[SIP-1] Shyft DAO Existence Proposal
This Proposal describes the prospective creation and deployment of the Shyft DAO.
The purpose of the Shyft DAO will be to enable the Shyft community to perpetually expand the Shyft's Network's ecosystem through strategic asset allocation and diversification.
The purpose of this Proposal is to gain authorization from the Shyft Network community for the creation and deployment of the Shyft DAO through the process set out below under "Approval Process".
The Shyft DAO will aim to facilitate perpetual advancement of the Shyft protocol, to enable institutional blockchain adoption in compliance with local and global regulation without users' sacrificing their data privacy or sovereignty.
The Shyft DAO will enable community governance over Shyft DAO assets by allowing community members to make proposals regarding the operation of the Shyft Network, voting on proposals made by other community members, and participating in the deployment of various network systems such as the Shyft staking pool, AMM & Yield Wrap Rewards.
In addition, the Shyft DAO will facilitate community involvement in the implementation of strategic treasury management in order to facilitate Shyft protocol infrastructure expansion, upgrades and ecosystem development in conjunction with curation of strategic grant fundings, and community involvement in the distribution of suitable benefits to the Shyft community.
The Shyft DAO project is expected to be rolled out in 2 phases;
Version 1 in Q1 2022, followed by,
Version 2 in the second half of 2022.
Shyft DAO Version 1
The rationale for a 2 phase approach is to initially facilitate a simple interactive environment in which Shyft community members are;
Introduced to the Shyft DAO,
Empowered to discuss and cast their votes on various community and network related proposals,
Establish a foundation for the subsequent incentive deployments including; the the Shyft staking pool, AMM & Yield Wrap Rewards.
With this approach, Shyft DAO V1 will be simple and use tried-and-true tools such as:
Shyft Forum, to discuss proposals,
Snapshot, to submit and vote on proposals using SHFT token balances on the Ethereum or Shyft L1 blockchain,
Shyft Safe, to enact proposals. At launch, the Shyft Safe implementation will rely on 7 signers - 2 members of Shyft Core elected by Shyft Core, 2 members of the Shyft Federation elected by the Shyft Federation and 3 members of the Shyft Community elected by the Shyft Community. Community members wishing to change the number or composition of the signers' implementation may submit a proposal to the Shyft DAO.
At launch, or in some cases following launch, the Shyft DAO will be comprised of 6 committees;
- Governance Committee
- Treasury & Economics Committee
- Technology Development Committee
- Marketing & Community Committee
- Operations Committee
- Ecosystem Business Development and Partnership Committee
Shyft DAO Committees:
The following sets out the DAO committees and their intended respective roles at launch:
Governance & Oversight Committee:
- Maintain the governance procedures via Shyft DAO Charter
- Review of proposals (SIPs, DAO proposals, grant proposals, etc.) in close collaboration with the DAO members and relevant DAO Committees using the discussion forum
- Facilitate feedback on governance-related questions and issues
Treasury & Economics Committee:
- Manage treasury and asset allocation
- Complete financial analysis and formulate strategies
- Design the Shyft Network economic drivers
- Perform Financial audit and reporting
- Review of proposals that involve disbursements of assets or changes to economics
Technology Development Committee:
- Further the strategic development of the Shyft Network
- Curate technology development proposals
- Design bug bounty programs
- Ignite and grow the Shyft developer community
- Review of proposals that involve changes to code or technology
Marketing and Community Committee:
- Develop various community-oriented initiatives such as the Shyft ambassador program
- Ensure awareness of various bounty programs in cooperation with the Technology Committee
- Organize community outreach, including updates, structure, build and write reports, regular discussions, etc.
- Facilitate the creation and publication of content, announcements, regular live AMAs, hackathons, blogs and ideas
- Sets overall KPIs for the Shyft DAO
- Sets the goals, milestones and channels within each DAO Committee
- Propose the creation of additional Committees, as required
- Develop and manage proposals (SIPs, DAO proposals, grant proposals, etc.) in close collaboration with the DAO members and relevant DAO Committees using the discussion forum
Ecosystem Business Development & Partnership Committee:
- Identify and establish strategic partnerships that further expand Shyft Network's use cases
- Outreach and liaise with 3rd party developers to encourage their development on the Shyft Network
- Gather market intelligence and communicate insights to the relevant Committee(s) for strategic use case development
At launch, each committee will be populated with members of the Shyft Federation. Their initial focus will be to document and share their mandate as well as build a plan to include new members outside of the Shyft Federation.
Furthemore, shortly after the launch of the Shyft DAO, the Governance & Oversight Committee is expected to develop the Shyft DAO charter, which is expected to be adopted by the Shyft DAO. The Shyft DAO charter will provide an outline and framework as to how the Shyft DAO and its various committees will be expected to be governed.
Shyft DAO Version 2
Version 2 of the Shyft DAO is intended to achieve further network decentralization while enabling solidification of various Shyft core use cases such as Shyft ID. This updated version is also expected to include a Quadratic voting system and advanced capabilities supported by Shyft ID, which among other features will help protect DAO voting from Sybil attacks.
In addition, Version 2 will involve the expansion of committee participation to include more Shyft community participation.
Shyft DAO expects to provide further details on V2 of Shyft DAO in the coming months.
Participation and Approval Process
Shyft community members will be asked to join the Shyft DAO discord channel on the Shyft discord to discuss their opinions and share their perspectives on various proposals.
Once proposals are approved, they will be posted on the Shyft forum at https://forum.shyft.network/, for Shyft community members to review the specifics of each proposal including its term and duration for voting.
As soon as the voting period begins, Shyft community members will be able to cast their votes on each specific proposal using snapshot at https: https://snapshot.org/#/shyftdao.eth, using "Single Choice Voting '', whereby each voter may select a single choice to give their total voting power to. Below are the steps to participate and have your voice heard:
- Navigate to https: https://snapshot.org/#/shyftdao.eth
- Click Join on the Shyft space
- Connect with your desired wallet
- Sign with the account you want to vote with
- Select the active proposal to vote
- Browse through the proposal and see the options available to cast a vote
- Confirm your vote by clicking on it
- Sign the transaction with the account to complete the process
- You have successfully voted
The feedback process begins now and is expected to end at 18:00 UTC on 23/02/2022. After this, a Snapshot vote is expected to be put up at 19:00 UTC on 23/02/2022 if there is sufficient interest and support for the proposal from the community.
Following the feedback period, the voting period will last for 5 days thereafter (i.e. until 19:00 UTC on 28/02/2022) for the community members to cast their votes.
For: The Shyft DAO will be started as per the existence proposal.
Against: The Shyft DAO will NOT be started.
Edit: Minor cosmetic format changes