⚖️Governance
Governance refers to a set of operational policies centered around a decentralized voting system. It allows the Deeep Network participants the ability to directly contribute to the direction and policies that make up the Network. While it's not a pure democracy, it operates as a representative democracy with a Data Committee exercising the voting power vested in them by token holders.
This governance will take effect within 90 days of mainnet launch. Until then NerdNode will review and approve resolutions off chain.
Members of Governance
Voters
Data Committee Members: These members are the designated voters on Deeep Resolutions. Their Voting Power is based on their locked $DEEEP and the amount of Voting Power delegated to them by Delegates.
Delegates
Token Holders or Data Committee Members: These individuals can delegate their voting power to Data Committee Members, ensuring their interests are represented in governance decisions.
Resolution Author
The individual that follows the DeEEP Resolution (DR) process and successfully submits it to a vote.
Submitting a DeEEP Resolution
All votes start by submitting a DeEEP Resolution, which must cite a budget and proposed funding source if there is a budget requirement among other things. This can include sources like the Community Fund, validator fees, etc.
Want to submit a Deeep Resolution? Review the process here 🚀
Voting Procedure
Voting Start
Time: Voting starts on D+2 00:00 (UTC) from DR Submission
Once the DR is submitted, relevant notice is sent out on the NerdNode website, Discord and other communities
Voting Power of all Data Committee Members are determined as per the snapshot taken at the DR submission. This will be the Voting Power used during the voting process. Any change of Voting Power during the vote will not be reflected.
Voting Procession
Period: 7 Days (168 Hours)
Vote Options: One in favor, opposition, and abstention
Status:
Rejected (>50% in opposition) - will not be implemented and Initialization Fee is collected by Community Fund
Approved (>=50% in favor) - approved for adoption onto the network and Initialization Fee is refunded to the author(s)
Quorum: Quorum is the minimum number of votes required for a resolution to pass. Based on the number of votes determined by the snapshot at the time of voting start, the total number of votes excluding the abstention is considered valid. Quorum is defined as over 40% of these valid votes.
Voting is compulsory, and all Data Committee Representatives with active Voting Power based on the snapshot are required to participate in the voting process (responsibility imbued by authority).
Voting may end early should the votes result in Rejected or Approve as described above
Emergency Resolutions
In the event of a situation requiring action quickly for emergency situations (if someone is gaming rewards at the detriment to the community, a major security vulnerability is detected, or something is adversely affecting the Network) the Data Committee members may vote on a temporary resolution with a narrow scope to immediately stay the emergency event.
An emergency vote requires 67% of the Data Committee members to vote in favor.
Emergency votes in order to protect the security, major health factors, or other data breach risks may not be announced until the vulnerability they are addressing is patched to prevent additional abuse by the announcement. As such will not require public DR Submissions to implement. It requires a 67% vote of all Data Committee members to withhold disclosure until the vulnerability is resolved, at which point it will be announced.
Any emergency Resolution shall be follower up by normal a DeEEP Resolution upon implementation which will contain the permanent solution to the emergency situation.
Emergency Resolutions will be automatically reverted after 14 days to prevent abuse of changing fundamentals of the Network without proper review, notice, and voting procedures.
Implementation
There are three major ways that a Resolution may be implemented
Immediate: Resolutions that can be carried out immediately within the system. The code has already been completed or simple configuration changes.
Core Team: For resolutions originating from or sponsored by the Core Team. Once the vote results in an Approval the Core Team will work on the code and implement it according to the schedule that was approved.
Community: Resolutions that are not sponsored by the core team. The core team may not be assigned, but community members can develop the proposal into a working solution. It will then be reviewed for compliance against the proposal and coding standards and merged into production. Upon deployment this will result in the participants and author claiming the resolution funds according to the budget in the completed resolution. The core team may choose to take projects like this on to win part of the associated budget.
Future Models
The DeEEP Network is committed to achieving true decentralization and empowering its community of node owners and stakeholders. To fulfill this vision, we are developing a comprehensive plan to transition the network's ownership and governance to a a structure similar to a Decentralized Autonomous Organization (DAO) within a 12-18 month timeline, starting no later than the conclusion of the 50,000 piece device sale. We will work to seek community input in this process to ensure that all voices in the DeEEP community are represented.
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