CIP-3: Enact The Chain Community Constitution

CIP: 3
Title: Enact The Chain Community Constitution
Vision: CIP-3 aims to codify into the Blockchain a set of rules and regulations that the Chain community will adhere to when participating in Chain Governance. It’s important that there are these foundational policies so that new users coming into the ecosystem know the processes of how to go about improvements and suggestions for the protocol

Changes:

Chain Constitution

These laws and regulations have been codified into the Chain Governance community with an on-chain transaction after approved by the Community polling module.

Article I - Initial Parameters
The initial Chain Governance parameters are set forth below:

Proposal: 100,000,000 XCN
Quorum: 200,000,000 XCN
Staking Rewards: 25,000,000 XCN P/Month
Vote weight: 1 XCN = 1 Vote

Article II - No Buying or Selling of Votes
Buying or selling of votes is strictly prohibited. No one shall accept any form of value in exchange for any votes of any type. There will be penalties for violation of this Article which may include, but not limited to, slashing of staked coins.

Article III - DAO Treasury & Budget
The initial XCN DAO Treasury will be gifted by Chain at the amount of 10 billion XCN units. The budget allocation will be limited to 100,000,000 XCN per month which any unused portion rolls over to the subsequent month. This can only be changed by a Chain Improvement Proposal (CIP) and can’t be modified from a Chain Polling module.

Article IV - Constitution Amendments
Any and all amendments to the Chain Constitution shall be done via Chain Improvement Proposals (CIPs) or Chain Polling only if an on-chain parameter is unchanged.

The Chain Constitution also lays out community related rules and formats to adhere to which are outlined below:

Key Values
• Open-mind: The community should keep an open-mind regarding proposals and discussions so that we can respect everyone’s opinion to reach consensus.
• Respect: Refrain from using derogatory remarks or profanity against others. Voice your opinion from an intellectual standpoint and invite respectful debates.
• Participation: Without you and your vote, there is no meaningful governance. You are encouraged to read, discuss and vote for every proposal so there is decentralization in the process.

How to be a part of the Chain DAO?
To become a member of the Chain DAO all you need to do is own XCN. All votes and proposals are controlled by the XCN token. XCN may also be delegated to you by others to receive their vote weight and become a member of the Chain DAO.

The Chain Improvement Proposal Framework

Chain Improvement Proposals (CIPs) are on-chain changes to the protocol designed by a voting mechanism located in the Chain Governance smart contract utilized by XCN stakers. CIPs may also be utilized via Chain Polling for off-chain gas-less votes designed to make changes that do not require parameter modifications. The framework below will play a key role in the process in which proposals are brought forward to the community.

Every Chain Improvement Proposal must have an abstract and link tot the discussion post on Discourse which will adhere to the following format:

(Please note: If coding changes are required you must also submit a Pull Request on GitHub.com/Chain/CIPs in addition to the below)

  1. Create a discussion thread on Chain Forum Discourse with the framework format located at: https://forum.chain.xyz
  2. The discussion must follow the proposal framework found here: https://framework.chain.xyz
  3. Deploy the proposal on Chain’s Snapshot polling located at. https://polls.chain.xyz
  4. If the proposal is approved and requires no parameter changes, it may be executed after 2 days lapses from the end of the voting period. If the proposal does require parameter changes go to step 5.
  5. Deploy an on-chain proposal once you have sufficient vote weight to deploy proposals here: https://gov.chain.xyz. Once the voting period ends the proposal will either have reached quorum to pass if it has the majority of the votes and reached the on-chain voting quorum or will fail for not reaching majority of the votes and/or reaching the minimum quorum threshold. If the proposal passes it can be executed on-chain after 2 days.

Testnet URL: N/A
Audits: N/A
Budgets: N/A
Timeline: 4/4/2022
Authors: Deepak T. & Chain Team

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Polling Proposal:

:ballot_box: Vote: Snapshot

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