JMC DAO Whitepaper
  • JMC DAO PROJECT SUMMARY
  • PROBLEM STATEMENT
    • New ways for organizing investment funds on blockchain
    • The main common problems of modern "early" DAOs and JMC solutions
    • Stakeholders — who need DAOs?
  • COMPETITION
    • The DAO model / framework
    • DAO setup wizard
  • THE JMC DAO MODEL
    • Operating Sheme
    • Basic Version
    • JMC DAO Member Roles
      • DAO Participants / Token Holders
      • Panel of Experts
      • Council of Protectors
      • Manager
      • Project Manager
      • Agent
    • DAO Treasury
    • DAO Tokens
    • Voting Mechanism
      • Voting on Proposals
        • 1. List of Proposals
        • 2. Voting Queue
        • 3. DAO Voting Type I
        • 4. "RageQuit" Timeout
        • 5. Execution
      • Voting on Investment Projects
        • 1. Experts & Protectors Vote
        • 2. Voting Queue
        • 3. DAO Voting type II
        • 4. "RageQuit" timeout
        • 5. Execution
  • THE "DAO SETUP WIZARD" PLATFORM
    • WALLETS AND TRANSACTIONS
    • DAO SETTINGS AND PLANNED FUNCTIONALITY
      • 1. DAO tokens
      • 2. DAO Token Holders, Experts, Protectors, Manager, Agents
      • 3. DAO Treasury
      • 4. Classes of Standard Proposals
      • 5. Proposals
      • 6. Investment Projects
      • 7. DAO Voting
      • 8. DAO Design
  • THE DAO LEGAL WRAPPER
  • MONETIZATION
    • "Freemium"
    • $10B Growing Market
  • THE PRO TEAM OF 4 CEOs
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  1. THE JMC DAO MODEL
  2. Voting Mechanism
  3. Voting on Proposals

4. "RageQuit" Timeout

All DAO participants, who voted against the accepted Proposal/Investment Project have the right to withdraw from the DAO by exchanging their GT for a proportional part of the DAO Treasury tokenized assets as of the end of the DAO Voting (the "RageQuit" procedure).

The GT tokens received by the DAO Treasury as part of the procedure are immediately burned. If the Treasury is unable to transfer a number of tokens to the participants "external" wallet, it will offer to create a wallet on the Platform and transfer the tokens to it.

"Ragequit" does not occur and, in this case, the corresponding DAO Voting decision is canceled if at least one of the following conditions is met:

1. As a result of the "RageQuit" procedure, at least 25% (V) of the total number of GT tokens are withdrawn from the DAO;

2. The amount required to implement the Proposal/Investment project is larger than the amount of DAO Treasury assets minus payments from the Treasury under the "RageQuit" procedure.

The "RageQuit" period is T3=24 hours. The stage is not activated if no one voted against the Proposal/Investment project.

In the future, it is planned to provide the option of creating a DAO fork (copies, but with other participants) on the Platform for large GT cases of implementing the RageQuit procedure.

Previous3. DAO Voting Type INext5. Execution

Last updated 2 years ago