Staking & DAO

Governance vesting to a DAO

Governance is designed to move towards a true Decentralized Autonomous Organization (“DAO”), it is essential that in the early phases of the transition, Ready ensures governance stability in the ecosystem’s nascent phases. Thus governance vests independently of the actual stakeholder contributions in the Staking Vault.
With regards to the staking system, the goal is to move over a three-year period to a decentralized organization by 2025. Governance vesting occurs in time-based tranches:
Phase
Rights
Version 0 - February, 2022 / Token generation event
None. Decisions in the first phase are handled by Ready.
Version 1 - Q2 2022
$RDYX holders can stake their tokens through the staking mechanism and participate in governance votes brought forward by Ready.
Votes in this phase primarily focus around which devs and creators should receive token incentives to join the ecosystem, from the Ecosystem Fund.
Version 2 - Q1 2023
More votes related to smaller issues.
Ready continues to control what comes up for a vote.
Possibility to expand voting methods to normalize between smaller token holders and larger token holders (e.g. Potentially changing the way votes are being counted from 1 token 1 vote to Quadratic voting.)
Version 3 - Q1 2025
Decentralized Organization
Ready no longer controls the voting agenda.
$RDYX holders determine which governance framework should be used and how much should be voted on. Some decisions will not be up for debate such as token supply which is iron-clad in smart contracts.
Potential things that can be voted on:
Should the ecosystem continue to pay Ready to develop and manage it?
Should other utility tokens be directly integrated into the ecosystem?
How should the Ecosystem Fund continue to operate?
In addition to governance rights, staked $RDYX generates “Staking Rewards”. Staking rewards are funded out of the Ecosystem Fund.
Note: any rewards for staked player objects related to FuseBlocks contracts are not envisoned to include governance rights. 

Cap table

Technical Specifications

Last modified 4mo ago

Phase	Rights
Version 0 - February, 2022 / Token generation event	None. Decisions in the first phase are handled by Ready.
Version 1 - Q2 2022	$RDYX holders can stake their tokens through the staking mechanism and participate in governance votes brought forward by Ready. Votes in this phase primarily focus around which devs and creators should receive token incentives to join the ecosystem, from the Ecosystem Fund.
Version 2 - Q1 2023	More votes related to smaller issues. Ready continues to control what comes up for a vote. Possibility to expand voting methods to normalize between smaller token holders and larger token holders (e.g. Potentially changing the way votes are being counted from 1 token 1 vote to Quadratic voting.)
Version 3 - Q1 2025 Decentralized Organization	Ready no longer controls the voting agenda. $RDYX holders determine which governance framework should be used and how much should be voted on. Some decisions will not be up for debate such as token supply which is iron-clad in smart contracts. Potential things that can be voted on: Should the ecosystem continue to pay Ready to develop and manage it? Should other utility tokens be directly integrated into the ecosystem? How should the Ecosystem Fund continue to operate?