HOM DAO Governance
HOM DAO Governance
Who runs the HOM DAO? No one. And everyone with a HOM governance token.
HOM DAO has functioned as a Decentralized Autonomous Organization (DAO) since it’s initial creators started discussing the project.This whitepaper is a product of DAO input from many of the original DAO members and can be amended at any time by the DAO to more accurately describe the progress of the project and the evolution of its goals and protocol features. This second edition of the White Paper (May 2022) reflects a significant evolution from the original concept as progress and operational details have become more clear. The DAO has grown significantly and has moved in the direction similar to a Service As A Software (SAAS) to facilitate the creation of HOM-NFTs, a new blockchain repository for title, and a conduit to a creating a DeFi lending platform for Real World Assets (RWAs)..
Sections have been authored by different DAO members, often anonymously, and then subjected to ongoing peer review. You can view active project submittals and voting at the DAO Snapshot by clicking on this link https://snapshot.org/#/homdaoofficial.eth.
Central to the DAO governance is the concept of participation. As noted previously HOM DAO has pioneered the concept of “Vote-to-Earn” staking awards which are based on voting and other beneficial community actions. HOM token owners are automatically members of the DAO. You can observe the DAO in our Discord channel and elsewhere, but you can’t actively participate or vote in the DAO without a HOM token.
The smart contracts within the HOM protocol run the operations in an “auto-pilot” format. Whenever the DAO needs to make a change to the blockchain code, there is a process that is followed.
A member or collection of DAO members outlines a project that would benefit the DAO and protocol. The project is outlined and presented to the DAO members through a series of video calls, presentations, preparation of technical specs, and other project content. The proposed project is then open to peer review by members of the DAO who can comment and make suggestions. The project advocates can take any comment into consideration and modify the project as the DAO directs. The final project is put forth on Snapshot for a vote. If the vote passes, then the project is approved and moves forward and funds from the DAO treasury can be allocated to finance the project costs and the project's successful work product is integrated into the blockchain for the HOM Protocol. If the project is rejected, then it does not move forward.
The DAO has several roles within the community to help ensure that the protocol functions properly. All DAO members have complete visibility into operations, and all community members have a chance to provide their input and vote on significant decisions. To help ensure that the DAO community doesn’t go “off the rails' ', the DAO is in the process of creating a five-member DAO counsel that is selected from the DAO community which reviews governance processes on a monthly basis to ensure that DAO standards are upheld. This counsel also holds the key to the multi-sig wallets for the DAO. Both our Ethereum and Polygon treasury wallets are guarded by a 2/6 multi-sig Gnosis Safe, preventing a circumstance in which any one DAO member has direct control of funds in the DAO treasury.
The DAO also retains the services of professional law firms, accounting firms, and real estate professional services teams. It may also retain the expertise of other advisory services firms to help the DAO establish optimal treasury composition, asset acquisition, fundraising, and other services.