Gyaan DAO Foundation

OVERVIEW

This section outlines the structure of a Decentralized Autonomous Organization (DAO) to be governed by community members who lock GYDAO, a decentralized ERC-20 token that the community intends to serve as the primary token for governing the Gyaan Protocol.

PURPOSE

Gyaan Labs (“Gyaan DAO Foundation”) will serve the Gyaan DAO by fostering a community ethos of dialogue and innovation, and will provide the frameworks necessary for running the decentralized governance on both a granular and a macro level.

To achieve this, it is important to ensure that the processes of proposal submission and voting are restricted to Gyaan DAO members. The sole requirement for membership in the DAO is to have any given amount of GYDAO tokens held within Gyaan’s multiFee Distribution smart contract (hereby referred to as “locked GYDAO”).

A user’s balance of locked GYDAO will proportionally represent their voting weight on all proposals.

In alignment with the Foundation’s core value of transparency, all preliminary discussions, proposals, votes casted and outcomes will be publicly available to view.

FOUNDATION & VALUES

Gyaan DAO Foundation, which serves the Gyaan DAO community and be governed by it, aims to be the executive arm of the Gyaan Ecosystem by implementing the consensus-driven will of the Gyaan DAO.

The Gyaan DAO community will have the power to submit proposals, vote on proposals, monitor, and make sure that’s implemented in the Gyaan Ecosystem

Gyaan Foundation core values:

Innovation & Iteration: Accelerate innovation across ecosystems and iterate it.

Adoption & Determination & : Nothing is permanent, need to adopt with the changes, either change or perish and determination to change.

Transparency & Implementation: Need to crystal clear in every decision thought and implemented.

Accountability & Ownership : Taking ownership and responsibility for everything whether its good or bad is the quality of legends.

COUNCIL

The Council plays a supporting and coordinating role for work contributed by the Gyaan DAO ecosystem’s decentralized community of users (the “Community”). However, it is the Community’s responsibility to develop the GYDAO DAO ecosystem and make proposals to guide the long-term strategy of the Foundation and the GYDAO DAO.

COMPOSITION

Seven (7) persons as Permanent Members appointed by a plurality vote of locked GYDAO Tokenholders, appointed by the directions of the Gyaan Foundation pursuant to and evidenced by the GFP Process.

Each member will represent their Continent and 2 reserved members 1 each from Asia and Africa.

There will be 60 Council members from 5 Zones

a. Asia Pacific

b. Europe

c. Africa

d. North America and

e. South America

12 members will be nominated from each zones who will represent their geographic community.

TERM LIMITS

Inaugural Council will serve for an initial period of six (12) months term, beginning on September 06, 2024. Subsequently, the 12 new council members will be chosen every 6 months by a vote of locked GYDAO token holders., pursuant to and evidenced by the GFP process.

The Second Council will be voted in on March 7, 2025.The cycle will be repeated to replace 2 new members every 6 months.

A Council member may be removed and replaced prior to the term pursuant to a 2/3rds majority vote of locked GYDAO token holders.

Any holder of ≥1,000, 000 locked GYDAO may nominate a candidate to serve on the Council.

AUTHORITY & RESPONSIBILITIES

Fund transitions by the Gyaan Foundation from the Treasury, including employment contracts and grants to support Community development.

Sign transactions from the Council Multisig to ensure that an approved GFP receives sufficient signatures (even if the Council member had voted “no” with respect to that GFP).

Attend bi-weekly meetings, vote on GFPs, and attend unofficial Community events hosted by the Gyaan Foundation and ecosystem members organized in their geographical region. Council Members may choose the frequency with which they perform these activities at their own discretion, bearing in mind that if they fail to adequately represent the Community due to infrequency of participation, they may be removed as a Council Member by other Members.

Pursuant to GFPs, perform adjustments to economic parameters with respect to GYDAO; provided that, in the instance of an Emergency Meeting as described below, the Council may perform adjustments to economic parameters with respect to GYDAO pursuant to a majority vote of Council Members.

Coordinate Emergency Meetings on behalf of the Community, GYDAO Tokenholders or the Foundation, pursuant to a majority vote of Council Members. This enables Council to rapidly respond to any imminent security threats to the Gyaan ecosystem.