DAO Constitution

Last updated on: February 05, 2024

Working paper

Introduction

Each participant of DAO MUNDO.PRO (holder of MUNDO tokens) voluntarily accepts this Constitution in full, as well as all other documents providing rights and obligations (Terms of Use, Privacy Policy, Terms of the MUNDO token offer). Any member may promote changes to all or part of this constitutional charter with the prior consent of other members.

The DAO Constitution is an open proposal and collective agreement of the fundamental principles, norms and rules of conduct of the participant, in accordance with which the MUNDO.PRO Community is governed, for everyone who is ready to accept it. The Constitution spells out the voting rules and conditions for governing the DAO in the form of direct democracy.

The offeree agrees to engage in dispute resolution and take reasonable, non-violent action to recognize and restore the property rights of another person using a mutually agreed upon process (e.g. smart contracts). The person who accepts this offer receives confirmation of their ownership and the benefit of an effective process for managing and transferring their rights.

A constitution, combined with governance and a blockchain-based accounting system, is necessary to avoid disagreement. This is achieved through the following processes:

  • The community itself chooses people with common values.
  • The Community has arbitration and relies on an immutable body of international law to determine the legality and relevance of proposed proposals.

In the Constitution, by agreement of the participants, based on open smart contracts (also known as smart contracts) and direct democracy, the DAO is born and rules are established that regulate the internal relations and rights of consensus of the leadership of the Community.

The Constitution establishes the rules of coexistence, distributes any other legal rights between the parties and resolves, through arbitration, disputes and conflicts of interest between the parties.

Each participant must cryptographically sign the DAO Constitution. This creates the conditions for disputes to be resolved in court and demonstrates the extent to which the Community has agreed to a common set of values.

Preamble

We, the founding team of the MUNDO.PRO Community, in order to provide and guarantee certain Rights and obligations between us, as an emerging community, proclaim and establish this Constitution among the participants.

Members of this Community, united by the desire to create a community with the recognition and respect of other users, in an atmosphere of trust to improve the level of relations between participants, constitute the Constitution of the DAO MUNDO.PRO. Commitment to this community agreement requires that users be able to agree according to their free will and affirm the collective agreement.

The DAO (Decentralized Autonomous Organization) community organization is guided by the principles of user equality, democratic values and decentralization, which form the basis of obligations and rights to peaceful, just and prosperous coexistence.

Principles and values

We hold these truths to be self-evident, that by our mutual and express consent to this Constitution we recognize certain reciprocal rights, among which are freedom of choice and the right of property. We agree to live by the principles of honesty, integrity, non-aggression, voluntary association and logical consistency. We recognize that violation of these principles may harm the Rights of other participants. We agree with the principle that if one participant harms the Rights of another, it is responsible for restoring the violated rights of the participant to the maximum extent possible.

An approach

We recognize that participants cannot directly determine the Rights of all other participants; Therefore, we are introducing open smart contracts among ourselves into the Ethereum blockchain network, created and concluded with the mutual consent of various participants to manage the DAO through voting in order to transfer values and rights.

We also agree that software development is an imperfect art and sometimes fails to broker rights between participants in good faith; therefore, Community governance processes need to be established.

Currency

The Community hereby creates a cryptocurrency, which we call the MUNDO token. Ownership of a token indicates the participant’s contribution to the development of the Community, confirms his rights to joint ownership, voting and receiving benefits. The MUNDO token is a digital financial asset whose value depends on the market. The number of MUNDO tokens issued is constant, 100,000,000 (one hundred million). Initially, 88% of MUNDO tokens are locked by a smart contract in the DAO Funds and are unlocked only through the submission of a proposal and voting by participants. There will be no additional issue.

The purpose of the MUNDO token is to represent ownership share, social governance, cost sharing tool, payment for social activities and income distribution.

Ownership of MUNDO tokens is transferable. The supply and demand market will always set the price.

