To participate in Lion DAO governance (voting), you must hold 10 LION tokens in your non-custodial wallet like Metamask. Please follow the directions here to get started. As a DAO, Blockchain@Columbia members are able to use their wallets (e.g., Metamask) to vote for different proposals. These votes are conducted “offchain,” meaning that we are not sending a transaction on the blockchain (Ethereum in this case) to vote, but are instead just signing our vote in our wallet. While these votes are not as secure as if they were done “onchain,” where our vote would send a transaction on Ethereum that would then have to be mined, we are still able to verify who casted each vote by looking at your wallet’s signature. This is a great opportunity for all members, especially those new to the blockchain space, to participate in a DAO, use a non-custodial wallet (you have complete control over your assets), and push the forefront of decentralized governance.
Creating Proposals and Voting
- Any member of Lion DAO can create Snapshot proposals, and we especially encourage current members to do so.
- Proposal discussion should primarily be held on our Commonwealth page, which offers numerous benefits like being able to upvote discussions, see a list of Lion DAO members, etc.
- There should be at least 1 community call per proposal organized on Twitter Spaces or in our discord.
- Voting periods should last at least a week to give the proposer adequate time to advertise the proposal, and discuss and engage with other members of the DAO.
- Proposals should be for important decisions like treasury expenditure/diversification, grant allocation, etc.
- Ideally, most proposals should include multiple alternatives to what is being proposed (i.e., not single choice voting) to make governance as productive as possible: i.e., not just purely yes or no votes.
- A minimum of 20% of all LION holders need to vote for the vote to be considered valid and a majority of the voting holders is required for any proposal to pass. One exception is if there is a vote to dissolve the DAO. This would require ⅔ majority to pass.
- To help correct the voting imbalance between students and crowdfund contributors, all current students will be added by the current president to a whitelist to give them 100x the voting power. This whitelist will be updated every semester.
- Assets in the Lion DAO treasury and delegated voting rights for various protocols will be held by a Gnosis Safe multisig (0xdD24e3EBbB0c326D95c8e4Af31Df3cB9022537e5) with the following signatories: current President Alex Toberoff, former President Nir Kabessa, Vice President Adrian Zembsch, Treasurer Terry Chung, and Vice President Quintus Kilbourn. This list is subject to expansion, with a cap of 7 people. New multisig signatories will be nominated by the existing signatories and confirmed by Lion DAO members.
- While our treasury will be primarily denominated in ETH (and stETH), we will allocate a portion (as determined by governance on a semester basis) to be diversified into other crypto assets and keep at least 10% in stablecoins.