NEAR Digital Collective | Governance Framework | BUIDL Meeting #001

CC: @FritzWorm, @NDC_Comms, @marieke.flament, @blaze, @Psalmy

Hey NEAR Community,

we just had the first GOV-FW meeting to brainstorm how we can kickstart building the governance framework of the NDC.

We talked about how to start building the framework and came to the conclusion that we should reverse engiNEAR the process first, then start building the first sketch.

Important notes:

According to @illia, we will have 2 Councils Groups that vote on the proposals of the NDC:

1 Token Weight (TW), 1 Reputation Weight (RW)

The idea is to give the RW votes more weight since reputation is built with time and is more valuable and harder to build than buying and holding a stake in tokens.

Also important to mention is the problem we had with the Community DAO, where only 10% of all Members (220+) voted on proposals.

That’s why we think we should implement:
1. Incentives for councils to vote
2. Set a deadline for votes (72,120,168) hours
3. Penalty if the councils do not vote on the proposals in the time allotted

We will use the next meeting to draw the first sketches of what the framework could look like.

Here is the link to our Call: Microsoft OneDrive - Access files anywhere. Create docs with free Office Online.

The next meeting will be scheduled in Discord as before.

Thank you all for attending and looking forward to your feedback!

The future is bright! :crystal_ball: :white_heart: :rocket: