The Palm Council

How Is PalmDAO Governed?

PalmDAO is governed by representative democracy.

Members propose acquisitions and assets to be created. The proposals are open to discussion for all members.

If there is enough interest, the PalmDAO Council representatives make a final decision whether or not to go ahead with the proposed actions.

Structure And By-Laws

PalmDAO Council is made up of 7 seats: 6 elected PalmDAO members and one Nifty Island team representative. The team representative will have veto power over the council and submit on-chain proposals for approval by the Palm Council.

On-chain Proposals can be viewed here.

Representative Selection Process

All PalmDAO members vote in a quarterly Snapshot election to choose 6 PalmDAO members to represent their interests in PalmDAO Council decisions. A 7th council seat is reserved for a representative from the Nifty Island team.

The elected council members each represent one of the six Legendary Palm tiers: Iron Bronze Silver Gold Neon Ultra

Any PalmDAO member can self-nominate to run for representative. The member must be a holder of a Legendary Palm of the tier for which they are running.

Term Length

There will be no term limits. Each Palm tier will vote every three months for either their incumbent or a new representative.

Should the representative sell their Legendary Palm during their term, their seat will be forfeit and a new election will be held.

Scope Of Power

The PalmDAO Council will serve as the final decision makers for which projects Nifty Island allies with.

This representative voting will make decision making far more efficient than other cumbersome proposal methods. The six tiers of Palm holders will represent the interest of their respective constituencies and there will be one member of the Council with final veto power representing the interests of Nifty Island itself. This veto power will be used predominantly as a safeguard against moving the game in a direction which is not aligned with the vision of Nifty Island more than as a means to disenfranchise users.

The representatives will propose acquisitions for the DAO, but not move any assets, this will be done via multi-sig.

Weekly Meeting Structure

PalmDAO Council meetings occur weekly at a time set by the PalmDAO Council at the beginning of each term. Minutes are published in the #governance channel of the Nifty Island Discord.

At each weekly meeting the Palm Council considers the following:

  1. An update is given on action items, priority to agreed upon NFT acquisitions, from the previous week.

  2. New proposals are discussed and voted upon.

  3. If there is time, ideas and general discussion for new potential initiatives.

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