Summary : I tried to write a more complete constitution, which returns to the definition of the DAO, the values which it recognizes constitutionally and its internal organization.
Rationale :
It is enough for a new PAL holder to read this one to understand the operation and the spirit of the DAO.
Moreover, the Constitution being our supreme “law”, I think it is important that it be as complete as possible in order to legitimize the internal functioning.
Many things are to be discussed, I only inserted a few ideas.
My English not being perfect I used google translation, so excuse the synthase errors.
Good reading !
CONSTITUTION
TABLE OF CONTENTS
PREAMBLE
TITRE I : GENERAL
ARTICLE 1: Type of structure
ARTICLE 2 : Objectives
ARTICLE 3: Denomination
ARTICLE 4: Official documents
ARTICLE 5 : Tokeneconomics
ARTICLE 6 : Obligation to respect constitutional principles
ARTICLE 7 : Amendments to this constitution
TITRE II : GOVERNANCE
Note :
ARTICLE 8 : Voting
ARTICLE 9 : Governance proposal
ARTICLE 10 : Rights and obligations attached to tokens
ARTICLE 11 : Delegation, token loan
ARTICLE 12 : Right to information
ARTICLE 13 : Annual Assembly
ARTICLE 14 : Security Committee
ARTICLE 15 : Strategic Committee
ARTICLE 16 : Editorial Committee
ARTICLE 17 : Remuneration
ARTICLE 18: Committee NFTs
TITRE III: CONSTITUTIONAL PRINCIPLES
ARTICLE 19: Hierarchy of standards
ARTICLE 20: Neutrality
ARTICLE 21: Pseudonymity
ARTICLE 22: Transparency
ARTICLE 23: Financing
ARTICLE 24: Decentralization
ARTICLE 25: Dignity
ARTICLE 26: Freedom of thought, conscience and expression
ARTICLE 27: Prohibition of discrimination
ARTICLE 28: Property Protection
PREAMBLE
The management of decentralized protocols broadly follows the vision of choosing “cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.” By replacing trust with algorithmic control in key parts of organisational structures we should be able to exponentially increase coordination and solve numerous mediation problems. This is the theory that has allowed the DAO to appear, and many other decentralized organisations subsequently.
Tomorrow the big banks, investment funds will want to seize this market which will weigh billions of satoshi. We absolutely need flawless governance systems.
At Paladin, we are convinced that decentralization enables a new wave of human coordination and we want to give a voice to every user wishing to make use of it. This can be done by reducing friction to participate in governance processes, while adding incentive flywheels to enable large scale coordination of users.
TITRE I : GENERAL
ARTICLE 1: Type of structure.
PALADIN is a DAO, fully permissionless.
DAO means:
- Decentralized = Online, global, uncensorable.
- Autonomous = Self-governing.
- Organization = Coordination & collaboration around shared objectives.
Everything is out in the open and the rules around spending are baked into the DAO via its code.
With the DAO you don’t need to trust anyone else in the group, just the DAO’s code, which is 100% transparent and verifiable by anyone.
The backbone of a DAO is its smart contract. The contract defines the rules of the organization and holds the group’s treasury. No one can change the rules except by a vote. And because the treasury is defined by the smart contract too that means no one can spend the money without the group’s approval either.
This means that DAO don’t need a central authority. Instead, the group makes decisions collectively and payments are authorized automatically when votes pass.
The DAO is controlled the owners of the PAL token (hereinafter PAL holders).
ARTICLE 2 : Objectives
PALADIN’s objectives are :
- Develop decentralized activism.
- Building tools for DAO contributor.
- Enabling minority holder coordination via the governance vortex.
- More generally, research, development and experimentations in decentralized governance.
ARTICLE 3: Denomination
The name of the DAO is PALADIN, it can also be designated by the acronym PAL.
ARTICLE 4: Official documents
The official documents are the doc, this Constitution and the Annual Reports published in accordance with article 16.
Any modification of the official documents requires a vote in this direction of PAL holders.
ARTICLE 5 : Tokeneconomics.
There is fifty million (50 000 000) total supply.
The following graph gives a breakdown of the PAL supply at token genesis.
ARTICLE 6 : Obligation to respect constitutional principles.
The DAO recognizes the principles and freedoms defined in Title III of this Constitution with constitutional value.
ARTICLE 7 : Amendments to this constitution
Any change may be made to this constitution only by at least 20% of all tokens circulating.
TITRE II: GOVERNANCE
Note: Now, governance voting will be conducted through the Paladin Snapshot Space which requires administration.
