# Introduction

Summary of who Governor DAO is and what we do.

Governor DAO is a Wyoming-based Decentralized Autonomous Organization positioned as the “DAO of DAOs”. Governors offer a suite of products and services for projects looking to build DAO qualities in their communities. Our offerings include an industry-first Sybil-resistance product for one-voice-one-vote[ governance](https://blog.governordao.org/2020/10/18/governor-gdao-state-of-the-union/) and as governance bootstraps for new communities, consultations, and smart contract porting.

A proper DAO model is more efficient and has better scaling than the traditional corporation. In the future, many physical and digital businesses will operate as DAOs. Functioning as a DAO is another step in the right direction for GDAO to help guide the DAO revolution in the coming years.

Who are we and what is the vision?

By decentralizing project ownership, Governor Decentralized Autonomous Organization (GDAO) allows founders and core team members to hold fewer legal liabilities and offer more open-based “Sandbox-like'' services in DeFi. Driven by its biometrically verified Proof-of-Existence token, GDAO aims to be a role model for other DAOs by offering its end-users the utmost security and anonymity in a true, decentralized governance community.<br>

**Governance-as-a-Service (GaaS)**<br>

Just like the legendary Rising Phoenix, GDAO rose from the ashes of a major public exit scam[ \[Link\]](https://dunk.medium.com/cbdao-exitscammed-moving-forward-as-a-community-9767bc4a8037). At this time, the Ownership-as-a-Service protocol was created and GDAO offers this same framework to communities who have been disadvantaged by greedy developers or exploits that have left the token with a less-than-optimal existence. These communities can leverage GDAO’s technology to create their own Phoenix from the ashes.<br>

The steady and involved Governor community is encouraged to freely contribute as active voters on third-party projects via a Voting Bootstrap which ensures that voting quorums are met and long-term interests are being upheld from start to end. New projects, struggling projects, and large projects alike can benefit from the input of GDAO and the community, creating an environment where feedback and sane voting strategies come directly from those who hold the GDAO token.<br>

By leveraging xGDAO and Governance Vault technology, GDAO will fully transition into a comprehensive decentralized community. PoE Governors will be able to stake GDAO as xGDAO and gain access to network revenue earnings, verified voting processes, as well as launchpads, and other DAO services. This is in addition to the PoE VIP whitelist to which ALL PoE holders are automatically added.<br>

**Why do DAOs need GaaS?**

With the recent emergence of new genesis blockchain projects and DeFi DAOs ascending, it is being revealed that safe, secure, and trusted communities are going to be paramount for the foreseeable future of blockchain technologies. By offering Governance-as-a-Service (GaaS), GDAO anticipates offering proficient security through Proof-of-Existence (PoE) verification and admittance into communal governance discussions, advancements, integrations, and interests.<br>

GaaS intends to resolve these common glitches found in most startup DAOs:&#x20;

·      Insufficient pre-launch stipulations leading to failed governance

·      Uninterested token holders seeming indifferent to contributing to DAO actions

·      Poor governance framework failing to correspond with token circulation

·      Short-term opportunists, or “Whales”, generating early skewed staking positions

**Prove You Exist by claiming a Biometrically Authenticated Token**

The Proof-of-Existence (PoE) smart contract uses biometric verification as part of the process to mint a token specific to the GDAO end-user. Completing this process authenticates and verifies individuals (Governors) who wish to use GaaS and prove their existence on other integrated websites. The PoE model is Sybil resistant - meaning that only one wallet per person may be signed up - allowing for TRULY FAIR modeling.  PoE offers a decisive progression in building structural DAOs with integrity, and is available as a service to third parties who wish to secure their platform for a variety of reasons, or create a safer, more fair environment for their next NFT Mint or Token Airdrop. <br>

Beyond acting as a “Digital Identification Card” PoE also plays a crucial role in transitioning the DAO into a completely decentralized state. Functioning along a bonding curve, PoE is designed to act as a major benefactor of yield returns for GDAO investors. The Governance Vault earnings determine the future progress and success of GDAO and moreover, other DAOs looking to become legitimized blockchain businesses; generating revenue for the Governance Vault in this manner allows Governors to apply the voting power of truly decentralized governance. The bonding curve assures that subsequent PoE enrollments go UP in price over time, so as the viability increases; users pay more for a service that is truly unique and is a one-time enrollment fee - this also ensures as we grow out, more funding comes into the Vault via the Payment Splitter. <br>

