The FMF1 DAO
Hello Cyborgs! Today we are introducing one of our most powerful features for our FMF1 NFTs and community: The FMF1 DAO. DAOs or Decentralized Autonomous Organizations have quickly become bastions of representation for the people across the world of cryptocurrency and blockchain technology. They represent many of the core aspects of decentralization including the power of Web3 to protect the freedoms of individuals from censorship. DAOs restore the power of the people in giving them the right to voice their opinions, contribute their skills and strengths, and the power to decide the path of the communities and projects they participate in. These core concepts that make up a DAO are often adopted completely or in part by a particular project seeking to integrate its community and skilled members in ways that benefit the project as a whole. Today, we detail how we intend to implement this feature in part.
The DAO for CyborgSwap will be integrated in 3 different segments. In a way, it could be seen as a funnel system for new ideas and constructive suggestions of improvement for our platform. The first segment will be implemented through the use of an IDEAS category in our discord server. Consisting of 3 channels, this category will begin the flow of ideas from basic thoughts to formal proposals.
To begin the process of submitting an idea for the DAO, one must first go to the Submit Ideas channel. There you will find a set of instructions to follow. Upon reading and understanding the instructions, click on the button below them and write out your idea in full detail in the pop-up box. Some standard procedures will need to be kept in mind when submitting a suggestion. Before submitting, be sure that you have all the info necessary to properly evaluate your Idea.
For example, simply stating something like “CyborgSwap should hold more frequent AMAs” in your submission will not be enough to warrant further participation in this process. Instead, do some research to include for our Community Manager to evaluate.
Something more substantial such as “It would be great if the team could allocate more time to holding more frequent AMAs. These will help improve communication with the community and can attract more potential members. I noticed on Project A that when they started holding AMAs their community grew double in 3 weeks. I’ve also seen when Project B started holding AMAs every couple weeks that the community engagement became more enthusiastic and the project perception improved resulting in a steady increase of 1000 new discord members and new liquidity flowing into the platform over a month’s time.
After submission, our Community Manager, Forerunner, will evaluate your submission for feasibility and merit for our platform and/or community. There may be some dialogue and discussion that takes place in your ticket with Forerunner to expound on the idea you presented. Afterward, your ticket will be closed and if your idea is one with potential it will be brought to Stage 2 and 3. Do note that similar ideas submitted by different members may be merged into a single idea by Forerunner as needed to prevent congestion in the voting forum.
In Stage 2, ideas vetted through discussion with our Community Manager, will be presented in the Idea Voting channel. Community members may “vote” for an idea they like by reacting with a “thumbs up” emoji and may downvote an idea they dislike with a “thumbs down” emoji. Ideas in the voting channel may be discussed only in the Ideas Discussion channel making up Stage 3. Discussion in this channel can result in an idea being changed or edited to strengthen it, remove weaknesses or pursue a different course with a similar idea.
Once an idea has received due discourse and enough reactions from the community to signal high interest, it will move on to the 2nd Segment of our DAO process. The idea will be taken as stated in Stage 2 after all edits and changes and brought to the CyborgSwap team for discussion. Here the team will debate and converse on the implementation of the proposed idea. The team retains general project and platform development control as well as vision and direction of the platform. Thus, ideas will be discussed on the merits of conforming to the vision for the project as well as feasibility and value of implementation.
If an idea receives approval from the team, our Community Manager will take any suggestions/edits from the team discussions and write up a formal proposal for the FMF1 DAO. This moves the idea into our 3rd and final Segment of the DAO process. The FMF1 DAO consists of 2 channels located in the Grand Prix Lounge: DAO Voting and DAO Discussion. The formal proposal for an idea will be placed in the DAO Voting channel for voting by the FMF1 holders. Each FMF1 counts as a vote so someone with 1 F1 gets 1 vote and someone with 10 F1s gets 10 votes. Discussion of DAO Vote topics can take place specifically in the DAO Discussion channel. This way everyone can speak on the topics and it will be viewable by fellow members for open discussion.
If an idea receives a majority vote of approval from the F1 holders, it will be brought back to the team and added to a worklist for implementation. If an idea is rejected by F1 holders it will be placed on a list of rejected ideas with a general description of why it was rejected. This spreadsheet for tracking ideas approved, rejected, and in the process of implementation will be pinned and available for viewing in the Grand Prix Lounge.
To wrap things up, this feature for CyborgSwap in our discord server will allow for the community to participate in growing and improving the platform. From community suggestions to team discussion to FMF1 DAO approval or rejection, ideas will be filtered, streamlined, and focused to the best and brightest for our project and community. It should be noted that while all ideas are welcome, many ideas will not be a good fit or possible to implement, but we appreciate the effort and time that you put into bringing potential improvements to our attention.Thanks for reading and we look forward to seeing your submissions!
