Governance Model
FreelancoDAO is a decentralized autonomous organization built on blockchain technology. The governance model for this organization is designed to be transparent, fair, and democratic. Members can join the DAO by purchasing an NFT, which grants them membership and acts as an investment.
Once a member, they can review proposals, comments, and chat history to vote on disputes. This allows for a democratic decision-making process where every member's voice can be heard.
Members participating in the governance process can earn reputation tokens that reward their contributions. These tokens also determine the member's level in the DAO, with higher levels unlocking additional benefits and opportunities.
Ultimately, the reputation tokens play a crucial role in the governance model, as they determine the amount of money a member receives when the DAO proposal is executed. This incentivizes members to actively participate in the governance process and make informed decisions that benefit the organization as a whole.
How to become a member?
FreelancoDAO utilizes NFT membership as a way for members to participate in the governance of the DAO. By owning a DAO NFT, members can vote on proposals, propose new initiatives, and contribute to the DAO. This membership is not only a form of participation but also an investment. Members can profit from their DAO NFT by selling it on the open market.
NFTs are unique digital assets that are verified on the blockchain, making them secure and immutable. As such, they are ideal for use as membership tokens in decentralized organizations like FreelancoDAO. The DAO can verify the ownership of the NFT and allow the holder to participate in its governance. Additionally, since NFTs are easily transferable, members can sell their NFTs if they wish to withdraw their participation or if the value of the NFT has increased.
By utilizing NFT membership, FreelancoDAO can create a more dynamic and inclusive community of members. The DAO can attract members from around the world who may not have had the opportunity to participate in traditional organizations. Furthermore, by offering the potential for profits through the sale of NFTs, FreelancoDAO can incentivize members to participate in its governance actively and contribute to its success.
How does it work?
Proposal Submission: The first step in the voting process is for a client or a freelancer to submit a proposal to the DAO for dispute resolution. This proposal outlines the details of the dispute, the conversation history, and other materials provided by the two parties.
Proposal Review: Once the proposal is submitted, it goes through a review process by the DAO members along with the conversation history between the two parties i.e, the client and the freelancer, which is also used by GPT-4 to make a decision.
Voting Period: After the proposal review, a voting period is initiated. The DAO members are given a set amount of time to vote on the proposal. Each DAO member is given a voting power of 2/3rd, while GPT4 has been given a voting power of 1/3rd algorithmically.
Chainlink Node Interaction: During the voting period, the Chainlink Node interacts with the GovernorContract to cast GPT4's vote. This is automated and is based on the proposal details and the classification conducted by GPT4.
Vote Calculation: Once the voting period is over, the votes are tallied, and the vote outcome is determined. The voices of the DAO members and the vote of GPT4 are combined to determine the outcome.
Execution: Based on the outcome of the vote, the execution is computed. The funds are released to the freelancer or the client if the proposal is approved.
NFT Rewards: Additionally, each DAO member who participated in the vote and matched the successful voice in the decision-making process is rewarded with reputation tokens and NFTs, which can be traded and sold in the open market. This incentivizes DAO members to participate in voting and actively make well-informed decisions.
Treasury
FreelancoDAO utilizes a fee-based treasury system where a 20% fee is charged on both the client's offer and the freelancer's payment, which is then deposited into the treasury. These funds are managed through a proposal system. Any DAO member can propose withdrawing funds from the treasury for a specific purpose. The DAO members then vote on the proposal, and if it passes, the funds are drawn from the treasury and utilized for the proposed definition.
To ensure the funds are only accessible to reputable DAO members, FreelancoDAO uses a reputation NFT (non-fungible token) system. Members can earn a reputation by actively participating in the DAO through voting and proposing initiatives. A member's reputation determines the weight of their vote and the number of funds they can withdraw from the treasury. This system incentivizes active participation and contribution to the DAO community, encouraging members to take an active role in decision-making and ensuring the funds are used for legitimate purposes.
Overall, this treasury system and reputation NFT system help to ensure that the funds in the FreelancoDAO treasury are being used appropriately, with the input and oversight of the DAO members. This creates a trust-minimized and decentralized system where everyone has an equal say in decision-making and the direction of the DAO.
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