**GDAO: The Role Model for other DAOs**

As with any effective business model, success starts with trustful leadership and positive community interactions. In an age when DeFi is becoming heavily used, the need for safe governance is imperative. By creating an ecosystem of verified Governors, GDAO is building a decentralized governance protocol with its community members at the forefront. Governance is intended to keep order and safety and Governor DAO is a first-of-its-kind technology leading by example. <br>


# Governance as a Service (GaaS)

Decentralization and DAO principles are very good when done right but incredibly hard to achieve. Failure can lead to disastrous consequences.

All the products and services below reflect Governor DAO’s toolkit to offer Governance-as-a-Service. GaaS refers to Governor’s ability to act as the “DAO of DAOs,” incubating and supercharging other projects of all spurts under our ever-growing Governor DAO umbrella.

GaaS is conceived with network effects in mind: Every time a new project enrolls in GaaS, Governor’s scope grows. Our ecosystem of friendlies increases and more individuals enter our project. The bigger the Governor DAO ecosystem is, the more powerful our offerings are. The more powerful our offerings, the more projects are interested in engaging with us. Ideally, it’s an irreversible flywheel that never stops once it kicks into gear.

### **Proof of Existence (PoE)**

Proof of Existence is Governor DAO’s best-in-class defense against Sybil attacks. Since the beginning of blockchain, the permissionless, anonymous nature of the space leads to mechanisms that are incredibly vulnerable to exploitation by users taking on numerous accounts/wallets/identities.

Sybil attacks require developers to build projects that are either KYC-only or designed on an unlimited weight basis (meaning the more $$ one has, the bigger influence they have). This leads to unfair or vulnerable mechanisms surrounding activities like:&#x20;

* Token Launches/NFT Mints&#x20;
* Governance Voting&#x20;
* Airdrops&#x20;
* Play-to-Earn&#x20;
* Yield Farming&#x20;
* And much more...&#x20;

Proof of Existence is a “human gate” that enables the above to take place within per-person limits designed by the project. NFT launches and token sales can limit the number of mints or the size of contributions per person. DAOs can practice democratic or logarithmically-weighted voting modules. Airdrops can be provably assigned equally to each person participating. Play-to-earn games can offer quests that are bot-proof on many accounts. Yield farms can introduce whale caps or taxes.&#x20;

PoE offers Sybil resistance in a way that is…&#x20;

* 100% Effective&#x20;
* 100% Anonymous&#x20;
* Universal (wherever EVM exists)&#x20;
* 30-second sign-up&#x20;
* One line of code integration&#x20;

### **NFT Launchpad**&#x20;

Proof of Existence is immediately applicable to improving the global standard for NFT minting. Our NFT Launchpad is an incubated, powered by PoE experience where clients can self-select the level of engagement/support from Governor DAO and execute a provably fair NFT mint.

NFT collections incubated through the Governor Launchpad award some percentage of initial sales to Governor DAO as well as some percentage of resales.&#x20;

### **Liquidity Generation Event**&#x20;

Governor DAO’s unique, fair launch as an unrug required immense creativity to operate in a way to maximize the confidence of participants as well as the value of their inputs. This culminated in the LGE model.

User contributions are leased, not exchanged, and paired with new tokens for liquidity. Over time, users can reclaim their initial contribution AND new token from the LP. Additional mechanics like decaying fees, reflections, and initial contribution taxes enable a better, working launch out-of-the-box for every participant.&#x20;

### **One Voice One Vote**&#x20;

Governance was never supposed to be whale-catered. One Voice One Vote reflects better token governance standards, unlocked by Proof-of-Existence. Those standards include:&#x20;

* Democratic (one vote per person)&#x20;
* Capped (weight-based voting with a minimum and maximum)&#x20;
* Logarithmic (Diminishing weight gains from additional token holdings)&#x20;
* Quadratic&#x20;

### **Custom Smart Contract Standards**&#x20;

Governor DAO’s unique launch required optimized mechanics for the project to succeed. We launched GDAO smarter, and we use those best practices for others to launch smarter, too. Projects can engage Governor DAO for assistance and deployment of token, NFT, sale, loyalty rewards, and vault contracts that are custom-built, battle-tested, and proven better than market alternatives.&#x20;

### **DAO Consulting**&#x20;

Governor’s team and community have undergone a unique trial-by-fire that uniquely positions the project as a whole as experts in working DAO governance. Engage the team and community to ensure your DAO works right - the first time around.&#x20;

### **Future Offerings**

#### &#x20;**PoE Passport**&#x20;

As more and more projects leverage Proof-of-Existence for their various web3 needs, a central hub of content and management will be necessary to ensure that existing users are always aware of new opportunities.

The PoE Passport will be a comprehensive dashboard where users can view token sales, NFT mints, giveaways, governance votes, and more by projects protecting their mechanisms with PoE. The dashboard intends to build out on-chain statistics and reputational scores based on ownership of a Proof of Existence token.&#x20;

#### **Token Factory**&#x20;

A Permissionless, rug-proof, no-code, templated token launch using our LGE model and better smart contract standards. Anyone can launch their own token in a 100% safe manner. Taxes from every token created and sold through the factory go back to Governor DAO.&#x20;

#### **Metagovernance**&#x20;

Governor DAO is situated as a collective of highly engaged Governors with ownership in numerous projects that leverage GDAO. Our holders vote on these other projects as well as others that contract us for the express purpose of bootstrapping their governance with a mature, engaged, seasoned community.


# Proof of Existence (PoE)

Summary of the Proof of Existence (PoE) Token and its utility.

### Introduction

{% embed url="<https://youtu.be/AWGEClWMCTY>" %}
Proof of Existence Overview
{% endembed %}

[Proof-of-Existence](https://onevoiceonevote.governordao.org) is a first-of-its-kind innovation in Sybil resistance, which addresses the decade-long dilemma of "how do I build decentralized systems designed for one account per user if I can't vet the accounts?"&#x20;

In other words, if you design your contract/emissions/token launch/consensus model around the notion that everyone gets one account, how do you stop people from using multiple accounts?

The original answer, pioneered by Bitcoin and Proof-of-Work, is to make weight-based systems: the more hashrate you provide, the more BTC you earn. This model is permissible in some instances (yet rarely optimal). Uncapped, performance-based POW has resulted in an increasingly energy inefficient, expensive consensus model.

In yield farms and governance voting, it means whales dominate the game and small accounts have virtually no say. In token sales and NFT mints, it means users are competing in gas wars against bots and multi-account participants.

The only widely used defense today against multi-account and bot abuse is KYC, which has a separate set of baggage. Proof-of-Existence is the first easy-to-integrate, non-intrusive, 100% effective, universal defense against Sybil attacks.

### How it Works

In partnership with leading biometrics firm Finnovant, Governor DAO has created a portal for biometric authentication of Ethereum wallets. Users enter the portal with a web3 connected wallet and input face + voice readings. Locally, the user device runs the input information through hundreds of algorithmic indicators to create an encrypted output hash representing the individual.

No two individuals produce the same output hash, and Governor DAO receives the hash that corresponds with the input address. If the hash is unique from all others in the system, the address is tokenized as "provably unique". A non-transferrable ERC20 "Proof of Existence" token is attached to the user wallet, which enables any smart contract to easily check for that verifiable uniqueness with just one additional line of code.

![](/files/-Mi7AMYmMWVAi1PWdFMc)

#### Security Notice: Governor DAO biometric signup is 100% anonymous and non-intrusive. Persons' biometric readings are hashed locally in the user device, and only the encrypted output is shared. No human ever sees face or voice readings.


# PoE Enrollment User Guide

Quick Start Guide

**Governor DAO Proof of Existence Portal**

**Quick Start Guide**

Version 1.2 Date: 05 April 2022

## This Guide will assist with:

1. Enrollment (PoE token assignment)
2. Claim your free NFT on Mainnet
3. Join our “Humans Only” Telegram Group on Mainnet

### PoE Portal URLs

1. **PoE Enrollment Portal on Mainnet** [**https://onlyoneme.governordao.org**](https://OnlyOneMe.governordao.org)
2. **Mint a PoE token on Mainnet** [**https://passport.governordao.org**](https://HumanChat.governordao.org)

### Governor DAO Contract Addresses

**Ethereum Mainnet**

* GDAO Token Contract: 0x515d7e9d75e2b76db60f8a051cd890eba23286bc
* PoE Token Contract: 0x5945bAF9272e0808165aDea61b932eC1604FB161

## Instructions to Enroll

The following guide details instructions on how to participate in the Governor DAO enrollment process hosted on the Ethereum '**Mainnet**' network via a PC or mobile.

