Preamble
The Cardano Blockchain gives everyone access to a decentralized consensus mechanism where they can participate in a trustless, transparent, and immutable environment if they so choose. Anyone can participate. Anyone can be a Stake Pool Operator.
Section 1: General Rules
There will be no unenforceable rules in the Constitution. If something cannot be controlled and settled by a smart contract in a trustless manner, it must be handled by a Members Based Organization (MBO). This Constitution governs a Blockchain. If you want a rule, make a CIP.
Process for making a CIP
Section 2: Budget
The total Cardano Budget shall be determined algorithmically. (I put a framework for this in ICC civics)
- Algorithm for determining total budget here
- Mechanic for splitting budget distributions to MBOs here
Distributions from the treasury require on-chain voting by Delegated Representatives (DReps) with voting power determined by delegated stake. Different actions can have different voting rules and stake calculations if defined by a CIP.
- Algorithms that change voting power/weight go here
Cardano Treasury Distributions must be routed through and governed by a Members Based Organization that meets the following requirements:
- Requirements
Cardano Treasury actions and distributions are meant to become more decentralized over time. When a region/group meets these requirements, it can choose to become its own MBO and will be algorithmically appropriated a portion of the treasury:
- A specified percentage of transaction volume
- A set level of SPO delegation to associated Stake Pools
- An MBO meeting the requirements delineated in Section 2
- Other requirements
Stake Pool Operators
Anyone can be an SPO as long as they perform to standards. Stake Pool Operators can have their keys removed and be removed by a vote of 51% of SPOs if:
- They fail to produce 2 or more blocks in a timely and effective manner as defined by:
- Definitions here
- They participate in a scheme that allows third-party software to scan the mempool and build blocks with reordered transactions.
- Other reasons that can be added
Delegated Representatives
Delegated Representatives are governed by these rules:
- Process to become a DRep:
DReps shall be able to vote in only one region/group as defined by Section 2 Part 4 for treasury disbursements.
- Expanded listā¦