# DAO Governance

Nutbox DAO was established to support the long-term development of Nutbox Blockchain, and its funding comes from 10% NUT that flows into the DAO treasury.

# DAO Fund

In the long term, the series ofNutbox protocols are completely controlled by the holder of NUT POWER. The holders of NUT POWER can vote the proposal. After the process consensus is formed, the consensus will be turned into a protocol through proposal + treasury allocation. In the end, DAO Fund managed by the holder of NUT POWER as appropriate.

# DAO committee

Since Nutbox is a decentralized community governance, in order to adapt to the changing environment and support continuous contributors, the DAO committee handles daily affairs. Before the early release of cross-chain staking protocol, the DAO committee made decisions on behalf of the community, but major decisions must be committed by the community in the form of proposal voting.

The DAO committee is voted by NUT POWER holders. Once the members of the committee are elected, they will serve for six months and are subject to community supervision. No less than 10% of the Nutbox treasury NUT is awarded to the DAO committee to encourage community members to make quick and small daily contributions to Nutbox.

# Voting proposal

Nutbox started governance in a decentralized manner through the governance module from day one. This allows NUT POWER holders to control the agreement, and only with the approval of NUT POWER holders can the agreement and financial management be updated.

# Process

The governance process starts with the submission of a proposal, and the community can discuss the proposal. Any individual or organization that meets the requirements can submit a proposal. Holders of NUT POWER can vote on the proposal after full discussion.

If the proposal snapshot is passed and can be directly executed through the standard contract, the approved action will be executed immedietely. If code deployment is required, after the code is developed, it will be deployed after auditing and re-governance voting.

# Prerequisite

Before submitting the proposal, the user must transfer 10000 NUT to the State Treasury, and the 10000 NUT will be refunded after the proposal passes the preliminary review. The transfer amount will not be refunded if it does not meet the basic requirements. VOTING POWER can be set according to the situation:

  1. Each staking NUT is equivalent to 1 VOTING POWER;
  2. Each PNUT in the NUT-ETH pool or NUT-DOT pool is equivalent to 4 VOTING POWER;
  3. Indicators determined by other communities;

Threshold of proposal approval: (consent vote minus veto vote)/(all candidate vote)>30%