**IMPORTANT NOTE:**

The enrollment works on both PC and Mobile but there are known issues with MetaMask Mobile detailed in the troubleshooting guide.

### Connect Wallet and Network

Connect ‘**Metamask**’ or ‘**WalletConnect**’

A warning will display if your wallet is connected to the wrong network.

* The 'Human Chat' Telegram chat has been migrated to Mainnet with a link appearing on the website once a PoE token has been minted on Mainnet

If this is your first time, the “***Status of VIP enrollment:***” will be ‘**Unenrolled**’ or ‘***Unknown***’ (if the wallet isn’t connected).

### Start Enrollment

Once you’ve successfully connected your wallet you can now start the Enrollment process.

If you want to make sure your camera is lined up with your face, click **“Start Preview.”** The red dot will flash and you can position yourself so that your face lines up within the oval.

**Important NOTE:**

* If you appear frozen, i.e. your camera is not tracking your movement, there could be an issue with your webcam. Also, a common issue when using mobile phones (see note at the beginning of the section).
* Check to ensure that lighting conditions are suitable. If there are shadows or the room has mixed light, the capture may fail.
* Check to ensure that the audio is clear.

Once you are ready, click ‘***Start Enrollment***’ to start the enrollment process.

***NOTE – you will need to say the following phrase a total of 3 times, stating the phrase once per instance – "The best things in life will always be free"***

Be sure to look at the camera and then you will have about 5 seconds to say the phrase each time.

After about 5 seconds the recording will stop and prompt you to ‘***continue enrollment***’ for a further 2 times.

While recording, a flashing red blinker will appear in the top right corner of the template.

!\[A picture containing text, electronics

Description automatically generated]\(/files/-Mi9No6Xz1\_wvH61HEub)

After the 3rd recording, a message will be displayed up to 60 seconds later with one of the two messages.

\-    ‘***Congratulations! You have successfully authenticated***’

\-    "***Unfortunately, your enrollment did not process completely.  Please try again:***"

On success, the following heading will be updated ‘**Status of VIP enrollment**: *Enrolled*’

## PoE Token Assignment

**NOTE: Once Say-Tec registration is complete, a PoE token can be minted from the following** [**page**](https://passport.governordao.org)**, which will cost a small gas fee to complete the transaction. An automated process runs every 4 hours which collects new enrolments and authorizes the new wallet to mint a PoE token.**

Once the PoE token has been minted, access to the 'Humans only' Telegram group can be accessed from a link that is displayed on detection of the PoE token on <https://OnlyOneMe.governordao.org>.

## Verifying Enrollment Later

Once your enrollment has been successful, you can return at any time to the PoE Enrollment Portal to verify that your enrollment is functioning.

When an enrolled user returns to the PoE Enrollment Portal, a green ‘***Start Validation***’ button will appear instead of an option to ‘***Start Enrollment.***’

To validate your registration only capture will be requested as well as video under the normal expected conditions.

* ‘***Start Validation***’ – States a wallet has been detected with biometrics registered.
* ‘***Start Enrollment***’ – States a wallet connected but no biometrics registered, pending an enrollment.

![](/files/-Mi9No6YeMoNizC7HxM_) ![](/files/-Mi9No6ZTSdzvenj8r6F)

## Claiming your Free NFT on Mainnet

Prerequisites to claim your free NFT:

* Successfully enroll and claim your PoE token
* Purchase or hold 50+ GDAO or xGDAO on Mainnet
* Claim your free NFT from the following website [URL](https://nft.governordao.org)

Confirm you’ve **successfully enrolled** and **a PoE token has been assigned** (completed the steps previously to enroll).<br>

<https://nft.governordao.org>

![](/files/uq98sn9EkE4xZ1cncYoQ) 50+ GDAO will be required to claim.

### **Join Human Telegram Group on Mainnet**

Once you have enrolled and minted your PoE token, you can join our GDAO “***Humans Only***” Telegram Group on Mainnet.

Note: You must use the link provided by the PoE Enrollment Portal webpage only! Other links will not work!

**The link to join the "Humans Only" Telegram group will only appear when you have received a PoE token. The link will appear at the bottom of the authentication** [<mark style="color:blue;">**page**</mark>](https://OnlyOneMe.governordao.org)**.**

Scroll down until you see the option “Join the PoE Telegram Group”

![](/files/-Mi9No6k29TNLSvod7mO)

&#x20;Click ‘***Join the PoE Telegram Group***’

&#x20;When pasting the link into a browser, check the option to open in Telegram.

![](/files/-Mi9No6l3dL2vEv9CxO1)

Interact with **Collab.Land** bot in Direct Message (for best results, use Telegram Desktop)

Click on ‘***Connect***’ and navigate to a browser that has Metamask unlocked and connected on Mainnet

![](/files/-Mi9No6m0zwGVDRvdJGX)![](/files/-Mi9No6nZRw0VPCRJUFn)

Follow the steps provided to link your Metamask wallet to **Collab.Land**

![](/files/-Mi9No6oqAVi3BN8p2JX)*Connect Metamask*

You **MUST** connect with the same wallet you supplied for enrollment. Confirm wallet and ‘***Connect***’ and ‘***Sign***’

![](/files/-Mi9No6pryCGniczmZof)![](/files/-Mi9No6qypnF0u4bT5MK)\
*Pop-up messages before being sent to telegram*

After connection, if the wallet holds a POE token, you will be invited to ‘Join Group’ after being presented with the following message

![](/files/-Mi9No6ruOzI9sqd83o3)

Click ‘***Join Group***’

If sign-up fails (wrong address, no POE ownership, etc.) then restart the process by clicking on the “***Connect***” command in the Bot messages. Further attempts to join the group (via the “**join group**” command) will auto-deny access.

![](/files/-Mi9No6sq4OSpYxFAdJS)

*Warning if no PoE token is detected*

Unless for reasons stated as follows, the user has lifetime access to the group. Revocation of the token or discretion of admins can result in removal of the user from the group.

## Troubleshooting Guide

The following issues may be encountered during PoE enrollment.

1\.   Ensure there is suitable lighting when recording.

2\.   Ensure the browser has audio and camera record permissions which will pop up when clicking the ‘***Start Enrollment***’ button.

3\.   Successful recording will need to be a combination of both voice and video recording

4\.   Only one ‘***VIP***’ enrollment and one wallet can be registered, if a person attempts to register a 2nd wallet, they will experience an enrollment failure. The Say-Tec technology will detect that person's previous enrollment.

5\.   If any of the 3 recordings required to complete the enrollment differ too much (for example, poor audio quality on one of the recordings), the enrollment will fail. The aim is to record 3 recordings staring into the camera and recording the same catchphrase consistently.

6\.   If you experience issues while following the above conditions during enrollment, we recommend reaching out to an admin or GDAO Ambassador. As Governor DAO is a consumer of the ‘Say-Tec’ technology, the team can assist with confirming the details have been followed above, but outside that, the Finnovant support team will need to be engaged. In this case, the following information is required:

\-    ETH wallet address used during registration

\-    Which browser and version you are using

\-     What wallet you are using. e.g. Metamask / WalletConnect

\-    Date / Time of enrollment attempt including time zone

### Requesting support

If any issues are experienced with enrollment or website issues, there are several options to source assistance

* **Telegram Community Chat:** request an admin in the following GovernorDao Chat <https://t.me/GovernorProject>
* **Governor DAO Discord:** <https://discord.gg/MVh5NkN7gt>
* **Log a support request through the** [**WordPress form**](https://blog.governordao.org/help-desk-form/)
* **Governor DAO Blog WordPress Live Chat:** <https://blog.governordao.org/>
  * Click on the message bubble at the bottom right corner of the screen
  * When the green icon is lit a live agent is available, a grey icon means the agent is offline
  * If the chat is offline, enter your name and email address and a description of the issue experienced and one of the team will contact you

![](/files/-Mi9No6thG9o1zF1qtek) *Live chat available* ![](/files/-Mi9No6uOA4oKPB7xDPr) *Chat offline*

### Known Issues

#### Issue 1: Nested Camera disabled In MetaMask Mobile

Reported issue with MetaMask mobile due to issues on nested camera access at the OS level Say-Tec software can’t be used in combination with the Governor DAO PoE enrollment process.

