Transforming DoodleBank: A Focus on Community Empowerment and Holder Rewards

On March 31, the NFT project Doodles announced an amendment proposal on official Twitter to seek to transform its project treasury, DoodleBank, with a focus on community empowerment and holder rewards, streamlining funding, and improving governance. According to the proposal, the new Doodle Bank will appoint a founding community committee and establish a community based governance model, remove the $100000 business license limit for approved projects, enable community members to think creatively about innovation, strengthen supervision and communication, replace snapshot proposal voting with council and team approval, remove quorum requirements, and strategically adjust incentives.

Doodles Community initiates a proposal to amend the renovation project treasury, including the cancellation of the commercial license limit of $100000

If you are an active player in the NFT universe, you’ve probably heard about Doodles – the ultra-rare, hand-drawn NFT collectibles that have been taking the market by storm. These one-of-a-kind doodles represent a new wave of digital art and have become so popular that their developers recently proposed a ground-breaking amendment to transform the project treasury, DoodleBank. In this article, we’ll explore the proposal and what it means for the future of the Doodles community.

Overview of the Proposal

On March 31, the Doodles team announced their amendment proposal via their official Twitter account with the goal of fostering communal creativity and innovation. The proposal seeks to revamp DoodleBank by introducing a community-based governance model that empowers holders and streamlines funding channels. Here are the main points discussed in the proposal:

Founding Community Committee

The new DoodleBank will appoint a founding committee to ensure that the transition is well-planned and properly executed. This committee will play a crucial role in overseeing the project’s finances and facilitating communication between the team and the community.

Community Governance model

The amended Doodle Bank will introduce a community-based governance model that would give community members more control over the project. This model is expected to improve overall project governance, increase transparency, and support innovation from the community.

Removing the $100000 business license limit

The proposal seeks to remove the $100,000 business license limit, which will enable members to think creatively about innovation and investment opportunities for the project. This change will promote healthy competition among developers and other contributors.

Strengthening supervision and communication

The team is planning to improve communication channels with the community and strengthen supervision. They intend to create a process for members to report incidents, share ideas or feedback, and encourage inclusive community discussions.

Proposal voting

The Doodles team plans to replace snapshot proposal voting with council and team approval. This will help to streamline the decision-making process and make sure that the project’s overall vision and goals are aligned with the community.

Removing quorum requirements

The amendment proposal aims to remove quorum requirements, which will make it easier to make decisions, even if only a small number of people are present for a vote.

Strategically adjusting incentives

Finally, the amendment proposal also seeks to strategically adjust incentives to encourage members to actively participate in the new governance model, contributing to the project in their unique ways.

Implications for the Doodles Community

The DoodleBank amendment proposal is a game-changer for the Doodles community. By giving more power to holders, it strengthens the community’s sense of ownership and unity. The amended governance model is expected to increase transparency, accountability, and collaborative work in the project. This new system will also foster innovation and creativity among developers and other contributors by enabling them to come up with new ideas without the $100,000 limitation.

Conclusion

The Doodles team is planning to transform DoodleBank, creating a new and improved governance structure that puts the community at the center of decision-making. The new system is expected to increase transparency, accountability, and make it easier for members to contribute to the project. This amendment proposal represents a significant change that will benefit the Doodles community in the years to come.

FAQs

1. Will the new governance model lead to a massive increase in spam proposals?
No, the governance model has built-in checks and balances to prevent spam proposals from disrupting the system.
2. What is the Founding Community Committee, and how will they function?
The Founding Community Committee will oversee the transition process from the current system to the new governance model, working closely with the team and community members.
3. How can I participate in the new governance model as a Doodles holder?
You can join various community channels, participate in discussions, and attend governance meetings to make your voice heard.