The admin of the Paladin smart contracts is currently the Core Multisig. It allows updates to some parameters of the system, to mainly to add new PalPools, and/or update modules. These include, but are not limited to, the Delegator used by a PalPool or the Interest Calculator logic.
This system is temporary.
ARTICLE 8: Voting
Sovereignty belongs to the PAL holder.
No section of PAL holders or any individual may claim the exercise thereof.
Are voting, all holders of PAL, enjoying their political rights.
PAL holders meet as often as the interest of the protocol requires.
ARTICLE 9: Governance proposal
To create a proposal in the Space, 5% of circulating PAL delegated to your address is required. Quorum is at 15% circulating supply, except modification of this Constitution which require 20% of the circulating supply (article 7).
Unless expressly stated in the proposal, adoption is by simple majority.
There are several types of governance Proposal:
- Paladin Upgrade Requests (PURe) for addition of new dApps to be managed by the DAO or large modification of the Paladin codebase ;
- Paladin Constitution Modification (PCM) to any proposal needing a Constitution change, these will need a heavier quorum (20% of circulating supply) ;
- Paladin Governance Proposal (PGP) for the other proposals, concerning treasury allocation, parameter change, partnerships…
Every governance proposal will have to be presented in “Formal Proposal Framework” to be considered a valid proposal. This model is detailed in the doc.
ARTICLE 10: Rights and obligations attached to tokens.
Each token gives the right to vote, to participate, to a share proportional to the share of the circulating supply that it represents.
Ownership of a token automatically implies adherence to this Constitution and the rules governing the DAO in particular present in the doc.
ARTICLE 11: Delegation, token loan.
The PAL token includes a Delegation logic. This allows any PAL holder to delegate their voting rights to an address, either to their own address, or another address.
Token loan (including political and financial rights) is authorized.
ARTICLE 12: Right to information
No one can be denied legitimate information.
ARTICLE 13: Annual Assembly.
The Annual Assembly meets at least once a year, during the first two weeks at least of January. The Assembly will take the form of a community call followed by a vote.
The call to the Annual Assembly will be made by the editorial committee (article 16).
This Assembly will have to:
- Get in know the Annual Report (article 16).
- Decides the annual orientations of the DAO (article 16), the DAO will then ensure its implementation in accordance with its interest.
- Decides the outline of the DAO annual budget (article 16)
- Replaces the Security Committee members at the end of their mandate and decides their remuneration (article 14).
- Appoints Strategic Committee members and decides their remuneration (article 15).
- Appoints Editorial Committee members and decides their remuneration (article 16).
- Approve or disapprove the remuneration payment of various committees provided by the previous Annual Assembly (article 17).
The Editorial Committee will be responsible for preparing the proposals necessary for the application of this article.
ARTICLE 14 : Security Committee.
Attributions:
-
In the event of a public emergency threatening the life of the Protocol, the Security Committee may take measures derogating from the obligations provided for in this Convention, to the strict extent that the situation so requires and on the condition that these measures are proportionate.
The Security Committee will have to write an incident report communicated to the DAO.
The DAO approve or disapprove of the Security Committee’s handling of the incident. In the event of disapproval, the DAO may exclude one or more of its members and propose a replacement. -
In the event of non-respect with the Constitution or for acts of fraud or fraud, the committee can be seized by any interested party or seize itself.
The committee will have to carry out an investigation, it will have to write an incident report communicated to the DAO and prepare a vote so that the DAO decides or not the backlist.
The person likely to be blacklisted does not vote.
The committee can take emergency measures pending the vote of the DAO.
Organization:
The Security Committee is composed of six (6) members, PAL holders or not.
Its members are elected during sur Annual Assembly for three (3) years.
The committee is renewed by rotation in such a way that this rotation concerns one third of its members.
As an exception for the needs of rotation during the first appointment, two (2) members will be elected for one (1) year, two others for two (2) years and two last for three (3) years.
In the event of a vacancy by death, resignation or dismissal of a member of the Security Committee, a vote is immediately submitted to the PAL holders who elect replacements for the duration of the terms remaining to run.
Each member of the Security Committee appointed by PAL holders can be removed by them, for just cause.
Members may be remunerated in accordance with Article 16.
ARTICLE 15: Strategic Committee
If for strategic needs an external structure wishes to enter into a business relationship with the DAO, not publicly for staying competitive.
Two (2) strategic representatives will be appointed annually by the Annual Assembly, only authorized to speak in the name and on behalf of the DAO.
However, they are prohibited from making decisions binding the DAO without its consent expressed in a vote. Their mission is strictly assessed.
The committee should inform the DAO as soon as possible of the proposal made to them.
Each member of the Strategic Committee appointed by PAL holders can be removed by them.
