TOADAO Governance Structure

Laying the foundation for a stronger ecosystem project.

TOADAO Rules and Procedures

This article lays out the procedures for TOADAO proposals and voting. All future DAO decisions will be conducted by an on-chain Snapshot vote. If you’re a TOAD holder and you’ve yet to join TOADAO, please do so at

https://snapshot.org/#/link-toads.eth

.

For an added layer of protection, participating in TOADAO votes will require a very lightly stamped Gitcoin Passport (with Discord account connected). Setting up a Passport is a matter of only a few minutes. You can do so at

http://passport.gitcoin.co

Be sure that you set up your account using your voting wallet (that is, the wallet containing your TOADs).

In order to allow for true community participation in TOADAO – a system in which every community member has a vote, and in which votes cannot be decided by a small minority – votes will be conducted on a one-vote-per-wallet basis. This should not be interpreted as a lack of appreciation for holders of large numbers of TOADs. TOADAO is intended to provide maximum value to the LTOAD ecosystem.

As with everything LTOADs, TOADAO procedure will be a living system determined by community input. All DAO members may propose changes in procedure to be discussed and voted upon by the HODLers.

Now, for the TOADAO constitution:

Goal: To provide an effective, inclusive, and safe community governance vehicle for the LTOADs.

All aspects of the process prior to voting will take place on LTOADs Discord (http://discord.gg/ltoadnft) to provide a single place for community discussion on such.

Proposals

Any TOADAO member may create a governance proposal.

1. TOADAO members may create a proposal using the Proposals channel on Discord.

2. The LTOAD Generals will curate the proposal in a timely manner (< 48 hours).

   1. This process is intended to serve as a bulwark against malicious and/or spammy proposals.

   2. In practice, the vast majority of proposals will see no modification.

3. The Generals will return the proposal (if applicable) for discussion.

Discussion

All proposals will be discussed for a set period before being sent for a vote.

1. The outset of the discussion period for a proposal will be immediately announced to the TOAD-holding community on LTOADs Discord.

2. Discussion will be held in a distinct channel on LTOADs Discord, using forum format for maximum persistence of talking points

3. Discussion will be held for a set period, depending upon type:

   1. Proposals concerning team salaries or repayments or financial commitments which will utilize equal to or greater than $7,777.77 of treasury funds: 120 hours (five days)

   2. All other proposals: 72 hours (three days)

Voting

All voting will take place on-chain using Snapshot

1. The outset of voting will take place immediately at the conclusion of the prescribed discussion period.

2. The outset of voting will be immediately announced to the TOAD-holding community on LTOADs Discord.

3. Discussion will remain open during the voting period.

4. The voting period for all proposals will last 48 hours.

5. All votes will require a quorum of 20 participants or 20% of the total population eligible to vote, whichever is less.

6. Any votes which fail to reach the aforementioned quorum within the voting period will automatically fail.

7. The following thresholds must be reached for a vote to succeed:

   1. Proposals which will utilize equal to or greater than $7,777.77 of treasury funds: two-thirds plus one

   2. All other proposals: a simple majority

Execution

1. In the event of a successful vote, the LTOADs team will execute upon the directive in as timely a manner as possible and with maximum transparency to the TOAD-holding community.

   1. All transactions using treasury funds will be executed via a 5/9 multisig voted upon by the following Generals:

      • Simon Schwerin (Co-Founder)

      • MDMA (Marketing - Alex & Chas)

      • Mike Post (Community manager)

      • ChainlinkBull (General - postmint)

      • LinkyLeaks (General - Community)

      • Flannel (General - Community)

      • Vijay Pravin (General - bitsCrunch)

      • Slater Heil (General - Blueberry)

      • Pierre Atka (General - Atka)

   2. All transactions and treasury funds will be visible through the treasury wallet at https://app.onchainden.com/safes/eth:0x0abbd6aa43e564bcb5b5d6f48766c927f12da480

2. In the event of a vote which the Generals deem to have likely been compromised in some fashion, the Generals will refer the question back to community discussion to investigate the issue and determine next steps.

Other

1. In the event that a proposal should fail to be passed, that proposal cannot be resubmitted for community consideration for a span of 14 days from the end of the voting period.

2. In the event of an emergency (e.g. a hack happening somewhere), discussion and voting periods can be reduced to 24 hours.

This concludes the guide on DAO rules and procedures. Please remember that the LTOADs are a project run by the community and for the community. If you have concerns, feedback, ideas, or anything else of the sort, please get in touch with the team to have them heard!