RATSDAO has applied the FA 1.2 token standard to the process to yield Staker RATSDAO, a transparent month-long governance cycle where new proposals are presented, discussed, voted on and implemented.
RATSDAO Ops Team posts a proposal on RATSDAO site
Discussion on evaluation of proposal on the RATSDAO discussion forum.
The five RATSDAO Council members vote on the proposal. A quorum of three votes is required to pass a proposal with a simple majority of votes.
If approved, the RATSDAO Ops Team executes the proposal.
By decentralizing project ownership, founders and core team members retain less legal liability and have a more open framework to experiment with. This also alleviates the security risk of centralized keyholders.
Governance rights make it straightforward for any tokenholder to contribute meaningfully to the project they support. No on-boarding or firewall to keep out would-be contributors!
Token holders benefit immediately from their good behavior, as their participation positively impacts the value of their investments.
Ownership of capital raised, pre-launch or otherwise, can be attributed to token holders. This eliminates the possibility of founders running off with the cash