#### Issue 2: NFT can’t be claimed on MetaMask Mobile

Once enrolled, the Say-Tec enrollment can be accessed via Metamask Mobile, but there is an issue with the ‘claim NFT’ button. Please use the same device to claim the NFT that you used to enroll.

#### **Issue 3: Registering on Android with MetaMask via ‘WalletConnect’ integration**

As the website has ‘Walletonnect’ integration using browsers like Brave and MetaMask is workable and supported.

* First, open MetaMask and connect to ‘Mainnet’ network before opening the browser.
* Open Brave and navigate to the URL, connect wallet and click on **‘start enrollment’**
* A pop-up will appear to approve the use of your camera and mic
* A silhouette will appear with a red flashing blinker, then the camera will become active, if the camera doesn’t activate Metamask may not be open.

**Issue 4: Unable to join Telegram ‘Human Chat’**

If the following message is displayed return to the [PoE Enrollment Portal](https://onlyoneme.governordao.org/) to ensure successful enrollment and the [Passport Portal](https://passport.governordao.org/) to mint your PoE token.

![](/files/-Mi9No6vb7aN1hrR7S5t)

## Screenshots **D**etailing Different States of Registration.

The following details the variations in connectivity and displays

### State 1: Wallet Not Connected,

\-    GDAO balance: null

\-    VIP enrollment: Unknown

\-    No PoE token detected

![](/files/-Mi9No6wI2gPy6vBoeNA)

### State 2: Wallet Connected

\-    GDAO Balance displayed

\-    Say-Tec Status: Enrolled

\-    No PoE token detected

![](/files/-Mi9No6xN8gOvNrXrq70)

### State 3: Say-Tec Enrolled / PoE token

\-    GDAO Balance displayed

\-    VIP Status: Enrolled

\-    PoE token detected

\-    Authorized for PoE Telegram Group

\-    NFT Claim available

![](/files/-Mi9No6yv-WJUaJWEsgi)

### State 4: Say-Tec Enrolled / PoE token / No GDAO

\-    GDAO Balance displayed as: 0

\-    VIP Status: Enrolled

\-    PoE token detected

\-    Authorized for PoE Telegram Group

\-    NFT Claim available (Not displayed unless 50 + GDAO)

![](/files/-Mi9No6zCrCSMzrz9aFi)


# Passport Portal / PoE Dispenser

A summary detailing the functionality of the Passport Dashboard and self serve PoE dispenser.

Passport Portal & PoE dispenser

[Passport Portal - Governor DAO](https://passport.governordao.org/)

The passport page is the latest deployment from GDAO which provides real time statistics and information to the community.

The page is sectioned into several panels which provide different offerings.

Simple summary of the following

**Your PoE VIP Status**

* Status of connected wallet: ‘Connected: wallet address’
* Chain the wallet is connected to: Ethereum Mainnet
* Your biometric wallet status: unenrolled/enrolled
* Status of your PoE token.

![VIP Status
Description automatically generated](/files/j0NhVUPylDFC4PH3s2Gm)

**PoE Holder Only Section**

The section is expanded on detection of a PoE token. The section is currently showing a users GDAO/xGDAO holdings with a plan to build out additional on-chain statistics for PoE enrolled users in the future.

**Proof of Existence Statistics**

Details statistics on biometric VIP enrolments & PoE mints historically. In the future further on-chain statistics will be reported.

**Proof of Existence Verifier**

Any on-chain wallet can be verified by entering a wallet address which will report on the status of that wallet holding a PoE token. The following information will be presented.

* Status if wallet has a PoE Token
* If the wallet has enrolled as a VIP through the biometric authentication portal
* Holds GDAO or xGDAO

![Proof of Existence Verifier](/files/kGCSwOUKtCgS0lhKuiEx)

**Proof of Existence Token Claim Portal**

Once enrolled through the VIP portal a PoE token can be minted here. Every 4 hours a batch process runs which collects new VIP enrollments and updates the smart contract on-chain which will authorize any new enrollments to mint a PoE token. The interval of the batch job can be changed at any time with 4 hours being practical currently.

