Source: https://www.chaingpt.org/blog/chaingpt-dao

DAOs or Decentralized Autonomous Organizations are digital social coordination mechanisms built on distributed ledger technology utilizing smart contracts.

As a leading provider of crypto/blockchain/Web3 AI solutions, ChainGPT has chosen to uphold the principles of openness, decentralization, and permissionlessness that are prevalent in this nascent industry.

Opting to distribute control of the $CGPT fund treasury and leverage the power of its community for equitable decision-making around the direction of its development, ChainGPT has founded its Decentralized Autonomous Organization the ChainGPT DAO.

Let’s explore the specifications and implications of this new-age DAO.

Introduction

As is the case with any community in cyberspace, members of the ChainGPT DAO are given the power to submit and vote on proposals, steer the project toward desirable objectives, and control how the $CGPT token fund is allocated.

Membership and Voting Power

Based on a tiered commitment system, membership in the DAO is granted to all $CGPT token holders that are participating in staking. The degree of influence (voting power) a member has depends on two key variables

1) The number of tokens staked.
2) The stake pool’s lock-up duration.

There are four staking pool options that grant voting power:

15-day pool = 1x voting power per CGPT
45-day pool = 2x voting power per CGPT
180-day pool = 5x voting power per CGPT
365-day pool = 10x voting power per CGPT

*Note: farmers farm, they don’t govern. Staking LP (liquidity provider) tokens does not grant any voting power.

Proposing and Voting

Proposing

In order to create and submit a proposal a user must first satisfy the minimum voting power threshold requirement of 100,000 through staking in the appropriate $CGPT pools.

Once a user acquires enough voting power, their wallet will automatically unlock the capability to create proposals.

The process:

1. User will navigate to the CGPT DAO’s governance forum and connect their wallet.
2. Once connected, the user will click on “New Proposal”, which will take them to the creation page.
3. When filing a proposal, users will have to craft their ideas with care, making sure to provide an informative title and a coherent description that will communicate their objectives.
4. After structuring the proposal and providing all of the necessary details, the proposer will offer multiple options for the other DAO members to consider, ensuring a comprehensive approach to decision-making.
5. Upon finalizing the proposal, the proposer will complete their submittal by publishing it on-chain.

After a proposal is published, there will be an induction period where the proposal is listed in the forum but members will have to wait 12 hours before being able to cast their votes.

As soon as the voting cycle beings, every proposal will have 72 hours to pass through the community’s validation. The outcome of each proposal will depend on the cumulative votes on presented options, the option with the most support gets implemented.

* Note, malicious or otherwise unsound proposals will be denied.

Voting

Regardless of their stake, the right to participate in voting is freely available to every staking member. Vote strength is based on the same weighted voting power principle of (1 token * stake pool amplifier).

CGPT Fund

The $CGPT fund is a treasury of $CGPT tokens that will be used to incentivize collaborations, expand collateral pools, deploy across chains, build partnerships, and fund the creation of productive public goods for the ChainGPT ecosystem.

The fund will be instantiated immediately upon the DAOs formation; however, it shall remain without tokens until a 6-month maturation cycle has elapsed.

October 10, 2023, will mark that date. After which 9% of the total supply, (90,000,000 $CGPT tokens), will be injected into the fund over the course of a 54-month (~4.5 year) vesting period.

The Vision of ChainGPT’s DAO

Democratize access to and control over the most robust and sophisticated, on-chain AI ecosystem in the Web3 industry.

The future of humanity rests upon the shoulders of the mover, shakers, and builders that will come together to solve the world’s biggest problems. Artificial Intelligence happens to be the most profound tool for the attainment of this lofty goal.

ChainGPT intends to be the focal point of this development.

Who knows, maybe we might be able to implement some AI agents to become members of the organization.

Stay tuned to find out.

Want to learn more?
📜 → Check out the ChainGPT DAO docs ← 📜

Ready to Join the Revolution?
🥩 → Stake your $CGTP ←🥩
🏛 → Hop into the DAO dashboard and start proposing! ← 🏛

Resources:
🌐 Website | 📧 Contact| 🤖 Brand | 📃 Whitepaper