⚖️Governance
Dual Organization System
The Organization structure incorporates two entities, a Team, and Orcas (both parts serve their own distinct purposes and are entirely implanted into the long-term vision of the organization)
The Team (an operational service entity) = will be responsible for the organization's daily operations, including maintaining its assets and growing the ecosystem. It also keeps delegated rights over various decisions related to these tasks, such as hiring personnel, determining salaries, providing liquidity to exchanges, marketing, developing tools, and more. Over time, the Team will set up reporting mechanisms to transparently share how funds are being used with the Orcas. When it comes to the liquidation of assets, we will continue to promote a decentralized approach. However, the Team will also have delegated authority to ensure the project will capitalize on short-term opportunities that require quick decisions and executions. For example, the Team can sell assets at their discretion if the monthly sales do not exceed 10% of the entire portfolio value in that vault wallet. Orcas (a community governance entity) = will be the governance entity, governed by the Orcas Token (ORCA). The decision powers of the Orcas can be executed by putting up Orcas Improvement Proposals (OIPs). The outcomes are determined through voting power based on an individual's number of tokens.
Prometheus (elected or appointed) = A total of seven Prometheus will act as a decentralized safety stop for the protocol. Two of these seats are set by the Team, and the remaining five are filled with elected representatives from the DAO as a whole (all stakeholders, in general, are eligible to run). Prometheus serves for 6-month epochs, and there is no limit to the number of consecutive terms a Prometheus can help.
The Improvement Proposals
Every ORCAS NFT holder can open a conversation and gather support for a proposed idea they would like to see implemented via an OIP. These discussions will be held on a dedicated discord channel. An example of a proposal could be voting for an additional council member, adopting a new project, or investing in a new NFT collection. DAO workplace: https://peerme.io/peerings/orcasgg The overview process from idea to proposal looks as follows:
An end-to-end process diagram will be published once we have the final form of OIPs and votes system.
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