Voting

Voting Rights

In order for an investment to be made a proposal must first be passed so that capital may be released from the DAO treasury. Proposals are passed by means of a vote. Voting weight on Snapshot is based on the total number of OWN tokens held by each member's Ethereum account.

The percentage of the total supply of OWN tokens that need to participate in a vote for it to be considered valid (quorum) is dependent upon the amount of the investment. For example:

• A 50,000 DAI investment proposal might require 30% of OWN tokens to be committed to a vote, with 51% in favor being sufficient to pass it.

• A 250,000 DAI investment, on the other hand, might require 51% of the OWN tokens to be committed to a vote, with potentially a greater passing majority.

Once a vote is passed, a multisig transaction can then be prepared that will fulfill the investment. This multisig smart contract is to be under the authority of several elected members of the fund chosen for their known status lending them credibility and disincentivizing malicious behavior.

Voting Requirements

While quorum implies that it is not necessary for all fund members to vote, it is highly encouraged that they do so once their own due diligence has been carried out on a proposed investment. Not only will voting regularly serve to improve an individual participant's reputation, failure to vote could prompt consideration of the expulsion of a non-participant from the DAO.

Vote Delegation

Temporary vote delegation may be made available but will need to be evaluated to ensure it does not become a long term approach to fund participation.

Non-Investment Votes

Proposals may be made for activities that do not fall within the usual definition of investing. For example, the fund could choose to release positions, remove members, change practices or to designate funds toward sponsorship of events or activities, amongst other things. It is only necessary that a proposal achieve a clear majority during the voting process and attract the participation of the majority of members.