Governance - Minglo: Web3 Open Data Ecosystem for Well-Being

Governance structure

Decentralized governance supporting growth

Minglo employs a Decentralized Autonomous Organization (DAO) to achieve inclusivity, decentralization, and transparency in its operations.
Utilizing blockchain technology, the model enables transparent and automated decision-making while also distributing decision-making authority across the community.
Initially, the decision-making power will be centralized among core members to protect the project's vision and technical efficacy. As the project matures, the governance will transition to a fully decentralized DAO. The platform has chosen to use the "Governor Bravo" governance framework, which is simple, decentralized, and modifiable to fit varying stages of maturity and decentralization.

Minglo uses its native $MGL tokens to give governance participation rights proportional to token holdings. Over time, all decisions will be made by the DAO, ensuring a scalable and tamper-resistant system.

Transition of Governance

Transition to a DAO Accompanied by Economic Autonomy

Minglo's decentralized autonomous organization (DAO) initially operates under a council selected by core members. This council holds all decision-making power until the ecosystem becomes financially self-sufficient.New council members can only be added by invitation and voting, and they must deposit a specific amount of $MGL tokens.
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Eventually, governance will transition to representatives elected by token holders. The system mitigates common DAO issues like apathetic voters and malicious actors through a representative and delegation model. Representatives must meet stringent criteria and operate within defined scopes of authority.

Stakeholders

The components that make up Minglo's governance

A mature, decentralized, and fully self-determined DAO will become the sole governance institution for Minglo. To understand Minglo's governance system, we introduce its main stakeholders and elements.

$MGL Holder

$MGL token holders have the power to directly participate in the governance of Minglo DAO, with their decision-making influence proportional to the amount of tokens they hold.

The token is used in voting processes that finance the implementation and operation of the platform.

Additionally, it serves as a medium for distributing rewards, incentivizing active community engagement in voting activities.

The token also facilitates the delegation of voting rights, thereby enhancing the ecosystem's sustainability and reinforcing its democratic ethos.

Delegates

Delegates in the Minglo ecosystem are elected by $MGL token holders and are granted the authority to make governance decisions on their behalf.

These delegates are instrumental in addressing common DAO governance challenges such as voter apathy and malicious activities. To qualify, delegates must meet stringent criteria, including a high level of commitment, understanding, and expertise.

The system is designed to allow for re-delegation of votes to maintain accountability. Delegates operate within the confines of a Commitment Agreement and generally can't endorse or initiate proposals contrary to Minglo's mission.

They also participate in specialized committees, adding expert insight to governance decisions.

Guardian

The Guardian serves as a security mechanism for the Minglo DAO.

Initially, the role will be assigned to an Ethereum address controlled by existing core members. Its primary function is to cancel any unexecuted proposals, providing an extra layer of oversight.

Once the delegate body is active, the Guardian role should transition to a community-owned multi-signature smart contract. Delegates or those associated with them are ineligible for this role.

The Guardian has veto power over its own selection and receives compensation to ensure timely fulfillment of its responsibilities.

Council

The initial Council in the Minglo DAO is a centralized body selected by early core members, responsible for all decision-making until the ecosystem becomes economically self-sustainable.

This Council conducts vesting and voting, accepts new Council members, outlines business direction, and proposes changes to the Minglo ecosystem's features, security, and functionality.

New members can only join if invited by an existing Council member and approved by a vote. They are also required to deposit a predefined amount of $MGL tokens to ensure their commitment.

The Council serves as a fast, secure decision-making body before transitioning to decentralized governance via elected delegates.