🃏President of the Club
Divergent Club will introduce a new and innovative participative feature to MultiversX ecosystem : the President of the Club.
The objective of this feature is to give innovative club members the opportunity not only to share ideas of development for the Club, but to implement it themselves.
We are building a true governance where people chose their leader for a limited period of time based on its proposal and they maintain the control on what is being done by approving every proposal made during the mandate. (by opposition to most of the other DAO where people don't have any real decision power).
What to expect
The Divergent Club team believes that a successful governance system depends on the active participation and cooperation of all three parties involved:
Divergent holders, who use their voting rights to ensure that there are no instances of embezzlement or negligence
The elected President of the club, who acts in the best interests of the community
The Divergent Club team, as the election commission, which monitors the electoral process.
As part of this system, 25% of the royalties from the sale of Divergent NFTs in the secondary marketplace will be allocated to the elected President as a "presidential budget," which will be used primarily to benefit the community based on its interests.
The President of the club will receive a predetermined amount of compensation. All candidates running for the position must disclose their budget, including their proposed compensation, in their campaign materials.
The Divergent Club team is confident that this election system will provide a meaningful opportunity for implementing a decentralized autonomous organization, where members have the ability to make real decisions and hold their leaders accountable.
The President of the club election
Every three months, Divergent holders will have the opportunity to participate in the election of a new President.
The chosen President will then appoint a Vice President to join them in leading the community. Together, the President and Vice President will work to make decisions about how to effectively manage and improve the community benefits.
These representatives will communicate with the Divergent team to collaborate on initiatives and projects. Additionally, the representatives will be responsible for managing part of the official Divergent Discord and will receive bi-weekly payments as part of the presidential budget. Further details on these responsibilities and privileges will be provided.
Presidential Budget
The elected President of the community will receive a budget equivalent to 25% of the royalties on all the Divergent NFTs traded on secondary market platforms such as XOXNO, Dreadrare, and Frame it over the previous two weeks.
The first payment will be made on the day of the President's inauguration and subsequent payments will be made every two weeks thereafter.
For example, if the office term begins on March 2nd and the weekly trading volume of Divergent NFTs in the period from February 16th to March 1st is 150 EGLD, the expected bi-weekly presidential budget will be 7.5 EGLD.
In addition, the President will be given a starting budget of 10 EGLD.
The President has the authority to use this budget as they see fit, but any significant misuse of funds may result in impeachment and all proposals must be approved by the community through a vote.
To safeguard against potential abuse, the Divergent Team will act as the financial custodian and carry out proposals that have been voted on and approved with the President funds.
Election regulations
The purpose of this regulation is to establish the rules for the election of the President of the Club.
The election commission, made up of the team members of the Divergent Club, will oversee and facilitate the election process but will not get involved in any conflicts between candidates or the election itself.
Qualification
To be eligible to run as a candidate, a person must hold a minimum number of votes.
We are currently deciding whether one NFT will equal one vote or if the rarity of the NFT will affect the number of votes it is worth.
Registration period
The registration period for candidates ends two weeks before the election day, and candidates may withdraw from the election before it begins.
However, once the election starts, candidates may not resign.
Team up
Candidates may form a team with other members & supporters who share their vision for the club during the election period and will have a dedicated channel on the official Discord to discuss their strategies.
These teams will be disbanded on inauguration day, and there will be no active teams after the election.
Election process
The president will be elected through a ballot system, with the candidate receiving the most votes declared the winner & President of the club.
In the event of a tie, a re-election will be held.
If there are no candidates or only one candidate, the following will occur:
if there are no candidates, the president's position will be left vacant and a re-election will be held after 14 days (with the royalties accumulated during the vacancy period being given to the next president)
if there is only one candidate, they will automatically become the president.
Number of voting
There are two proposed options for the number of voting rights for NFT holders:
Option A, which grants one vote per NFT held
Option B, which assigns a varying number of votes based on the rarity of the NFT.
For exemple, in option B we could imaginate something like that :
common = 1 vote power
uncommon = 2 vote power
rare = 3 vote power
epic = 4 vote power
legendary = 5 vote power
1/1 = 10 vote power
Voting rights
Voting rights are granted exclusively to NFT holders and allow them to initiate an impeachment poll.
The NFT holder who initiates the impeachment must publicly disclose their reason for doing so (at least 150 words on Discord).
The election commission will review the reason for impeachment and, if it is deemed legitimate, the impeachment poll will take place.
If two-thirds of the voters participating in the poll vote for impeachment, both the president and vice president will be impeached immediately. If the impeachment is rejected, the NFT holder who initiated it may not do so again until a new president is elected. The impeachment right may only be exercised once a month.
External issues
For any issues not covered in these regulations, the election committee will conduct an internal review and update the regulations as needed.
A system without rules is chaotic, a system with one absolute ruler is tyrannical, Divergent made a system where everyone can rule.
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