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Add / Remove / Quit Governor (Collective)

Add / Remove / Quit Governor (Collective)

This chapter describes how to add, remove, and quit a Collective Member.

In Collective DAOs, all DAO members are collectively referred to as "Members". Generally, all Members are both Governors and Investor. The exception is Summoner, the only Summoner who can become and maintain a Member role without any deposit. You can check out Roles In Collective DAO to learn more about Member role.

The following table is a summary of the methods of Member adding, removal, and exit:

Operation
Methods
Who to Do
Add
Become a Summoner
Summoner
Add
Add a new Member through a Member-In Proposal
Any existing Member of the DAO submits a proposal. and all Members vote.
Add
Successfully deposit through the Fundraising process
Potential Members who meet Member Eligibility.
Remove
Remove an existing Member through a Member-Out Proposal
Any existing Member of the DAO submits a proposal, and all Members vote.
Quit
Voluntary quit through the Member Quit Card
A Member who wants to quit.
Quit
Quit through Redemption (redeem all Deposits)
A Member who wants to quit.

Become Members Through Summoning DAO

Summoner is the deployer of the DAO. In the Collective DAOs, only Summoner can directly become a Member without a Deposit. After the DAO deployed, Summoner did not need to deposit to maintain its membership. This means Summoner can always perform as Governor, but he/she doesn’t have to be an Investor.

It is important to note that there is only one type of Voting Asset in the Collective DAO: Deposit. No Deposit means no Voting Power. A Summoner without a Deposit, is still a Member, and has the right to vote, but does not have any substantial voting power. However, Summoner can still initiate investments and other proposals.

Add Members Through Member-In Proposal

Who is eligible to be nominated as the new Member.
Anyone who meets the Member Eligibility criteria set by the DAO (wallet address). A full description of Member Eligibility can be found at Eligibility.
Who can initiate the Member-In Proposal.
Any Member of this DAO.
How to Approve
All existing Members vote. Whether approved or rejected is based on the DAO voting mechanism.

There are three steps to completing a Member-In proposal: 1) submit a Member-In proposal, 2) voting , and 3) execution.

Step 1: Submit A Member-In Proposal

Any Member of this DAO can submit a Member-In Proposal to nominate a new Member. First, find the "Management" button on the DAO homepage top bar.

image

Click on the Management page and find the Member-In proposal card. Click "Create" to enter the proposal input page. A Member-In proposal requires the following input:

Item
Tips
Wallet Address
The nominee's wallet address. When the proposer enters an address, the system checks whether that address meets the Member Eligibility criteria set by the DAO. If not, the proposal cannot be submitted. If the nominee has set up Profil3, the name and avatar of the wallet address holder will be displayed in the Preview on the right.
Twitter Link
You can provide a link to the nominee's Twitter page so other Members can get to know the nominee.
Tag
You can set a tag for the nominee, such as identity, field, etc. The tag makes it easier for other Members to learn about the nominee.
Description
The introduction of the nominee. A maximum of 500 characters. It will be shown during the voting page.
Deposit
To become a DAO Member, a deposit is required. You need to enter the amount of the nominee's promised deposit. In the subsequent voting process, the nominee is required to approve the amount of investment tokens.

Step 2: Voting

When the Member-In proposal is successfully submitted, the proposals list page displays the proposal. Clicking on it takes you to the proposal details page, where all Members can vote on the proposal during the voting period. The status tag for the proposal in the proposals list page will also be updated in real-time as the proposal progresses.

Since Members of the Collective must commit to deposit before voting, the voting process of the Member-In proposal requires the following steps:

  1. The nominee needs to approve his/her promised investment token, which must be equal or bigger than the proposal input. If not enough investment tokens are approved, click start voting in the next step and the proposal will fail directly.
  2. Click Start voting. Any Member can vote.
  3. All members can vote.

An investment token approved by the Nominee (as the Approver of the Member-In proposal) will not be scratched away at the Start Voting but will be executed after the vote has closed. If the vote is approved, the token approved by the nominee will be transferred to the DAO pool, and the nominee will become a Member of the DAO. If the vote does not pass, the nominee's token will not be scratched away and the nominee will not become a Member of the DAO.

Step 3: Execution

When a Member-In proposal ends the voting period, anyone can click Execution to execute the proposal result. If a Member-In proposal is passed, the nominee will become a Member of the DAO after the Execution transaction is executed, and you can see them In the DAO's About / Member list.

Become Members Through Fundraising

In a Collective DAOs, people who meet the Member Eligibility set by the DAO can become a Member of the DAO through Fundraising initiated by the DAO. For details on how to participate In A Collective DAO fundraising, see Collective / For Investor / Invest In A Fundraising Event.

Remove Members Through Member-Out Proposal

Any Member may propose to remove another Member by submitting a Member-Out Proposal. What should be noted is:

  • When a person is removed as a Member, that person's remaining deposit in the DAO will be removed from the DAO pool and transferred to the wallet address of this previous Member.

There are three steps to removing a Member: submitting the Member-Out Proposal, voting, and execution.

Step 1: Submit A Member-Out Proposal

Go to the Management page and find the Member-Out Proposal. Click "Create" to enter the application process.

All you have to do is select the Member you want to kick out of the list and fill in your reasons so that other governors know what's going on.

When you finish submitting the transaction, the proposal will go to a vote.

Step 2: Voting

When the proposal is successfully submitted. The proposals list page displays the proposal. Clicking on it takes you to the proposal details page, where the Governor can vote on the proposal during the voting period. The status tag for the proposal in the proposals list page will also be updated in real-time as the proposal progresses.

Step 3: Execution

When a proposal ends the voting period, anyone can click Execution to execute the proposal result. If a Member-Out proposal passes, that person (address) is no longer in the role of owning a Member, his Deposit is removed from the DAO pool, and there will be no information about that person in the DAO About / Member list. If a Member-Out proposal does not pass, then the proposal ends and the person remains a Member.

Member Quit

In the Collective DAOs, if a Member wishes to voluntarily give up his or her Governor status, he or she can quit at any time via the Member Quit feature.

If you decide to give up membership in a Collective DAO, just find the Quit Card on the Management page, click on it, a prompt will appear, click Quit again, and you will complete the exit process.

Quit through Member Quit Card is a special Redemption that may be subject to a Redemption Fee under the DAO's setting. For details, please see Redemption and Fee & Carry.

When a Member completes the Quit action, the Member will no longer have the status of a Member, and the remaining deposit in the DAO will be removed from the DAO pool. After deducting the redemption fee, the remaining amount of that deposit will be transferred directly to the wallet address of the removed member.

Quit Through Redemption

If the DAO does not currently have an investment proposal in progress, DAO members can redeem all or part of the deposit at any time. If the DAO has an unfinished investment proposal in progress, DAO members may only make redemption actions during the Grace Period of a investment proposal.

When all remaining deposits are withdrawn and the Member no longer owns any deposit of the DAO, this person will automatically lose its Member status and exit the DAO.

Redemption action may be subject to a Redemption Fee under the DAO's setting. For details, please see Redemption and Fee & Carry.