OpenBloxDAO is a group of community members working together to build a sustainable future. They reward projects and communities that create or sustain common good. The OpenBloxDAO is fully governed by OBX token holders through voting escrow.
OBX: Governance is critical to the decentralization and autonomy of the OpenBlox platform. Governance determines all OBX network incentives, including new project development, investment expansion, token economics, and allocation of emissions to stablecoin liquidity providers.
Active contributors provide excellent ideas to be recognized by DAO members. When these ideas are realized and earned, all members of DAO will be rewarded, and the proposer will obviously get more rewards.
OpenBloxDAO adopts Token-weighted Quorum Voting: passing a proposal requires a certain percentage of votes to pass the proposal.
The OpenBlox committee is committed to supporting the growth, development, and sustainability of the DAO to support the growth of the OpenBlox platform. Their efforts will include:
- Community-led initiatives, including funding for contributors
- Partnerships with other cryptocurrency organizations
- Marketing and communications plan
- OpenBlox project daily operation and maintenance
- New project launch
- Token economics adjustments
- Executive supervision
- Rights protection implementation
Voting may require multi-signature voting on the DAO or some of its content. A multi-signature signed by a community council responsible for signing on behalf of OBX holders and must strictly abide by any instructions given through the governance process.
The OpenBlox Committee oversees the management of the governance process to ensure that OBX holders can better participate in the governance of DAO. Their responsibilities include:
- Reviewing governance proposals to ensure they are effectively submitted and voted on
- Removing proposals that are fraudulent, spam-oriented, defamatory, hateful, or otherwise inappropriate or inconsistent with our collective values
- Monitoring votes, voting power, voteable token supply, and voting cycle to determine if quorum and approval thresholds are met or accurately reflected
- Reviewing conflicting proposals
- Network maintenance management
- Other matters considered by the OBX Committee to be relevant to the above.
After receiving an approved proposal, the OBX committee determines whether the proposal is safe, secure, and fits the purpose of the collective. And whether it can be implemented in a legal and compliant manner.
If it meets these criteria, the foundation will use commercially reasonable means to facilitate its implementation.
If not, the foundation may, at its sole discretion, delete resubmitted proposals or make proposals implemented under certain safeguards, and explain to DAO members why proposals were rejected or restricted.
The OBX committee will undertake part of the work in the initial stage and gradually disperse over time.