HODLpac Governance Tokens
If you've donated to HODLpac, check your wallets!
gm,
Today is the day! If you’ve donated to or through HODLpac since January 1, 2021… it’s time to check your wallets for HODLpac governance tokens.
This is a first step in implementing community governance of HODLpac as we build a cryptonative political organization together.
Quick notes:
HODLpac’s governance token (the HODL token) is on Polygon.
For instructions on how to add both Polygon and the HODL token to your wallets, check out this link to our Docs: https://docs.hodlpac.org/community-governance/accessing-hodl-tokens
What’s next for HODLpac community governance?
Join us in the Discord to chat about it: https://discord.com/invite/fDxHZxJ
But here’s what we’re thinking…
First, we need to re-calibrate our Snapshot page: https://snapshot.org/#/hodlpac.eth and deploy a governance contract (most likely modified Compound Bravo).
And then we can roll out community governance for two aspects of HODLpac operations:
The endorsement process
Governance over HODLpac’s HODL token rewards
Endorsements
The endorsement process, as you may recall, is currently run by the Endorsement Committee, which has endorsed several candidates, making them eligible to receive HODLpac donations. HODLpac governance token holders will be able to compel or reverse endorsement decisions when the Snapshot is live and we’ve reached rough consensus on governance parameters to start with for community voting on endorsements.
HODLpac Token Rewards
HODLpac’s token doesn’t have a set token supply; rather, new tokens are minted each time we do a drop (weekly soon and then automatic at time of donation after that). So this means there isn’t a “treasury” of HODLpac tokens (with value) sitting out there for the DAO to govern, as is the case with most DAOs/cryptonetworks.
However, HODLpac governance token holders should have control over how we disburse these tokens going forward. For example, we may want to grow our community by inviting wallets that hold a certain other token to receive HODLpac tokens if they submit their “KYC-lite” information (to verify the wallet is owned by a US citizen).
We’re excited to build a political organization for crypto voters, by crypto voters alongside you. This is (and is going to continue to be) a fun experiment. Have ideas? Let’s chat!
Join our Discord: https://discord.com/invite/fDxHZxJ
Or email tyler@hodlpac.org
Disclaimer: HODLpac is a FEC-registered hybrid political action committee and is not legally affiliated with any party, party committee, candidate or candidate committee.