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Governance
The virtual world in your hands Influence Metaegg’s Future
DAO stands for "Decentralized Autonomous Organization". The Metaegg DAO will have the most important smart contracts and assets that make up the Metaegg ecosystem- the LAND Contract, the Estates Contract, Wearables, Content Servers, and the Marketplace. It also owns a substantial purse of MDEFI which allows it to be truly autonomous as well as subsidize various operations and initiatives throughout Metaegg.

Why has the DAO been created? How is it relevant to me?

Metaegg will be the first fully decentralized virtual world. It was always part of the original vision to hand over control to the people who create and play in this virtual space. In short – you, the users. Through the DAO, you are in control of the policies created to determine how the world behaves: for example, what kinds of wearable items are allowed (or disallowed) after the launch of the DAO, moderation of content, LAND policy, and auctions, among others.

How does the DAO work?

The community will propose and vote on policy updates, future LAND auctions, whitelisting of NFT contracts to be allowed inside the World, Builder, and Marketplace, and whatever the community deems relevant. Voting takes place on the Metaegg DAO's governance interface, powered by blockchain.

What kinds of things will you get to determine?

Over the coming year we’ll be scheduling votes to decide on a range of issues, including (but not limited to)
  • Upgrading LAND and Estates to add more features and protocol upgrades
  • Specifics and dates of future LAND auctions.
  • Size of marketplace fees, which are always in MDEFI that gets burnt.
  • Primary sale fees, which are always in MDEFI get burnt.
  • Addition and replacement of community-run content servers.
  • Allocation of MDEFI grants to development efforts.
  • Addition of new wearables to the Metaegg World and Marketplace.
  • Replacing members of the Security Council

Security Advisory Board? What’s that?

The DAO is supported by the Security Advisory Board (SAB). The SAB acts as the guarantor of contract security, tasked with the job of providing a swift response to bug reports. The Board will be able to quickly upgrade the smart contract implementation of the LAND and Estate contracts and replace it with a bug-free version upon receiving a responsible disclosure bug report. All contract updates must be unanimous. Comprising 4 members, the Board will be made up of several expert entities or individuals initially chosen by the Metaegg team and later appointed by the community.

How can SAB members be changed?

Members can be changed by the Metaegg DAO – a vote must be started to remove or install a new member. This is an action that will involve the community using MDEFI. A member of the SAB creates a vote for the community to add or remove a member of the SAB and community members use MDEFI to cast their vote.

How do I elevate a Vote?

Initially, until fraud risk is reduced to its minimum extent possible, votes will only be created and scheduled by the Security Advisory Board (SAB).
Last modified 23d ago
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Why has the DAO been created? How is it relevant to me?
How does the DAO work?
What kinds of things will you get to determine?