This post propose principles and workflows so token holders can participate in governing the protocol.
Hectagon aims to be the Decentralized Venture Capital for all retail investors to capture the crypto growth. This vision can only work if every retail investors participate in governing the protocol through both a delegated and direct manner, whatever serve the interest of all Hectagon’s stakeholders.
This proposal layouts core governing principles. It also discuss how to keep the business agility (the level of power centralization) while maximizing the number of token holders join governance process.
- Everyone can have a voice, but not everyone can vote. Only people who sacrificed economic power (e.g: token liquidity) can vote. Thus, only gHECTA, pHECTA and tHECTA holder can vote. However, there are open channels for everyone.
- Everyone can vote, but not everyone wants to make the call hence voting delegation is implemented. Everyone is informed enough to choose their delegation thus there is no restriction imposed on delegation.
- By asking less of voters (and less from a voter), Hectagon empowers everyone more by channeling and focusing their activity in a bid to encourage participation and prevent concentrated interest group from capturing the system. Token holders will vote to choose an operation team running Hectagon on their behalf.
Each role is a multisig address and the signer of each multisig must pass on-chain vote:
- Governor x 1: This role can change address of other role and set protocol’s core parameters.
- Policy x 1: This role is responsible for accomplishing the treasury target through selling HECTA and changing staking rate.
- Guardian x 1: This role is responsible for moving funds and protecting the use of Treasury.
- Investment Committee x 7: This role is responsible for the final decision to all investment decision.
The following (sub) roles does not need community approval but assigned by Governor and the number of people is dependent on the workload:
- Investment Associate: This role is responsible for facilitating the Investment process.
- Campaign Management Team: This role is responsible for managing the usage of community reward pool.
- Mods: This role is responsible for managing community and facilitating DAO activity.
Everyone can post a suggestion in #community-suggestion. If a suggestion is getting popular, a mod can spin it into a proposal or campaign and post it into the respective channel (#proposal or #campaign).
Posts in #proposal can be vote by anyone for an opinion vote. If a post is passed opinion vote then an on-chain proposal will be made in Snapshot.
Posts in #campaign can only be voted by Campaign Management Team.
All proposal that pass the vote will be enforced by the operation team.
Discord is reserved for everyone to discuss and mod will pick the popular opinion in Discord into respective #campaign or #proposal thread in Forum.
Only operation team can create Snapshot proposal and only gHECTA, pHECTA and tHECTA holder can vote. If the operation team go rouge and block a legitimate on-chain proposal, any address with more than 10% of voting power can pass the team and make an on-chain proposal.
- Investment Portal:
Investment Associate team will scan deals coming from community. They will work with potential projects to collect further information. They will organize popular vote as well as Investment Committee vote.
In summary, token holders can make proposal on anything. Token holders delegate an operation team to work for them on:
- Investment process
- Managing the community reward pool
Token holders can change any position on operation team at anytime through a proposal.
Comment starts now and will be closed within 7 days.
The polling process begins after comment ends and will end 3 days afterward.
After this, a vote on-chain will be put up within 48 hour (or within 24hr of TGE event, whichever happens last).