The EntryDAO Constitution
To be ratified by the community at launch
Preamble
We, the members of EntryDAO (“the DAO”), hereby establish this constitution as the guiding document for the governance of the EntryPoint blockchain. Through an on-chain system of proposals and voting, holders of $ENTRY can, as members of the DAO and EntryPoint community, actively participate in the governance and growth of EntryPoint. The DAO is founded upon a set of core values and guiding principles that shape its decision-making, operations, and interactions with the community, stakeholders, and partners. Upholding these values and principles is fundamental to achieving the DAO's mission of developing sustainable public infrastructure, innovative products and governance for the decentralised communities of Web3.
Vision Statement
To enable safe, easy, and decentralised participation in the tokenised economy for all.
Mission Statement
To develop sustainable public infrastructure, innovative products and governance for the decentralised communities of Web3.
Core Values and Principles
Community and Collaboration
The essence of the DAO is an inclusive, diverse group of members who unite under shared values and work together to pursue a common mission. Having meaningful and constructive public dialogue with an open-minded attitude remains central to this endeavour. By fostering open dialogue and respectful positive interactions, diverse perspectives can be leveraged for collective knowledge while supporting effective collaboration and a strong sense of community.
Longevity and Sustainable Decentralisation
Longevity serves to address the short-termism that has become so characteristic of modern society, taking a long-term approach to development supported by sustainable decentralisation that seeks to balance distributed governance with operational efficiency. This approach enhances the DAO's adaptability and resilience while ensuring members remain empowered in decision-making, allowing it to support long-term growth and success while meeting the evolving needs of the community.
Professionalism and Member Empowerment
While members of the DAO are expected to uphold a professional and respectable standard of conduct amongst each other and in contact with all stakeholders, the DAO should likewise strive to nurture a culture that supports the professional growth of its members. By cultivating a professional environment that values learning and support, the DAO paves the way for enduring progress with a great reputation and utmost credibility.
Innovation and Efficiency
Innovation, as a driver of continuous improvement, works hand-in-hand with efficiency, facilitating the exploration of emerging technologies, tools, and strategies to optimise operations and resource management while maximising impact and effectiveness. The DAO should always keep an open mind in welcoming change and experimentation as the blockchain space develops, and continuously strive to add additional value for its users and the communities that it serves.
Transparency and Security
Transparency, a fundamental aspect of trust and accountability, is closely connected with security to provide members with a clear understanding of the DAO's activities and decisions. By prioritising transparent operations and robust security by design, the DAO serves to protect members, stakeholders, and the EntryPoint protocol itself, while also fostering a community of trust and confidence.
Sovereignty and Democracy
Operating autonomously and upholding self-governance, the sovereignty of the DAO and EntryPoint protocol works to reinforce democracy by ensuring decisions are based solely on member consensus. This serves to safeguard the community from undue external influence, and likewise instils a sense of shared ownership and responsibility, contributing to the alignment of the DAO’s vision and goals.
Governance Rights and Decision-making
The EntryDAO constitution enshrines the governance rights of its members, ensuring that decisions are made democratically and in the interest of both the community and EntryPoint blockchain. These rights are divided into two main categories, corresponding to the two primary governance groups within the EntryDAO: holders of the $ENTRY token and the Technical Committee.
$ENTRY token holders:
Holders of the $ENTRY token have the right to participate and vote in the management of the EntryPoint blockchain as part of the EntryDAO community. This right includes:
The right to vote on the strategic direction of EntryPoint as well as technical operational decisions regarding the blockchain, such as chain upgrades and various fine-tuning.
The right to collectively manage the treasury and revenue generated by EntryPoint, including allocating funds for development, marketing campaigns, incentivisation schemes, among other things.
The right to vote on issues related to index vault management, such as token composition, weighting, strategic adjustments, ongoing rebalancing etc; and are responsible for whitelisting tokens, and to ensure proper due diligence and risk minimisation in the creation and maintenance of EntryPoint’s index vaults.
The right to committee management, which includes electing committees to handle various aspects of the blockchain, defining their remits, monitoring their work, and ensuring appropriate intervention, including the removal of members, if committees abuse their power or fail to deliver on community expectations.
Any EntryDAO community member holding $ENTRY can submit a proposal to the EntryPoint network for community review.
Members of the community should always have the opportunity to review, deliberate and give feedback to any standard governance proposal before it proceeds to a vote on-chain.
The community is responsible for evaluating proposal adherence to format, relevance, and feasibility while providing feedback and collaborating in the best interest of the DAO and EntryPoint.
The democratic vote and will of $ENTRY token holders shall remain the ultimate source of power in the governance over EntryPoint.
Technical Committee:
The Technical Committee, elected by the EntryDAO community, is responsible for configuring and maintaining the EntryPoint chain in accordance with the democratic wishes of the community, including setting up the trading and data modules to ensure smooth operation of the vaults, making whitelisted tokens available, and adding price feeds from DEXes.
The Technical Committee is responsible for handling urgent situations that require swift decision-making, such as a token collapse, a hack on a DEX used by the chain, or the failure of core and critical functionality.
The Technical Committee has the authority to pause or resume vault functionality (e.g., deposits, withdrawals, and trading) and chain activity (e.g., local token transfers and IBC transfers) in case of unforeseen events or emergencies that pose a risk to users' funds.
The Technical Committee can never access nor handle user deposits. Funds can be stopped by pausing transfers, but the committee remains unable to move user funds in any way.
Dispute Resolution
EntryDAO recognises that differences of opinions is a natural state of any human social interaction, and so an inevitable part of any democratic process. By acknowledging and accepting dissensus as an opportunity for mutual growth and progress, EntryDAO emphasises the importance of constructive dialogue to leverage the benefits of collective knowledge and decentralised collaboration.
If and when disputes or conflicts were to arise, members of the community are encouraged to lead constructive dialogue, actively listen and collaborate from a perspective of learning and towards beneficial solutions for the DAO and EntryPoint protocol.
If the situation requires, core contributors and members of committees and working groups are encouraged to lead any necessary mediation; to discuss and formulate with the community a united response with recommendations on how to proceed forward.
Alternatively, the community could vote to appoint an arbitration committee or external mediator to resolve the issue in accordance with the constitution's rules and principles.
In cases where a consensus proves unattainable, despite sincere efforts to mediate the situation, EntryDAO relies on the collective wisdom of its community by resorting to a democratic voting process. This ensures that the voices of all members are heard and that decisions are made with the best interests of the entire organisation at heart.
Constitutional Amendments
The constitution shall periodically be reviewed to ensure it remains relevant and aligned with the DAO’s evolving needs and objectives; and any changes to the constitution must be made with the best interests of EntryPoint, the DAO and its members in mind.
Any amendments to the EntryDAO constitution requires an on-chain proposal and the consent of a democratic majority of $ENTRY token holders.
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