🗺️DAOmond
DAOmond is a Decentralized Autonomous Organization (DAO) for the community of peers within the Forgenie Protocol which includes users, builders, developers, and auditors. The DAOmond is designed to ensure that power is distributed among its members, promoting transparency and community-driven decision-making. The DAOmond's primary functions include:
Managing upgrades within the protocol, such as the Forge and the Diamond Foundry.
Facilitating decision-making processes over the funds available in the Treasury, from proposal submission to execution.
Overseeing the Auditors guild, responsible for the verification of modules.
The DAOmond features a security council comprised of Auditors who are responsible for verifying Facets within the Forgenie ecosystem. To become an Auditor, candidates must undergo a rigorous application process and complete KYC (Know Your Customer) requirements, which include detailing their previous contributions to the protocol. Once the application process is successfully completed, the Auditor receives a non-transferrable NFT that grants them the right to vote on a Facet's security.
Becoming an Auditor also involves staking a significant amount of tokens as a measure of assurance against potential malicious actions. This staking requirement serves as a safeguard to ensure that Auditors act in the best interest of the community and adhere to the highest standards of security and integrity. In the event that an Auditor engages in malicious activities, they can be penalized by losing a portion or all of their staked tokens.
The DAO treasury serves as a crucial component of the Forgenie ecosystem, acting as both a vault for collecting fees and a community fund for supporting various initiatives. By centralizing the allocation of resources in the treasury, the DAO ensures that funds are managed responsibly and allocated towards projects that align with the community's goals and values.
The primary functions of the DAO treasury include:
Collecting fees: A portion of the fees generated by the Forgenie platform, such as those from Facet registration, Diamond creation, and Facet upgrades, are redirected to the DAO treasury. This helps maintain a sustainable revenue stream to support the ongoing development and growth of the ecosystem.
Allocating funds: The treasury acts as a community fund, with resources allocated towards projects and initiatives that benefit the Forgenie ecosystem and its users. These allocations are determined through the DAOmond's governance process, ensuring that decisions are made transparently and with community input.
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