It is anticipated that the AmpleSense Decentralized Autonomous Organization (DAO) will play an important role in helping to shape, expand, and accelerate the global elastic finance subsector. Because of this it vital for the organization to operate in a highly transparent and ethical fashion. The bylaws below provide the community with critical information about how the DAO operates, key leadership roles, expectations, and DAO Founder performance requirements. These bylaws were ratified by DAO leadership on October 14, 2020.
The AmpleSense DAO is an Aragon-powered, Open Enterprise entity that shall have the following primary objectives and responsibilities:
The DAO shall not:
However, the DAO may provide input on issues related to Ampleforth protocol governance via channels established by the Ampleforth Foundation.
DAO Founders and Members shall (individually and collectively) operate according to the highest ethical standards, including:
The DAO shall operate in a transparent fashion by:
In general, DAO leadership (Founders and Members) is obligated to ratify proposals and initiatives that have gone through the Idea Incubator and AmpleSense Progress Proposal process and have been approved by the community via voting. Any decision to not ratify a community vote for approval shall be guided by the following considerations:
In order to ensure that projects and initiatives can be properly reviewed and monitored, DAO leadership will determine the AmpleSense Progress Proposal community voting schedule.
Official DAO communications channels are outlets the DAO leadership uses to collectively communicate about the official business of the DAO. The official channels for collective communication shall be:
Official communications shall be solely focused on the following topics:
Official communications shall not focus on:
In all cases, official communications shall not be made without being reviewed and approved by all three DAO Founders.
DAO leadership (Founders and Members) shall not disclose confidential or material nonpublic information about projects, initiatives or activities funded by the DAO, its partners or others associated with or working with the DAO. Note that, depending on severity, revealing confidential or material non-public information may result in a vote for removal from the DAO’s leadership team.
The DAO Founding and leadership team consists of three individuals with primary responsibility in a range of areas including (but not limited to):
DAO Founders are not precluded from engaging in activities outside the DAO. However, they shall be expected to engage in DAO-related business daily or at minimum several times a week. Key Founder DAO management responsibilities include (but are not limited to):
The DAO Treasury shall be managed by DAO Founders (and Members, if seated) according to the following guidelines:
DAO Members are no more than 30 individuals who shall be:
Each class of DAO Member shall be seated as follows:
Being a Founder of the AmpleSense DAO is a significant responsibility, and places Founders in a position of influence and leadership within the Ampleforth and elastic finance ecosystem. As a result all Founders are expected to adhere to the all DAO bylaws — especially those regarding confidential information, communication, transparency, ethics and performance expectations.
If any DAO Founder engages in behavior or activities that contravene these bylaws, they will be subject to the following accountability (and if necessary removal) process from the DAO:
If the Founder engages in behavior that consistently violates the DAO’s bylaws, they will be subject to removal proceedings, which will involve:
Being a Member of the AmpleSense DAO is both a privilege and responsibility. As a result all Members are expected to adhere to all relevant DAO bylaws — especially those regarding confidential information, communication, transparency and ethics.
DAO Members who significantly and consistently contravene DAO bylaws shall be:
If necessary, significant disputes that do not rise to the level of removal from the DAO, but have a significant impact on DAO operations, shall be adjudicated via the dispute resolution process provided by Aragon Courts.
These bylaws were ratified by DAO leadership on October 14, 2020. ModificationsMinor modifications to the bylaws shall not be subject to a ratification vote. Minor modifications include, but are not limited to:
Significant additions or modifications shall require a new approval vote by DAO Founders (and Members, if seated). Significant modifications include, but are not limited to:
In the event that major changes are required, modifications shall be implemented via the following process: