Goo Glitz needs to start building up a better treasury. We are going to be changing the royalty distribution on Gen1 to send 50% of all secondary sales into the Goo Glitz Treasury.
But we don’t want to make this change and just leave those treasury funds under the centralized control of the project creators. We want every single move to be decided by the community, which is why the treasury wallet is going to be a multisig wallet governed by holders through Realms and a governance token.
Using Realms, anybody will be able to make proposals on how to move the new Goo Glitz vision forward and everybody who has been holding a Goo will be able to have a fair say in whether that proposal goes through or not.
<aside> 💡 Learn more about how Realms works here.
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There is an established project on Ethereum which has a very similar governance system: nouns. I have been following nouns governance and it is exciting to see examples of the kinds of brand-building proposals I want to see in our Goo DAO. I would encourage any of you interested in proper NFT DAO governance to observe nouns.
Noun #202 from nouns.wtf
One of the recent nouns proposals that caught my attention was the “30 days of nouns colouring book” that was passed in January with a vote of 51-0. You can buy the book an amazon right now; the point of the proposal was to push nouns into mainstream culture. I think this is the perfect example of what we can achieve with the DAO. The colouring book proposal builds the nouns brand in a fresh way and has the potential to bring new audiences to the NFT space, while also giving a specific nouns supporter a financial benefit.
See the nouns proposal here.
Of course, the proposal system will also be used to democratize more basic management of the Goo Glitz treasury. For example, the community may decide on things like which stablecoin lending protocols or farms a portion of the treasury should be placed into.