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DAO Guidelines

1. Mission Statement​

Our mission is to empower indie or small-scale developers to create groundbreaking games and efficiently bring ambitious visions from sketch to screen. We encourage developers to join us in their next game project to leverage our modular tools, engaging IP, and established gaming infrastructure. As a community-driven organization, we aim to foster innovation, transparency, and collaboration within the gaming ecosystem.

2. Governance Model​

2.1 Governance Forum​

  • All communication takes place in our official governance forum on Discord.

2.2 New Proposals / Temperature Checks​

  • All proposals must pass a temperature check on Snapshot before advancing to Tally.xyz for offical voting. While on Snapshot, you may continue to test and refine proposals until they are accepted.

2.3 On-Chain Governance​

  • Our DAO uses an on-chain governance model facilitated by Tally.xyz for the management and oversight of the NFTL token and decision-making processes.
  • Proposal Submission: Any token holder with a minimum balance of 100,000 NFTL can submit a proposal for community consideration. Proposals must be detailed and include potential benefits, risks, and financial implications. Please follow the available proposal template.
  • Voting: Proposals are voted on by DAO members, with each vote weighted by the amount of governance tokens (NFTL on Immutable zkEVM). Voting is transparent, time-bound, and handled on-chain.
  • Proposal Delay: There is a 1 day proposal delay, or the amount of time between when a proposal is submitted and when it goes up for voting.
  • Voting Period: Voting lasts for 7 days on each proposal.
  • Quorum Requirements: A proposal will only pass if a minimum quorum of token holders (determined periodically by the DAO) participate in the vote. The current Quorum for Snapshot temperature checks is 2.5M NFTL, and 3.9M NFTL for proposals on Tally.xyz.

3. Roles & Responsibilities​

3.1 DAO Members​

  • Rights: DAO members can propose, vote, and discuss initiatives for the future of the DAO. Active participation is encouraged for the growth and sustainability of the organization.
  • Responsibilities: Members should adhere to community guidelines, contribute meaningfully, and act in good faith to protect the long-term vision of the DAO.

3.2 DAO Council / Multi-Sig Committee​

  • Core Contributors: The DAO's core contributors, selected through community votes or a merit-based process, manage the day-to-day operations, technical upgrades, and partnerships.
  • Decision Powers: Core DAO members are responsible for implementing community-approved proposals on-chain but do not have unilateral decision-making power.

3.3 Advisory Council​

  • To maintain stability and long-term vision, an advisory council is established, consisting of Nifty League founders and other trusted individuals with deep industry knowledge to provide guidance on strategic decisions.
  • The Advisory Council holds veto power in the event a passed proposal is deemed unjust, illegal, or severly hinders the success or operations of our platform.

4. Treasury Management​

4.1 Funds Allocation​

  • Initially, the DAO Treasury is funded with 35M NFTL in addition to all the NFTL liquidity on QuickSwap & Uniswap.
  • The DAO treasury may be funded by a portion of revenues generated from our games and ecosystem contributions.

4.2 Budgeting Process​

  • All financial decisions, including expenditures and investments, must be approved through a governance proposal.

4.3 Spending Categories​

  • Game development and studio partnerships
  • Community rewards and incentives
  • Marketing and user acquisition
  • Ongoing operational costs

4.4 Security Measures​

  • Multisignature Wallets: The DAO's treasury is protected by a multisignature wallet (Gnosis Safe) to minimize the risk of unauthorized access. Transactions require approval from multiple core members.
  • Audits: Regular smart contract and financial audits are to be conducted to ensure the security of DAO funds.

5. Tokenomics​

5.1 Governance Token (NFTL)​

  • Purpose: NFTL tokens serve as both a governance and utility token within the ecosystem.
  • Current Distribution: As of September 14th, 2024 all planned emmisions are complete and NFTL has been fully distributed with a Max Supply of 1.225B. This Max Supply is not hard-capped at the moment (see below).
  • Future Proposals: As the platform continues to evolve, DAO proposals may be introduced to increase the Max Supply of NFTL and allocate towards staking rewards, community incentives, or ecosystem development.

6. Legal & Regulatory Considerations​

6.1 Compliance​

  • The DAO operates in accordance with applicable laws and regulations. This includes:
    • Compliance with securities laws in jurisdictions where NFTs or tokens may be considered securities.
    • Ensuring that token distribution and DAO operations do not violate local financial regulations.

6.2 Risk Disclosure​

  • Limited Liability: DAO members, including token holders and core contributors, participate on a voluntary basis and are not liable for the actions of other members.
  • Regulatory Risks: The DAO's structure may be subject to regulatory scrutiny. Members should be aware of evolving regulations in the blockchain and gaming industries.

7. Intellectual Property & Community Contributions​

7.1 IP Protection​

  • All original content, assets, and code developed within the DAO or by community contributors are owned by the DAO and licensed under open-source or similar frameworks unless otherwise stated.
  • Third-Party Partnerships: When collaborating with external studios, appropriate licensing and IP agreements will be enforced to protect DAO interests.

7.2 Contribution Guidelines​

  • Contributors retain rights to their work but grant the DAO a perpetual, irrevocable, and sublicensable license to use, modify, and distribute their contributions.

8. Community Standards​

8.1 Code of Conduct​

  • The DAO strives to maintain a respectful, inclusive, and collaborative environment.
  • Zero Tolerance for Misconduct: Harassment, discrimination, or malicious activity will result in removal from the DAO and revocation of voting rights.

Continued Code of Conduct.

8.2 Transparency & Communication​

  • All DAO-related communications, including decisions, financial reports, and proposals, will be made publicly available to maintain transparency.
  • Open Discussion: The community is encouraged to engage in open, respectful discussions regarding all governance matters.

9. Dispute Resolution​

  • Conflict Management: Any disputes within the DAO regarding governance, financial matters, or other issues will be handled through a structured mediation process. The Advisory Council may serve as mediators if needed.
  • Final Decision: Disputes unresolved through mediation will be settled via governance votes.

10. Evolution & Amendments​

  • Amendment Process: The DAO is an evolving entity, and its guidelines can be amended through a governance proposal and community vote.
  • Continuous Improvement: We strive to continuously improve our processes and adopt best practices from successful DAO models to ensure long-term success.

These guidelines are subject to change as the DAO grows and evolves. All changes will be communicated to the community through official channels.