Rights & Responsibilities of Token Holders

Rights & Responsibilities of Token Holders

a. Token Allocation & Usage:

• Allocation: Each Department, as a structural entity within the Collective, is allocated two governance tokens monthly. These tokens symbolize their ability to introduce changes or proposals.

• Usage Dynamics: If a token is used to introduce a proposal and the proposal fails to pass, the token is 'burned', signifying its one-time use. However, if the proposal garners community support and is passed, the token is retained by the Department, allowing them another opportunity to introduce change. This structure not only rewards constructive contributions but also discourages frivolous or ill-planned proposals.

b. KYC Verification and Voting Power:

• Purpose: KYC (Know Your Customer) verification is a standard in ensuring that every individual has a unique identity within the Collective. This ensures transparency and limits potential manipulation.

• Voting Power: Every verified wallet signifies a unique voice, ensuring that each member has an equal say, preventing disproportionate influence by wealthier or more dominant entities.

c. Administrators' Election & Tenure:

• Election Process: Before an election, potential Administrators have 90 days to interact with the community, presenting their vision, answering queries, and essentially making a case for their selection. This transparent, extended window ensures community members make informed decisions.

• Tenure: Administrators can serve two consecutive terms, preserving fresh perspectives and reducing the risk of power consolidation. However, the system isn’t rigid, allowing Administrators to serve additional non-consecutive terms if the community deems their contribution invaluable.

d. Voting on Departmental Changes & Deviations:

• Proposing Change: If any Department wishes to make changes that aren’t pre-specified in their Direct Operating Agreement, they must present a Governance Proposal.

• Collective Decision: All such changes are then subject to community voting, ensuring that every alteration aligns with the Collective’s broader vision.

The GG Collective's governance model is not just a set of rules; it’s a manifestation of the community's collective will. Each mechanism, from proposal introduction to voting thresholds, is designed to empower members, preserve transparency, and safeguard the Collective’s ethos.