Olympus DAO

Proposal

The Olympus council would like to propose several amendments to the original OIP-91, including introducing a re-election framework, reporting requirements, the number of council members, and several miscellaneous improvements.

• The council proposes a 1-year term for elected council members

The council will be put up for a vote of confidence, voted on by OHM holders

If the vote of confidence passes, the council is elected for a period of 1 year

If the vote of confidence fails, an election process will take place to elect a new council

The election will be done by DAO contributors above level 4 (full time equivalent). This is an interim solution until we can cement this in an OCG structure. The framework for replacing council members during this term remain unchanged (see OIP-91)

• The council proposes formalizing the reporting requirements by the council

We propose a council update every other month within the DAO

We propose a council update every other month for the community

• The council proposes reducing the number of council members from 7 to 5 to reflect the changes in overall DAO size and structure.

Council Framework

To offset against major holiday periods, we suggest the term to start in February.

(Re-)Election procedure

In the last week of January and July, a vote of confidence will be posted on snapshot (or any future governance platform) to poll if the community is in favor of continuing with the current council composition or if it feels changes are needed. To aid this process and give the community insights into the current workings of the council, a council update should be provided before going to a vote.

The choice for not doing a full re-election process every 12 months is done to reduce overhead, avoid friction and keep the focus on building out Olympus as opposed to time-consuming election processes. If, however, the OHM holders are dissatisfied with the performance of the council, we propose the following framework:

We propose a 2-week election timeline which would start immediately after the conclusion of a negative vote of confidence.

Week 1:

DAO contributors can flag their desire to run for council during this week in a public channel in the DAO server, to avoid any risk of censorship. During this week, candidates should lay out their motivations and vision for Olympus. Additionally, they should explain what they would bring to the council.

Week 2:

At the start of week 2, all candidates who have submitted their motivation will be able to present this to other DAO contributors during a voice call in the DAO, the order of presentation will be randomized to prevent any favoritism.

After this call, a blind vote will take place where DAO contributors above level 4 will be able to cast votes to the amount of council seats. We opt for a blind vote to reduce animosity and friction between DAO contributors.

In case two or more contributors have the same amount of votes, another round of voting will have to be executed with only these candidates on the ballot.

After the conclusion of the voting round(s), a vote will be presented to the community to confirm the composition of this council.

In case of a positive vote, a hand-over will take place between the original and new council members to ensure a smooth transition. During this time, the previous council is still active. If the vote gets rejected, the process will have to start over again until a council is approved by the holders.

The newly elected council will take its place at the start of the next week on Monday and will present themselves to the community during the first following community call.

This proposal combines both ownership of the OHM holders, who ultimately will have the power to push for a new council while still giving a voice to the DAO contributors, who will have to execute the vision of the council and has unique insights into the capabilities of the candidates.

Council size We propose the reduction of council members from 7 to 5 for the following reasons:

• Since the introduction of the first council, the DAO has consolidated significantly. We feel it is appropriate for the council to be smaller as well.

• The reduction would increase the efficiency of the council. In the past cycle, it could be difficult to get the opinion of 7 members at the same time.

• The cost of the council would be reduced, leaving more budget for other departments.

• Zeus has not been an active council member and has been acting more as a senior advisor to Olympus, a capacity he will still be involved in going forward.

• Indigo has indicated that he would like to step down from the council for the next cycle to focus more on development. The remaining council members are Apollo, Hohmward, Jala, Shadow and Wartull

Update on reporting requirements

The council has evaluated feedback both from the community and the DAO contributors and identified the need for increased transparency on the workings and decisions of the DAO. For this, we propose:

• A council update every other month within the DAO
• A council update every other month for the community

A community Q&A was conducted on Thursday the 2nd of February to address community questions on the roles and responsibilities of the council.

Poll (Have to limit because of limited Characters)

For:

1. Keep current council in place and implement proposed changes => Keep Council + Impl Changes 2: Keep current council and amend proposed changes => Keep Council 3: Change current council and implement proposed changes => Change Council + Impl Changes

Against: Remove current council and proceed with election procedure => Change Council