Understanding Dandelion Governance in the Datamine Ecosystem
💡 AI Article Summary
Decentralized DAO Governance via Aragon OS
Dandelion introduces a template built on Aragon OS, enabling decentralized voting and financial management within the Datamine Network. Participants can lock their FLUX utility tokens in exchange for voting rights, functioning similarly to a redeemable membership.
Core Components of the Dandelion System
The framework operates through a suite of specialized decentralized applications (dapps):
- Tokens Dapp: Maintains the registry of company token holders.
- Finance Dapp: Functions as a multisig wallet where outward transactions require approval from DAO members.
- Redemptions Dapp: Allows members to exit the DAO and retrieve their locked FLUX collateral (excluding any foundation-collected ETH).
- Time Lock Dapp: Locks FLUX tokens to prevent vote spam. Proposing a vote currently requires locking 50 FLUX for 7 days, carrying a 15% spam penalty.
- Token Request: Grants non-transferable DAMFUND tokens (at a 1:1 ratio with locked FLUX) used solely for voting weight.
- Voting Dapp: Executes governance decisions. Proposals require a 51% majority of voted tokens and a minimum 33% turnout to pass.
Decentralization and Parameters
While parameters like FLUX requirements and configurations are set by the developer, the underlying smart contracts ensure that only the individual users control their locked collateral unless a democratic vote is approved. For more details, refer to the Dandelion User Guide on Notion.
How Dandelion works
There are various dapps build within one template in Aragon OS that can help do voting and finance in decentralized fashion.
Basically, you lock-in you FLUX in finance dapp in exchange for voting rights in DAO. Think of it as a membership fee but it can be redeemed anytime you want to leave (unless a vote passes to spend those FLUX).
Tokens dapp. A list of company's token holders.
Finance dapp. Is literally a multisig wallet. Every transaction out of this wallet will require approve by voting of company members.
Redemptions dapp. In this dapp you'll be able to get out of a company should you want to split our paths. You'll get your FLUX collateral back. You will not be able to redeem ETH collected by foundation.
Time Lock dapp. This dapps will lock your FLUX tokens for specific period of time if you want to create a new vote. Right now, it's configured for 7 days lock-in of 50 FLUX with a 15% vote spam penalty.
Token Request. Here you can request for a DAMFUND token that is not transferable in any way and is only used as your voting right in exchange for locking in your FLUX. 1 DAMFUND = 1 FLUX.
Voting. Well this dapp is the most important part of the whole DAO. For any vote to be approved by DAO participants 51% votes of all voted tokens is needed and a 33% minimum approval (turnout).
For more information on Dandelion visit www.notion.so/Dandelion-User-Guide-58216bc8a82340c0aa87cd39774a15ef
Is it decentralized?
Yes and no. There is nothing that can stop me creating a new DAO or real-world organization if I'll see that this one somehow doesn't work, or I have to make new voting configurations etc.
The amount of FLUX you should lock-in to be able to get votes and voting configuration is my personal arbitrary decision so it's centralized in this way.
But at the same time, no one can have a control over your locked funds but you, unless a vote was approved or someone controls 51%+ of all votes and can approve anything.
Frequently Asked Questions
What is Dandelion in the Datamine Network?
Dandelion is a decentralized governance template built on Aragon OS that allows FLUX holders to lock their tokens to gain voting rights and manage DAO finances.
Can I get my locked FLUX back from Dandelion?
Yes, the Redemptions dapp allows you to withdraw your FLUX collateral at any time, provided those tokens have not been allocated by an approved vote.
What are the requirements to propose a vote in Dandelion?
To create a vote, you must lock 50 FLUX for 7 days via the Time Lock dapp. A 15% spam penalty applies if the vote fails to meet parameters.
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