Polis Set to Rollout Highly Functional DAO System in Olympus Protocol
In a bid to tackle some of the current challenges such as community inclusion, complete transparency, and organization structure that plagues current Decentralized Autonomous Organizations, DAOs, Polis has proposed a new structure.
The new DAO structure which will be part of its Olympus blockchain will focus on giving power to its community, increased transparency and security, and better arranged organizational tasks.
According to the team, the DAO will be built on five core pillars, each having a community-chosen manager to oversee things. The pillars are technology, community, business, adoption, and marketing. Furthermore, anyone from the Polis community can apply for any of the DAO manager roles. Upon submitting their applications, masternode operators will vote on who should or should not become a manager. Voting is already on and is expected to run until June 25, 2020.
Once elected, managers will be required to submit a proposal to the community, detailing what they intend to achieve during their cycle of leadership (which will last a year). This will include improvement proposals, strategies and timelines to achieve their proposals, as well as members of their team.
Talking about funding, 20% of the monthly emitted coins will be allocated to DAO use. This allocation will further be divided into the following ratio: 10% to DAO areas, 5% to community proposals, and 5% locked for areas over-budget.
The five core pillars of the DAO will receive funding from the 10% allocation to DAO areas. Interestingly, Technology will receive the highest allocation of 30%, while Business, Marketing, and Adoption will each get 20%, and Community will be left with 10%.
Following the expiration of their tenure, managers can choose to be reelected by going through the process again.