🌅 Overview

BRT holders approved a proposal to change the Bright Moments governance token from an ERC-20 to an ERC-721 token. As part of that conversion, the DAO needs a new governance model that allows 10,000 CryptoCitizens to collectively manage the organization and operations of the DAO.

🤚 Context

• Bright Moments governance was originally denominated as an ERC-20 token called BRT.
• BRT was used to vote on several off-chain governance proposals using Snapshot.
• The CryptoCitizen community has used Mirror’s token race feature to conduct off-chain voting for CryptoNewYorker nominations using ERC-721 tokens.
  • We’ve experienced issues with vote buying, specifically in situations where there is a financial incentive to do so (e.g. CryptoNewYorker nominations).
• Many of the core operating team’s day-to-day decisions are fuzzy or not well suited to a formal voting mechanism (e.g. what venue should we choose / what vendors to contract with).
• Bright Moments is legally represented by a Wyoming LLC. There is also an operating company based in New York that is used to fund fiat expenses (e.g. rent).
• Bright Moments has a high burn rate (~200 ETH / month).

⚠️ Constraints

• The voting system must support an ERC-721 governance token.
• Our CryptoCitizen NFTs are distributed across two smart contracts which need to function within a united governance mechanism:
  • Art Blocks: 0xa7d8d9ef8d8ce8992df33d8b8cf4aebabd5bd270
  • CryptoCitizens: 0xbdde08bd57e5c9fd563ee7ac61618cb2ecdc0ce0
• CryptoCitizens are constituted of many cities (and soon to be countries!), each of which will have distinct values and opinions about what to prioritize.
• Bright Moments needs to be able to operate internationally, including setting up off-chain structures that enable the operating team to act on behalf of the DAO (e.g. signing a lease).
• Our use of the PBAB contract includes a 10% royalty fee to Art Blocks on all primary sales.

💭 Assumptions

• There will only ever be 10,000 CryptoCitizens.
• CryptoCitizens are represented by an ERC-721 token.
• All CryptoCitizens have an equal vote in DAO level decisions (i.e. 1 Citizen = 1 Vote).
• CryptoCitizens are split across two contracts with distinct Ethereum addresses and token ranges.