Societal’s mission is to transition as many organizations into DAOs as possible. In staying true to that mission, Societal will transition into a DAO governance model itself. Societal will follow the successful transition models of web3 projects like Uniswap, MakerDAO, and Compound, and slowly transition into a DAO by continually giving more control and responsibility to the community. In the early development stages of the project, product and business development will be hampered if governance relies solely on an autonomous community. Societal will use its own platform for management of the DAO and will become a case study for other protocols that have designs to transition to a DAO.
Once Societal transitions completely into a DAO, it will follow a similar approach to Polkadot’s on-chain governance mechanism. Societal token holders will be able create proposals, apply for grants, and change governance parameters. There will be a general council and a technical committee, with members voted in by token holders. Members of the DAO can delegate their votes to members of the council, and the technical committee will be empowered to fast-track technical referendums, ensuring maximum protocol up-time.
Holders of the $SCTL token can make proposals for the following items:
- 1.Modification of Product Features
- 2.Fund a Project from the Treasury
- 3.Hire Employees
- 4.Adjust Blockchain Parameters
- 5.Revert Previously Executed Referendum