MUNDO token holders have the right to:

  • make proposals to amend this Constitution;
  • participate in the management of the DAO;
  • make proposals on the activities of the DAO and the development of the MUNDO.PRO project;
  • nominate yourself or a candidate for the decentralized administration and be elected;
  • bring a claim against a member or designated body in connection with the activities, procedure or direction of the organization.

Rights

The MUNDO token is a digital financial asset that records ownership and voting rights to a part of an organization, issued by a DAO on the Ethereum blockchain in order to encourage participants, transfer values and rights.

The MUNDO token provides DAO participants with the following rights:

  • The right of shared ownership of the MUNDO.PRO information portal and the DAO smart contract platform;
  • Voting rights: one MUNDO token – one vote;
  • The right to receive income in exchange for tokens through a smart contract "offer of income";
  • The right to transfer ownership rights. The right to transfer ownership means that DAO participants can sell tokens and/or transfer tokens to other people who have an Ethereum wallet;
  • The right to nominate yourself or your candidate for the decentralized administration, be elected and participate in the management of the DAO;
  • The right to make proposals on the activities of the DAO and the development of the MUNDO.PRO project;
  • The right to make proposals to amend the Constitution of the DAO;
  • The right to convene a general meeting of DAO participants;
  • The right to file a claim in court against a member of the board of directors (supervisory board) of the company, the sole executive body of the company, a member of the collegial executive body of the company, as well as the management organization or manager for compensation for losses caused to the DAO by their guilty actions (inaction).

Voting right

Participation in the ownership of the MUNDO.PRO DAO is determined by the acquisition and ownership of the entire unit of the MUNDO token. Each MUNDO token participating in voting gives the right to one vote.

Each DAO participant (MUNDO token holder) receives voting rights. Votes are counted based on the total number of distributed MUNDO tokens participating in voting on voting day, according to the principle of one token - one vote. The DAO participant who voted on the proposal cannot make proposals for voting until the time period for the previous vote ends, since the tokens of the participant who voted are blocked by the smart contract for the duration of the vote.

We also agree not to vote to violate this Constitution. Voting for a permissible change to the Constitution is not considered a violation. Amendments to this Constitution, the creation and launch of new smart contracts of the Community, are subject to approval by vote.

Arbitration and enforcement

The Arbitration Committee is a group of experienced participants elected for a certain period of time, designed to resolve various conflicts related to participation in the DAO, which turned out to be impossible to resolve by other methods. The Arbitration Committee may apply any practicable measures and sanctions that do not contradict the DAO Constitution. Committee decisions are made by a majority of its members.

We agree to resolve all disputes with any participant through the Community Arbitration Committee in accordance with the Dispute Resolution Rules. The costs of arbitration are initially borne by the individual parties to the dispute and then allocated by the arbitrator. We agree that the arbitrators' decision is final and binding. We also agree that the precedent of previous decisions should not be used as a basis for future decisions.

We agree that the decisions of the arbitrators have no force over smart contracts and transactions that are included in Blocks. Arbitrators may not exclude transactions from new Blocks to enforce arbitration awards.

Smart contracts

A smart contract, or smart contract, is the name of a computer code or condition, under which, participants in a DAO can safely exchange their assets. The created smart contract runs on top of the Ethereum blockchain and works exactly as programmed - it cannot be changed, it cannot be interfered with by a third party, stop its work, or cheat.

The MUNDO.PRO DAO community published five open smart contracts on the Ethereum blockchain network:

  1. Smart contract for issuing MUNDO tokens on the Ethereum blockchain network.
  2. Smart contract for direct voting of DAO participants.
  3. Smart contract of DAO funds.
  4. Smart contract "offer of income" in exchange for MUNDO tokens.
  5. Smart contract "safe transaction".