Members may be remunerated in accordance with Article 17.
ARTICLE 16 : Editorial Committee
Attributions :
- Prépares the Annual Assembly (article 14).
Set the date, convene the DAO by announcement on the forum, write the Annual Report, make it available to the DAO at least 15 days before the Annual Assembly and prepare the draft proposal which will be discussed by the DAO.
The Annual Report must contain:
- A summary of the past year, all the major decisions and agreements that have been reached.
- Progress in the objectives set at the previous Assembly, on its development.
- Opinions on the smooth running of PALADIN from the most important technical and political contributors.
- A global orientation proposal for the coming year.
- A yearly budget estimate.
- Recall the remuneration provided for by the previous Assembly for the various Committees.
After the Annual Assembly, Annual Report will be published in the doc.
-
Provides assistance to anyone wishing to make a proposal.
-
Proposes a quarterly activity report.
Organization:
The Editorial Committee is composed of three (3) members, PAL holders.
Its members are elected during sur Annual Assembly for one (1) year.
They can get help in their tasks under the conditions they determine. However, they will remain responsible for the fulfillment of their mission about the DAO.
Each member of the Editorial Committee appointed by PAL holders can be removed by them.
Members may be remunerated in accordance with Article 17.
ARTICLE 17: Remuneration.
Interested parties do not vote on their remuneration, even by delegation or token loan.
-
Committee members
A remuneration range is decided a priori during the Annual Assembly (in n), the funds are blocked in a smart contract, the funds are finally released a posteriori by a decision in this sense of the PAL holders during the following Annual Assembly (in n +1).
The DAO reserves the right to suspend the remuneration of the Committees members in the event of dismissal for misconduct and/or failure to perform their duties. -
Other contributors
The DAO may decide to allocate remuneration to a contributor if his proposals/contributions are particularly relevant.
The DAO can also remunerate specific tasks whose remuneration is determinable or determined (this category includes the potential remuneration of developers).
ARTICLE 18: Committee NFTs
Each committee member will receive an NFT, non-transferrable, depending on the committee they are appointed.
The NFTs allocated to members of the Security Committee will allow them to vote on their prerogatives.
TITRE III: CONSTITUTIONAL PRINCIPLES
ARTICLE 19: Hierarchy of standards
The Constitution is the highest fundamental law. The documentation comes next.
The DAO does not recognize any other law.
ARTICLE 20: Neutrality
The DAO will not directly take part in governance proposals with the voting power deposited in its platform. However, the DAO can use loans like any other protocol user.
The Protocol will also refrain from participating in external governance when it does not directly concern itself or its direct participating interests.
ARTICLE 21: Pseudonymity
All members of the DAO and protocol users must go to the best lengths as humanly possible to respect the anonymity / pseudonymity of members.
Members are free to disseminate information about themselves without limits. However, exposing a member’s personal information goes against the ethos of our DAO.
ARTICLE 22: Transparency
Any party shall refrain from hiding conflicts of interest when presenting a proposal in or through the Paladin Protocol.
With the exception of the case provided for in article 14, all inquiries should be discussed on the Paladin forum https://gov.paladin.vote/ 5 for everyone to see and contribute.
All back-end code shall be public and all official discussions should be at least read only.
Toutes les informations nécessaires à la compréhension à protocole sera fourni dans la doc, et/ou dans la Constitution.
ARTICLE 23: Financing
The Paladin DAO will not allocate funds, whether through grants or any other mechanism, to any party that does not commit to uphold the same principles outlined in this Constitution in their use of the allocated funds.
Protocol recognizes, however, that “all work deserves honest pay”.
ARTICLE 24: Decentralization
In the spirit of decentralization, the Paladin Protocol core team will progressively, but steadily grant full control of the DAO to its community.
Discussions involving the protocol, DAO, or any relation thereof, will be discussed on Discord and Discourse, or any future communication platform in an open manner.
ARTICLE 25: Dignity
Everyone deserves the same rights and dignity. Each person should respect the dignity of others, and that they do not harass or belittle others.
ARTICLE 26: Freedom of thought, conscience and expression
All PAL holders have the right to freedom of opinion, thought and conscience; this right includes freedom of expression.
The exercise of these freedoms may not be subject to any conditions, restrictions or sanctions.
ARTICLE 27: Prohibition of discrimination
The enjoyment of the rights and freedoms recognized in this Constitution must be ensured, without distinction of any kind.
ARTICLE 28: Property Protection
Any PAL holder has the right to respect for the ownership of their PAL tokens. No one may be deprived of his property except under the conditions of article 14 of the Constitution
By PAL holders
