Bobu is an experiment in decentralized IP management. We will have to create the tooling needed for decentralized voting with ERC-1155 tokens. This is an experiment so a lot of new things will have to be built and a lot of questions won't have simple answers. We look forward to discovering new things with you.
Governance over a decentralized character is a complex process. Let's look at some of the mechanisms that will be part of the Bobu Token experiment.
Key components of the governance model
A brief overview of all the roles in the Bobu Token experiment
At first, votes on Proposals will be held on Discord. One verified Bobu Holder will have 1 vote. We will be building our own Snapshot integration for ERC-1155 tokens which will take some time.
The Azuki team holds the majority of the supply to start, but will abstain from voting on Elections and Proposals. The Azuki team will intervene only to block malicious proposals.
Proposals that intend to end the experiment (for example, sell Bobu), that are against the community rules, or that are out of scope for the Experiment.
A wallet that requires multiple signatures to start a transaction. 100% of the Bobu Sale funds will be transferred to a multisig wallet. There will be a threshold of 3 signatures to approve transactions. The initial owners of the multisig wallet will be: @locationtba, @daph, @demna, @2pmflow, @Rose
At the start of the experiment, most of the decision making will come from the Azuki team (except the voting!). We intend to gradually open up that governance to Bobu Token holders. Once a few Proposals have been executed, the Committee will open up Elections for 4 additional community-elected members to the Committee. The Governance of the Bobu Token experiment will evolve as we all become more familiar with the structure.
The journey to decentralization is full of unknowns. Operations, marketing, governance, finance, and legal questions abound. A good experiment should have a focused area under study. Our experiment is targeted at exploring decentralized IP governance. Putting Bobu in a Vault makes the experiment decentralized (the Azuki team will no longer own Bobu), but it might also lead to Proposals that could end the experiment early. To ensure the experiment remains focused, the Azuki team is keeping 30k Bobu Fractions at time of sale. The Azuki team will abstain from voting on Proposals that fall within the scope of the experiment. However we will intervene when a Proposal falls out of the experiment scope. Furthermore, we will release a detailed schedule for how we plan to release the team's 30k Bobu Tokens over the timeline of the experiment. These measures are in place to ensure the experiment in IP governance is carried out as intended.