DAO MUNDO.PRO is a set of smart contracts on the Ethereum blockchain platform for managing a decentralized autonomous organization (DAO) and creating secure conditions for transactions between Travel Providers and Users. Smart contracts for managing DAOs allow MUNDO token holders to receive passive income in exchange for MUNDO tokens, make proposals, vote and participate in the development of other contracts in the future.

Generating income

The holder of MUNDO tokens can receive income from the activities of the MUNDO.PRO information portal in exchange for MUNDO tokens. The DAO will quarterly offer for distribution income (if any) in the Ethereum cryptocurrency (Ethereum, ETH).

DAO participants will be asked to make an "income offer" to the smart contract through their personal account https://dao.mundo.pro/ MUNDO tokens, which they are ready to allocate for exchange in order to receive the income proposed for distribution. 72 hours after the proposal is published, acceptance of tokens ceases. The smart contract calculates the cost of one token in Ethereum (ETH) based on the total number of tokens contributed by DAO participants to the amount of income proposed for distribution. If a DAO participant does not agree with the settlement price, he can withdraw (return) the deposited tokens from the smart contract within 12 hours. If the DAO participant agrees with the calculated price of the token, then 12 hours after the end of the time for depositing tokens, the participant will receive Ethereum to his wallet address for the deposited tokens in his personal account on the page https://dao.mundo.pro/ in proportion to the DAO tokens contributed to the smart contract.

Decentralized administration

The decentralized administration of the DAO is formed from members of the Community. Each MUNDO token holder, regardless of the number of tokens he owns, can nominate himself or nominate his delegate to the decentralized administration, be approved, and vote for other participants. The composition of the DAO administration is elected by the holders of MUNDO tokens by submitting a proposal for a specific participant proposed to the decentralized organization, through voting in the DAO personal account implemented on a smart contract.

The main task of the DAO administration is to monitor and ensure the continuous operation of the MUNDO.PRO information portal for the purpose of further development and scaling throughout the world.

When the free distribution of MUNDO tokens from the smart contract of the DAO Foundation (70% of tokens) ends, the DAO administration will begin to buy tokens from Community members through a public offering of prices for the Ethereum (ETH) cryptocurrency. This is the beginning of the capitalization of the MUNDO token and the condition for submitting a proposal for consideration to the participants of the DAO to register a legal entity of the Non-Profit Fund MUNDO.PRO for the purpose of listing the MUNDO token (the procedure for admitting a security to trading on the exchange).

The non-profit fund will be a modern company using various opportunities and means necessary to make a profit in many directions in order to develop and scale the DAO. The motivating means of activity are economic and human relations, which are structured in interdependent functional areas for the pragmatic and effective achievement of goals. On the one hand, ecosystem participants will face certain restrictions, but not restrictions related to economic resources for the development of the DAO and the MUNDO.PRO information portal. Therefore, open budgets and smart contracting procedures will become tools for development and at the same time control of healthy and transparent evolution in a goal-oriented way.

The administration of the company, led by the General Director and directors of functional areas, will represent and protect the interests of DAO MUNDO.PRO on behalf of the legal entity, maintain accounting and reporting, report to members of the Community, pay taxes and transfer profits from the company’s accounts to the Ethereum cryptocurrency (ETH) the address of the Ethereum smart contract of the DAO wallet, from where part of the ETH through the "offer of income" smart contract will be offered to the DAO participants in exchange for MUNDO tokens.

The administration of the DAO will be completely decentralized, and the participants of the DAO will annually elect delegates to the decentralized administration to manage the activities of the Community (liquid democracy).

Functional areas (divisions) will be directed by managers who will serve as supervisors. The contribution of all areas to their own purpose and the contribution to communication, communication and interaction with other areas are aimed at the totality of forces pointing in a single direction, the same for all, achievable pre-established goals.

Holders of MUNDO tokens, through continuous voting, control the composition of the decentralized administration of the Community.

