<aside> 🎉 NOTE: *We refer to metagovernance as RabbitHole’s active participation in governance activities of the protocols with which we partner.
The governance of the eventual RabbitHole DAO is distinct from our current efforts, but will become a workstream within this pod over time.*
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As RabbitHole works towards becoming a DAO, we’re committed to involving our community in the progressive decentralization process as early as possible. Accordingly, we’re inviting our community to help shape our involvement in metagovernance from the earliest stages of experimentation.
The first step of this process was a brainstorming session to collect feedback from our community about why and how you want to be involved. The next step was to circulate our high level strategy and proposed pod structure for v0. We then hosted a series of community calls to incorporate more community feedback. We hope this final v0 proposal reflects your input.
v0 of our Metagovernance Pod will run for 12 weeks, from January 10th - April 1st, at which point, the strategy & structure of the pod will be re-evaluated based on learnings, further feedback, and more community input. If we didn’t get it quite right this time, we’ll make changes in v1. We expect to take 3-4 weeks between v0 and v1 to work with the community to create the charter for v1.
Metagovernance is reflective of the positive-sum ethos of web3. Web3 is permissionless, open source, and composable. The innovations of one protocol result in further innovation across the ecosystem and a history of grant funding has created a culture of paying it forward. ****Through the practice of metagovernance, the success of one protocol becomes increasingly tied to the success of many as we collectively participate in the industry’s development.
Metagovernance will be an important job in the future of web3 work. Participating in protocol governance will be a core skill set in the future web3 economy as more and more business and investment functions occur via transparent governance forums.
RabbitHole holds tokens for all protocols with which we partner. Our diversified treasury presents us with a unique opportunity to promote our values throughout the web3 ecosystem via active governance.
We believe this creates a positive-sum equation whereby the more successful RabbitHole becomes, the more successful the protocols we partner with become.
RabbitHole’s values are:
Governance is dominated by investors, whales, and protocols voting in their best interests. These interests may be distinct from the best interests of everyday users.
RabbitHole has a unique opportunity to represent the voice of everyday users, which is valuable to both users and protocols. At the same time, we must also represent the best interests of our partner protocols, resulting in a dual mandate. We can also further our mission of guiding people through web3 by educating more people about governance and its importance to the crypto ecosystem.