The Moloch DAO v2 smart contract standard is inherently well suited to facilitate our governance goals by virtue of several features:
Membership is Permissioned
- Membership Admission is Permissioned: Membership for MolochDAO is a permissioned processes which reflects the wisdom of MolochDAO's existing membership. Before new membership proposals are submitted on-chain and voted on, candidates must first be championed by an existing member of the DAO and undergo internal member-driven evaluation where various aspects of their membership are considered: culture fit, expertise, etc...
- Continuing Membership is Permissioned and Community-Policed: For a person to continue being a member of MolochDAO, that person must implicitly have the consent of an economic majority of MolochDAO members. Any member may at any time propose that another member be expelled from the DAO, and if that proposal is approved by sufficient other members, the person will lose their DAO shares and governance rights while receiving (through the mechanism of RageQuit) payment tokens representing their percentage of MolochDAO's property.
Membership shares, although they can potentially be viewed as "tokens" in a loose sense (because they are intangibles with balances tracked on Ethereum), are non-transferable.
Membership Resignation/Reduction is Permissionless
Moloch DAO v2 smart contracts embodies the cypherpunk design principle of "opt-in" and self-sovereign choice, and thus exit from the DAO has been made as easy, trustless and economically riskless as possible. Hence, each DAO member is able to RageQuit at any time with respect to all or any portion of the member's shares and receive payment tokens and claims tokens representing the percentage of the DAO's property to which the member is entitled by virtue of the number of shares the member holds in the DAO.