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EOS Constitution 20180530.md

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Article I: No Lying

No user of this blockchain shall make knowingly false or misleading statements, nor statements that constitute discrimination or harassment, nor profit thereby.

Article II: Property Rights

The rights of contract and of private property shall be inviolable, therefore no property shall change hands except with the consent of the owner or by a valid ruling by an Arbitrator, as defined by Article IX and Article X.

Article III: Arbitration

Each Member agrees to resolve disputes through the blockchain¡¯s default arbitration process, or any other process that the parties to a transaction may mutually agree to in advance.

Article IV: Voter Independence

No Member shall offer nor accept anything of value in exchange for a vote of any type, including for Block Producer candidates, Amendments or Worker Proposals, nor shall any Member unduly influence the vote of another.

Article V: No Owner or Fiduciary

This EOS Blockchain has no owner, manager or fiduciary. It is governed exclusively under the terms of this Constitution.

Article VI: 10% Ownership Cap

No Member nor any Beneficial Interest shall own more than 10% of issued tokens.

Article VII: Agreement to Penalties

Each Member agrees to submit to penalties imposed upon them for violations of the Constitution or any other governing documents relevant to their role. These penalties may include, but are not limited to, fines, account freezing, and reversal of transactions.

Article VIII: Block Producer Agreement

No Member shall serve as a Block Producer who has not agreed in advance to the Block Producer Agreement provided by the Members of this blockchain.

Article IX: Establishes Arbitration Forums

No Arbitrator shall serve except within an Arbitration Forum.

Article X: Arbitrator Standards

No Member shall serve as an Arbitrator who has not

  • Agreed in advance to the Arbitrator Agreement provided by the Members,
  • Been nominated by at least two other Members, and
  • Completed the course of study of, been certified by, and be in good standing with their Forum.

Article XI: Developers and Smart Contract Licenses

Each Member who makes available a smart contract on this blockchain shall be a Developer. Each Developer shall offer their smart contracts via a license, and each smart contract shall be documented with a Ricardian Contract stating the intent of all parties and naming the Arbitration Forum that will resolve disputes arising from that contract.

Article XII: Multilingual Contracts

Multi-lingual contracts must specify the prevailing language in case of dispute.

Article XIII: Developers Responsible for non-Member Access

As Developers are able to offer services and provide interaction with the blockchain to non Members via their applications, the Developer assumes all responsibility for guaranteeing that non-Member interaction conforms to this Constitution.

Article XIV: No Positive Rights

This Constitution creates no positive rights for or between any Members.

Article XV: Default Arbitration Forum Named

All disputes arising from this Constitution or its related governing documents shall be resolved using the EOS Core Arbitration Forum.

Article XVI: Amendment

This Constitution and its subordinate documents the Block Producer Agreement and Arbitrator Agreement shall not be amended except by a vote of the Token Holders with no less than 15% vote participation among eligible tokens and no fewer than 10% more Yes than No vote power, sustained for 30 continuous days within a 120-day period.

Article XVII: Choice of Law

Choice of law for disputes shall be, in order of precedence, this Constitution, the Maxims of Equity, and the laws of Malta.