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Constitution of BrightID Main DAO
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README.md Update README.md Jan 18, 2020

README.md

BrightID-Constitution

This document outlines the responsibilities of BrightID Main DAO in governing BrightID's open-source network on behalf of BrightID Main LLC ("BrightID") and requirements for its managers.

Responsibilities of BrightID Main DAO

Actions are decided by a vote of the managers and enacted by BrightID Main DAO's software, including its agent app. The responsibilities of BrightID Main DAO are as follows:

  1. Managing BrightID's cryptocurrency finances
    1. Directing funds from BrightID Main DAO to sub-DAOs.
    2. Refunding income
      1. BrightID Main DAO is a non-profit organization. Income beyond what is needed to support BrightID and its legitimate purposes will be redistributed equally to all sponsored BrightID users.
  2. Setting the token and price used for purchasing sponsorships through the sponsorship smart contract. The initial token and price will be 1 DAI, but that may change in light of scalability issues or inflation. The following guidelines apply.
    1. The choice of token should allow BrightID to grow to global scale.
    2. The price should be adjusted occasionally to match inflation in the greater economy.
  3. Adding and removing managers
  4. Amending this document
    1. Currently delegated to members of the github organization, who will eventually transfer control to BrightID Main DAO's agent app.
  5. Determining suitable entity formation(s) and other organizational details necessary to order and protect the activities of BrightID.

Managers

Requirements

  1. A manager, by their continued managership--as evinced by their governance token, agrees to the terms of this constitution. A manager may renounce their managership at any time by proposing a vote to revoke their Bright Main DAO governance token.
  2. A manager must be willing to devote time (without pay) to deliberating and voting on issues in the BrightID Main DAO.
  3. A manager must be willing to make certain personal details public.
    1. Ethereum address that holds their governance token
    2. BrightID
    3. Affiliations to other organizations
  4. Affiliations to other organizations must be taken into account with regard to existing managers. No group of managers with a shared external affiliation should compose half or nearly half of the managers. This protects the BrightID Main DAO against a takeover by an outside group.

Manager Registry

Information about managers is kept in a public registry.

No Compensation or Reward

Managers are not compensated for deliberation and voting. Managership does not entitle a manager to any share of assets held by BrightID Main DAO. For the avoidance of doubt, the voting managers of BrightID Main DAO should be treated as managing agents of the organization and not constitute economic members of BrightID Main LLC and its affiliates.

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