$DBK Educational Series #1 — Rugpull

Multi-sig Treasury — 60% community controlled

So, how can funds be removed from the Treasury?

Operating procedure

  1. Team to raise a proposal within the community on potential fund use from the Treasury.
  2. A voting session will begin, and the community to be informed on Telegram.
  3. Once a voting session has concluded: If a fund use proposal is rejected by the community. Nothing happens. And, if an illegal fund use execution is carried out by the team, the fund guardians should reject the execution outright, ensuring that the team does not receive the required keys from the fund guardians for fund approval. *This would not be a smart move, as the team will erode the trust of the community for a malicious act, be it successful or not.
    OR
  4. Once a voting session has concluded: If a fund use proposal is accepted by the community. The team will carry on, and propose a fund use execution on the Treasury. As the team only possesses 2 out of the 5 keys, at least 2 fund guardians will need to be approving the execution by signing on it using their wallet. *All fund guardians are KYC-ed internally as requested by the community in an earlier vote **All fund guardians should act on behalf of the community, and not individually. Thus, fund guardians should only act in response to the result of the voting session.

$DBK allocation

  1. All admin and minter roles have been renounced.
    This means that nobody can further mint any $DBK in the future.
  2. All $DBK tokens sent to the Treasury.
    This means that the $DBK tokens are under the custody of the DbookDAO Treasury. The team does not own any $DBK at this point. Any future movement of $DBK will require the approval of the community, and the keys held by fund guardians and the team.

So, what’s next?

“The man who does not read has no advantage over the man who cannot read.”

Telegram: https://t.me/dbookdao

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

The Future of Cyber Attacks

Weekly update from PointPay (July 26 — July 30, 2021)

{UPDATE} Social Mania Fun Slot Hack Free Resources Generator

How to Fix the SSL Connection Error on Android?

Enterprise Scale Threat Hunting with Process Tree Analysis

{UPDATE} E.G. Chess Hack Free Resources Generator

Weekly update from PointPay (July 12 — July 16, 2021)

What the New IRS Nonprofit Tax Form Policies will Mean for Your Nonprofit

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
DbookDAO; Distributed Platform Ownership

DbookDAO; Distributed Platform Ownership

Telegram: https://t.me/dbookdao

More from Medium

Blockchain 2022: This Is What CEO of Lambda256 Foresees

COTINUUM PROJECT

DAO operations made easy with Yodaplus Multisig Vault

EPNS: A notification service to save your time and assets