Societal offers multiple built-in governance models.
A one member, one vote governance structure allows each member of a DAO to have equal voting rights. This structure works well in small organizations where every member is an active participant and has equal ownership in the DAO. Ownership can be represented in the form of a single token or NFT.
Nominated voting is similar in concept to nominated proof-of-stake systems. DAO members can delegate their voting share to another member to vote on their behalf. This is most commonly seen when the DAO starts to grow and everyone in the DAO does not have time to participate. Community members can delegate their vote to a more active member for a specified period of time. This type of governance also works for one off votes, when a certain community member has more specific knowledge on the referendum being voted on.
Ownership weighted voting is similar in concept to shareholder voting, where the strength of a member’s vote is dependent on how many tokens they hold. This structure works well in large DAO or with web3 protocols that have transitioned to a DAO.
DAOs can use on-chain identity and credentials to onboard and attract the right people members, and can also be used for unique voting strategies. Community members with specific knowledge in a certain area can have the weight of their voting share increased when voting on these categorical referendums.
General council and technical committee voting works well for protocol-based DAOs. A general council and technical committee can be voted in by DAO members and have the ability to turn community proposals into referendums. They may also fast track technical referendums if there is an extreme technical issue with the protocol. When DAOs grow to a large number of members, referendum timelines can take longer and participation can shrink. A general council and technical committee voting structure is a good method to ensure the right proposals move ahead and stay on an appropriate timeline.
Some DAOs may choose to use both NFTs and tokens as ownership shares. In this instance, a DAO can implement unique governance structures that involve both the NFT and the token. For example, if a member of the DAO holds both the NFT and the token, the weight of their vote can double. As DAOs continue to evolve, more unique voting methods will begin to appear and DAOs need a platform that can adapt to these changing requirements.