Unique.One DAO — Proposal for Governance Structure

The Unique.One project was created to be governed by a DAO — Decentralised Autonomous Organisation. The creation of a formal structure for the Unique.One DAO is a journey that will require the blood, sweat, and tears of the volunteering Founding Team.

Before the $RARE token is listed, the Founding Team is proposing the Initial Ratification of Governance Structure for Unique.One to the Unique.One community.

This proposal lays out the journey the Founding Team has committed to travel to arrive at Unique.One DAO.

In this article, we aim to lay out this proposal in simple language so that the Unique.One community understands what they are voting on.

We also give the community instructions on how to vote on this proposal and those following, and how to make proposals to the Founding Team.

But first, what is DAO?

What is a DAO?

DAO is a potent component of governance in a decentralised system. It is, in essence, a collective decision-making system that has the added capability of changing the parameters of a decentralised project.

Once a DAO is fully deployed, the DAO becomes independent of its scaffolding creators (the Founding Team). There is no hierarchical structure but for the code itself. This means it can’t be manipulated by any single entity. It can only carry out the desires of its community majority as defined by consensus protocol and/or smart contract.

Unique.One DAO Initial Governance Structure

There will be three distinct phases building up to the Unique.One DAO — Pre-launch, Launch, and Year 1.

The Founding Team will nurture the project throughout these three phases.

The Unique.One DAO becomes independent of its Founding Team from the beginning of Year 2 onwards.

Pre-Launch Phase

During the Pre-Launch phase, the voluntary Founding Team establishes the strategic plan to gather resources to build the platform.

Unique is being built by a team of anon artists, developers, designers, marketers, and project managers with deep involvement and experience in the crypto space.

This decentralised team is responsible for technical, marketing, partnerships, community management, listings, operations, and accounts.

The objective of this phase is to conduct a successful Mainnet launch with key listings.

Launch Phase

During the Launch Phase, the Founding Team executes necessary tasks such as marketing, community management, content creation, listing, artist outreach, operations, copyright, wallet operations, etc.

This phase aims to establish structure, procedure, and processes to achieve a stable and efficient operation that fulfills the project’s strategic goals towards DAO Governance.

The Founding Team works to support the community’s growth and to ensure that the necessary components of the project are up and running smoothly.

Year 1 Phase

The responsibility for the operation of Unique.One at the beginning of the Year 1 Phase will fall to the Founding Team. The objective will be to achieve a stable and efficient operation within the first year.

The voice of the community will be gathered through feedback in the official Unique.One Community Telegram group.

All proposals are to be made to the Founding Team which will confirm proposals for voting based on the relevance, suitability, and importance of the proposal.

The Founding Team of the Unique.One project is a core committee structure without any leading positions. All decisions that follow the guidelines laid out are executed internally by unanimous vote.

Once the proposal is approved, the proposal will be open to the community for voting.

Any proposal that fundamentally clashes with the heretofore agreed-upon structure of the Unique.One project shall not be allowed to pass without the support of the majority of $RARE token voters.

Discussion on Unique.One DAO Governance

There are a number of interesting DAO platforms out there (notably Aragon), with different benefits and risks. During Year 1 and before Year 2, the community will vote on a suitable DAO platform and a DAO shall be set up with parameters agreed to by the community.

DAO governance will be the main decision-making mechanism for the Unique.One project and shall be imbued with the power to make decisions about all aspects of the project.

At the start of Year 2, the DAO shall decide whether to continue the delegation of duties to the Founding Team.

Through DAO governance, there are possibilities to introduce a variety of forms of governmental structure — which can be proposed and decided by the community in due course.

The community may also choose to amend existing parameters such as:

  • Creation Fees (set to zero at inception)
  • Platform Fees (set to 1% at inception)
  • Resale Fees (set to zero at inception)
  • Royalty Fees for Creators (set at 10% at inception)

There may even be new parameters adopted should the DAO elect to introduce auctions and/or other services.

The management of DAO $RARE tokens will be through smart contract lock, which will be disbursed according to the $RARE Emission schedule shown below.

How to Vote on the Unique.One DAO Initial Ratification for Governance Structure

Currently, the Unique.One Platform will use Snapshot — an off-chain governance voting platform popular amongst Ethereum DeFi projects — before moving to a DAO governance before the commencement of Year 2:

(i) Potential Governance Proposals that may be of interest to the Unique.One DAO will be discussed on the Unique.One Community Telegram page here;

(ii) When ready to be formally considered by the Unique.One DAO, a Governance Proposal is entered and made available for voting on Governance.Unique.One;

(iii) During the voting period, eligible $RARE holders may vote by connecting their wallet to Governance.Unique.One;

(iv) Eligibility of $RARE to vote on each Governance Proposal is based on a “snapshot” of $RARE account balances on the Ethereum blockchain at a specific block prior to voting.

(v) The official determination is by a simple majority of the $RARE votes.

(vi) There are no requirements for a quorum.

(vii) Voters are only pseudonymously identifiable by their Ethereum address.

(viii) A notice of 24 hours shall be given to the community prior to the voting via newsletter and announcements on official channels.

(ix) The period of voting will be a minimum of 3 days.

Voting for this proposal by $RARE token holders starts 00:00 UTC 18th December 2020 and ends 00:00 UTC 21st December 2020 .

When is the Mainnet launch?

Our official Mainnet launch will be on the 1st January 2021 which coincides directly after the opening of Virtual Winter Comiket 2020 (AirComike2) in Japan.

How to contact Unique.One?

Visit us here Unique.One

Talk to us here Telegram

Follow us here Twitter, Medium, Instagram

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UniqueOne Network

A Substrate-based next-generation NFT application-specific blockchain leveraging Web3.0 interoperability to augment the NFT Evolution.