Composition of the decentralized administration:

Finance Committee

  • control over expenses, invoices, taxes, profits, income distribution, contracts, consolidated budget management, support from questions and reports;

Editorial Committee

  • control of publications, advertising, contracts, budget, statistics and geographical distribution, support from questions and reports;

IT committee

  • monitoring the implementation of the roadmap plan, contracts, budget, functioning of the information portal, project development, studying initiatives and viability, support from questions and reports;

Business Committee

  • development and evolution, control initiatives, projects and initiatives, partners, marketing, communication with professionals, budget, support from questions and reports;

CEO и Institutional (Director General and Institutional Authority)

relations with users, partners and institutional partners, relations and forum of partners, board of directors, control of voting and opinion flows, standardization and procedures, corporate health, oversight and synergy of the four functional areas, their committees and authorized participants (Delegates), communication with partners and users, reports;

"Manager" is a subcategory of "contractor"

To ensure the stability and continuity of development of the DAO, leadership positions should not be re-elected more than once a year. This subcategory has a specific parameter - the duration of the moratorium. This is the minimum period for which a manager is appointed. The moratorium cannot exceed 365 days. Of course, managers can resign voluntarily.

Advisors and professionals:

Each committee will have several experts for consultation and cooperation. The most important for third parties (partners and institutional partners) are auditors in the economic field and IT technology. The most important areas for the company are the publication area, users and business partners.

The DAO system makes corporate jurisprudence unnecessary, since all interactions between participants are carried out using smart contracts, which initially set rules acceptable for the vast majority of participants in the ecosystem and ensure ease of concluding contracts, unlocking funds, distributing income, conducting transactions, etc. d. In its completed form, the DAO is absolutely autonomous and maximally automated, and also, its functioning no longer depends on the creators and developers of the project. With the development of the digital crypto-economy, the DAO can move to full automated decentralization, which will make it completely independent of regulators.

Amendments

We recognize that this Constitution and other key documents may only be amended or replaced by express approval by vote in accordance with the Voting Rights Clause within a continuous period of 30 days.

Miscellanea

Choice of law

The choice of default law for resolving disputes between participants is based on principles of fairness.

Instances

This Constitution may be made in any number of copies, each of which when executed and delivered shall be a duplicate of the original, but all copies together shall constitute a single agreement.

Consensus

The blockchain must use the Delegated Proof of Stake (DPoS) consensus algorithm combined with transactions as proof of stake (TaPoS).

Consideration

All rights and obligations under this Constitution are reciprocal and have equal value and value to all parties.

Developer Responsibility

We also agree to hold software developers harmless for unintentional errors made in expressing contractual intent in the quality of the software, regardless of whether said errors were the result of actual or alleged negligence.

Notification

Any required notification (such as a ballot proposal) may be sent through the mailing service and/or instant messenger by posting a message to the participant's account.

Copyright

We agree that any information published on the blockchain irrevocably becomes public domain to the fullest extent possible. Any participant can use any information, ideas, patents or other documents on the blockchain without restrictions, fees, attribution or guarantees. We agree that we will only publish information on the blockchain that is within our Publication Rights.

Key documents

We include the following documents in this collective agreement: Terms of Use, Privacy Policy, Terms of the MUNDO token offer.

Electronic signatures

All participants, whether natural, legal or otherwise, agree to this Constitution by signing a transaction that includes a hash of this Constitution, and the transaction is accepted by the producers and included in the Ethereum blockchain.

Termination

A Member shall be automatically released from all mutual obligations under this Constitution 3 years after the last transaction signed by that Member that included a cryptographic hash of this Constitution.

Divisibility

If any part of this Constitution is declared unenforceable or invalid, the remainder shall remain in force and enforceable.

Once a person has given consent, he is considered a participant, bound by the provisions of this Constitution and entitled to reasonable access to the blockchain in accordance with his position in the Community and any arbitral awards.

The future of decentralization is not just a better internet, it is a better capitalism, an experience of democracy and a fair sharing economy where prosperity is shared and wealth inequality no longer exists.

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