This section outlines the proposed organization structures of our DAO and governance structures, further decentralization of the Ethlizards protocol and the operational focus of each entity.
The Lizard DAO serves as the primary framework supporting all three interconnected sub-DAOs. Currently, there is no established direct election or council structure. Proposed Lizard DAO future structure (subject to change): Once all three sub-DAOs are fully operational, a voting mechanism will be introduced to form a five-person council. One team member will be chosen internally by Lizard Labs. At the same time, one representative will be selected from each of the Community, Partnership, and Portfolio Sub-DAO groups through their standard voting processes. Additionally, a fifth advisor will be selected from the official Lizard DAO advisors. The Lizard DAO is responsible for addressing any issues that impact multiple sub-DAOs that achieves a quorum. DAO Improvement Proposals (DIPs) are escalated to the council by 70% voting member super-majority.
Three interconnected sub-DAOs form the basis of Lizard DAO's activity.
Responsibility - The Portfolio Sub-DAO is the organization responsible for identifying promising early-stage Web3 gaming partner projects and providing financial support to them. The Portfolio Council makes financial decisions related to the sub-DAO portfolio.
Structure - The Portfolio Council consists of 5 members.
Election Voting - The Genesis V1, V2, and (after launch) V3 Ethlizards collections serve as governance tokens for the Portfolio pillar. Self-nominated council members will be elected for a 6-month term through a shielded vote, where 1 NFT = 1 vote.
Duration - Epochs for the Portfolio Council last for six months. If the community deems a council member unfit for duty or acting against the best interests of the sub-DAO, their term can be terminated early through an 60% no-confidence vote by participating NFT holders. If more than 60 days remain in the Portfolio Council epoch, a replacement council member will be selected.
Voting - The community is responsible for drafting and voting on key Lizard Improvement Protocols (LIPs) when changes to the governance or strategy of the sub-DAO are needed. LIPs are approved by a majority vote of participating voters, provided a quorum of 500 total votes is achieved.
Compensation - Portfolio Council members are eligible for 1% of returns from each funding activity undertaken while they served on the Portfolio Council at the time of liquidation.
Responsibility - The Partnership Sub-DAO serves as the entity responsible for identifying, fostering, and maintaining high-quality partnerships. Decisions concerning financial aspects of partnerships, the general strategy for the Web3 Gaming Alliance, and essential product/service offerings will be determined by the Partnership Council.
Composition (subject to change) - The council will consist of an odd number of members, initially set at 7. One team member will be chosen internally by Lizard Labs. Three members will be elected from self-nominated holders of staked $LIZ, and three members will be randomly selected from participating partners. The number of Partnership Council members can be adjusted through a majority vote by the $LIZ Token holders.
Election Voting - The $LIZ Token serves as the governance mechanism for the Partnership pillar. Once the token is launched, pre-seed, seed, team, and staked tokens will be eligible to vote for self-nominated sub-DAO members using shielded, quadratic voting.
Compensation - The three elected members will receive a monthly stipend of $1,500 USD, paid quarterly in $LIZ from the treasury, based on the final value of the $LIZ token on the last day of each month.
Partner Seats Election - Partner projects can stake a predetermined amount of $LIZ to be eligible for consideration for a council seat. Three eligible and interested partners will be selected at the beginning of each term.
Duration - Epochs for the Partnership Council last for six months. If the community determines a council member to be unfit for duty or acting against the best interests of the sub-DAO, their term can be terminated early through an 60% no-confidence vote by participating $LIZ token holders. If more than 60 days remain in the council term, a replacement council member will be selected.
Voting - The Partnership Council is responsible for drafting and voting on key Partnership Improvement Proposals (PIPs). A majority vote of the Partnership Council approves PIPs. If supported by a majority of voting members and requested during a regular meeting, the Lizard Labs team representative will provide an assessment detailing the expected cost, resource allocation, estimated completion timeframe, and impact analysis. Following this, a discussion period takes place. A final vote on the PIP will be held, and if approved by a majority vote, the change will be considered accepted and implemented by Lizard Labs.
Responsibility - The Community Sub-DAO serves as the entity responsible for overseeing interactive products, solutions, and engagement within the Ethlizards community. Solutions in the forms of mini-games, companion games, meta-games, and cross-partner gamification will be a primary focus. In addition to gamification, education, user acquisition, and gamer participation will likewise be key focuses of the Sub-DAO. Possessing an Elemental Lizards NFT or future Ethlizards gaming NFT grants access to and participation in the governance of the Community Sub-DAO.
Voting - Individual proposals can be submitted through Community Improvement Proposals (CIPs). Members then vote on these proposals, which, if approved, will be implemented by Lizard Labs. Initial CIPs must outline general expectations, strategy, and rationale for the proposed change. When most voting members pass the proposal and an appropriate quorum is achieved, Lizard Labs will provide an assessment detailing the expected cost, resource allocation, estimated completion timeframe, and impact analysis. Following this, a discussion period commences. A final vote on the CIP, along with the assessment, will be held, and if approved by a majority of voters, the change will be deemed accepted and implemented by Lizard Labs.
What has historically been referred to as the core team, will work under Lizard Labs to provide operational and development support to implement all approved products, services, and solutions endorsed by the Lizard DAO. Operated by a shared core contributor team, Lizard Labs functions as a separate entity, funded by the Lizard DAO.
The Lizard Labs admin team oversees operations and compensation for core contributors, advisors, consultants, partners, lizard contributors, and all other involved parties. Lizard Labs is committed to equally supporting Lizard DAO and all three sub-DAOs and, when faced with complex and interconnected issues, seeks guidance from the Lizard DAO council.