Governance and Voting
The VRH DAO contains multiple contracts and is connected to Aragon. Aragon's implementation has been modified to replace the mechanism of one token for one vote, with a weighted vote system based on token lock time and its quantity.
The VRH DAO has a total of three Aragon Agent ownership addresses, which are governed by two independent DAOs:
- 1.The Community DAO (or just “the DAO”) governs the day-to-day operation of the protocol.Voting is based on a user's holding of "Vote Escrowed VRH" (veVRH). veVRH is obtained by locking VRH for up to 4 years, with 1 veVRH equal to 1 VRH locked for 4 years. As the lock time decreases, an account's veVRH balance decreases linearly as the time remaining until unlock decreases. veVRH is non-transferrable.An account must have a minimum balance of 2500 veVRH to make a DAO vote. Each vote lasts for one week. Votes cannot be executed until the entire week has passed.The DAO has ownership of two admin accounts:
However the create guild admin is controlled by ownership admin. It means create guild App in Aragon VRH DAO is protected by ownership DAO.
- The ownership admin controls most functionality within the protocol. Performing an action via the ownership admin requires a 30% quorum with 51% support.
- The create guild admin controls only create guild function within the protocol. Performing an action via the create guild admin requires at least 1M votes with 51% support.
- The MOH ownership admin controls only mint MOH within the protocol. Performing an action via mint MOH token requires at least 20% quorum with no less than 51% support.
- 2.The Emergency DAO has limited authority to kill guilds during extraordinary circumstances.The emergency DAO consists of six members, comprised of a mix of the VRH foundation and prominent figures within the DeFi community. Each member has one vote. Any member may propose a vote.All members of the emergency DAO may propose new votes. A vote lasts for 24 hours and can be executed immediately once it receives 66% support.
veVRH holders can use the tokens to make decisions by voting on the following:
- Adding a new type of game token for GAS burning
- Changing a guild contract template
- Changing gasEscrow contract template
- Toggle pause malicious guild
- Creating a new guild
In the early stages of VRH, the admin privileges will be controlled by the Project team. As more and more VRH tokens are distributed to the community through participation in guild mining, the community will have more control over the admin privileges. Thereafter, the Project team will have lesser control, achieving a truly decentralized model for governance.
- Mint MOH
Minting MOH permission has transferred to MOH Ownership Aragon App agent for to ensure that the MOH token is a decentralized token. Once the MOH token supply is reduced by 50%, the MOH minting proposal will be triggered. The minted amount will refill the MOH reward pool.
Again, the MOH ownership (Aragon) app requires at least 20% quorum with no less than 51% support to pass the proposal. MOH ownership (DAO) will bribe all supporters to incentivize all veVRH holders to vote. Supporters will receive 5% of the total MOH issued distribution, and the distribution will be calculated according to the proportion of veVRH in this proposal.