 9.3 - Amendment. This Constitution may be amended by presenting the redlined version of the amendments at a meeting of Members and adopted by a vote or merge request as prescribed in the Handbook. No adoption will be formal until a proposal is passed by a vote of LQ Governance Token Holders in the Designated Smart Contract. A supermajority (75%) vote with two weeks of public notice is required to update this constitution.

Dewayne · September 30, 2022, 5:27pm

Thanks for this clarification, we will update this section before submitting the formal proposal to the community for a vote.