GokuMarket is a DAO, or “Decentralized Autonomous Organization,” which is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts will lay the foundational rules, execute the agreed-upon decisions, and at any point, proposals, voting, and even the very open source code itself can be publicly audited.
Ultimately, GokuMarket will be governed by its members and directors, who collectively make critical decisions about the future of the DAO, such as technical upgrades.
Anyone can become a member of the GokuMarket DAO by pledging GMCs and the top 9 members with the highest pledge GMCs will become Directors. Any members of the DAO will be able to propose a change by using GMC.
Foundation will always consist of up to 21 seats and Foundation members will have a weighted say in the proposals.
GokuMarket DAO Foundation will have a team of up to 21 users representing the foundation team for decision making, governance & revenue sharing. Being a Foundation member will enable you to have a say in the proposal review process. The proposal acceptance is subject to approval conditions, but no proposal will be approved without the Foundation members' review and approval to ensure it follows the right format.
Foundation members will also receive a 5% revenue, while the remaining 95% will be shared among the pledged members.
To become a foundation member, one needs to be nominated by the current members. An internal voting among the existing Foundation members decides the admission or rejection of the new proposed candidate in the Foundation team. If the majority supports the admission of the new member, the user can become a part of the foundation. Similarly, a member can also be impeached from the foundation if the majority member vote against the member. GokuMarket is focused on the future of GMC with the GokuMarket DEX as a non-custodial platform, so there is no liability or responsibility for the foundation members of any of the DAO members funds.
Anyone can become the member of GokuMarket DAO by pledging the GMC. Top 9 pledgers from the DAO members become Directors who remains anonymous. Anyone can pledge GMC to become Directors.
Members & Directors receive the 95% of the revenue collected from DEX. Revenue is distributed in the same percent proportion in which the member has pledged GMC.
All the pledged users of the GokuMarket DAO are eligible to vote on the proposals. Any proposal should have a minimum of 5 foundation member votes (apart from the set Acceptance Criteria) for a proposal to pass.