Governance (DAO Operations)
In WONDER DAO, the DAO decides on all matters of DAO operations through an on-chain governance program. Governance Token holders may participate in free discussions about DAO operations at each step of governance. When a topic to be presented as a vote Proposal has been selected at the Temperature check step, it can be put to an on-chain vote. DAO governance consists of the three steps of "Temperature check," "Consensus check,” and "Governance check,” and the voting results are recorded on the blockchain.
How Governance Works
Temperature check
The Temperature check step is where Off-chain responses to a topic are checked before the topic is put to an on-chain vote.
Consensus check
Once a topic is selected as a voting proposal, DAO members can put the topic to an on-chain vote. DAO members reach an on-chain consensus at the “Consensus check” step through a vote, and afterwards it proceeds to the final “Governance check” step.
Governance Proposal
A proposal that has passed in the step before this step proceeds to the final step, which is where it is put to an on-chain vote. The pass requirements for the “Governance check” step is generally higher than that of the step before this. In cases of proposals for the changing of required values in smart contracts, once they pass the final step, the contents are applied to the Contracts.
Governance Operation Requirements
A proposal passes the Temperature check and may proceed to the next step, when it fulfills the requirement of having as much as, or more than, 5% of all Governance Tokens over a 3 day period, and reach a majority agreement. The on-chain voting steps of Consensus check and Governance check have requirements such as quorums and voting periods for each step. Each requirement may be adjusted by DAO governance.
Type of Proposals Supported in Governance
Use Treasury Funds: Proposals about using the DAO Reserve Fund
Distribution Ratio of DAO Profit: Changing the distribution ratio of the PMR to the Incinerator Fund and the Treasury Reserve Fund
Change Buybacked WONDER Distribution Ratio: Changing the distribution ratio of DAO Tokens buybacked by the Incinerator
Change Governance Settings: Changing governance operation requirements such as conditions for registering proposals, the quorum, voting period, and more
Change Trust Check Settings: Changing the requirements for the processing of urgent proposals presented by the Trust
Misc.: Checking the DAO’s opinions on text proposals
Change Type of Tokens Stored in Treasury: Changing the type of Tokens stored in the DAO Reserve Fund
Re-open Station: Additional recruitment of funds, and additional issuing of DAO Tokens
The extent of support for the proposal may be gradually opened or modified depending on the protocol implementation status.
WONDER DAO System Wallet
WONDER DAO System Wallet executes transactions that apply the results of on-chain governance and the contents of passed proposals to smart contracts. Gas Fees required for these executions are sourced from the WONDER DAO System Wallet, and the remaining balance may be viewed in the WEMIX Explorer. 'Use Treasury Funds' proposal may be used to source DAO`s gas fees from the system wallet.
Address: 0x5EB7c4522484aa729a63a47EDBa83aaF7AcecC1a
Trust Check
The Trust may post governance Proposals for Proposals that require quick decisions by the DAO. The Trust check reflects the will of the DAO with the results of on-chain votes within 24 hours. The period and approval conditions for Trust Check may be decided by DAO governance.
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