When authorized to mint a PoE token a button will appear which will allow a PoE token to be minted with a gas fee to complete the transaction. GDAO has no control over the price of gas therefore we recommend checking before minting to minimize purchasing when gas is high. Gas can be checked here <https://ethgasstation.info/>

Currently GDAO is not charging for the PoE token, the only cost is the gas to mint. In the future there are plans to charge for the PoE token with a percentage sent to the vault. The price of the PoE token will be decided by the community who will vote on an agreed sustainable fee.

!\[Proof of Existence Token Claim Portal

Description automatically generated]\(/files/429b0zdAZTKR6Cw1DAhF)

The following mint button will appear when your wallet is authorized to mint a PoE Token

!\[Graphical user interface, text, application

Description automatically generated]\(/files/Iy1e01jYuutfECFTI3UT)

Enroll at the following page and join the fight for sybil resistance

[https://OnlyOneMe.govenordao.org](https://onlyoneme.govenordao.org/)

![](/files/M6sNfTYhuoRTFkFeZdct)


# PoE Integration Overview

The universal Proof-of-Existence whitelist can be integrated permissionlessly into any smart contract.

Developers can "authenticate" contract calls by requiring the addresses executing those calls to hold the ERC20 POE token.

The base integration of "only authenticated users can call this function" can be achieved by pasting the following requirement statement into the desired write function:

```
require(IERC20(0x5945bAF9272e0808165aDea61b932eC1604FB161).balanceOf(msg.sender) == 1, "Need to authenticate first!");
```

The 'require' syntax asserts that a logic statement resolves true in order for a contract call to execute. This line requires that the address calling the contract \<msg.sender> holds exactly 1 POE.

POE balance of an address is binary, they can only ever be 1 (authenticated) or 0 (non-authenticated).

#### NOTE: For cleaner code, initialize the POE token address as a global variable and reference that variable in the 'require' statement in place of the address itself.

### Building Authenticated Logic

With a POE balance requirement in place, developers can easily add gamification to their contracts and platform mechanics.&#x20;

Some of the (otherwise not possible) gamification/logic improvements could include...

#### Token Sale/NFT Mint

* Individual "cap" on mints or size of purchase
* Anti-Whale price curve: each additional purchase is more expensive than the last
* One-claim-per-person with a free or fixed rate
* Pre-sale phase where authenticated users get a grace period to interact without competing for gas

#### Token Contracts

* Max/Minimum allowed balance per user (ie: NFT that is limited to one-per-person)
* "Bot-Free" Trading

#### DeFi Games

* Capped or anti-whale yield farming/liquidity providing
* Modified weight-based pools (minimum and maximum weight)

#### Governance

* Democratic voting (one-vote-per-person)
* Logarithmic voting (unlike quadratic, token-based weight is not linear. Min/max voting weights based on token ownership + POE)

### Contract List

| Network       | Proof-of-Existence Token Contract                                                                                                                  |
| ------------- | -------------------------------------------------------------------------------------------------------------------------------------------------- |
| Kava          | [0x968354437FDBc3E5b209e363988715c36E5fF10E](https://explorer.evm-alpha.kava.io/address/0x968354437FDBc3E5b209e363988715c36E5fF10E/write-contract) |
| Mainnet       | [0x5945bAF9272e0808165aDea61b932eC1604FB161](https://etherscan.io/token/0x5945baf9272e0808165adea61b932ec1604fb161)                                |
| Polygon (new) | [0x523b6CD6191C45B0134B175fD36b82586EaeC41D](https://polygonscan.com/token/0x523b6cd6191c45b0134b175fd36b82586eaec41d)                             |
| Polygon (old) | [0x15a84e83e039a63a230ba786231dfb99544f7acb](https://polygonscan.com/token/0x15a84e83e039a63a230ba786231dfb99544f7acb)                             |
| Rinkeby       | [0x36c81cef9d311dcf46391e9cf8a776e9991946a3](https://rinkeby.etherscan.io/token/0x36c81cef9d311dcf46391e9cf8a776e9991946a3)                        |

| Network | Merkle Minter                                                                                                                       |
| ------- | ----------------------------------------------------------------------------------------------------------------------------------- |
| Kava    | [0x4784855c2802132d1dc3212111Ae70613CA7A1D0](https://explorer.evm-alpha.kava.io/address/0x4784855c2802132d1dc3212111Ae70613CA7A1D0) |
| Mainnet | [0xc4f97fcf045c0bfb9faa19515446eb0c7ffde8bf](https://etherscan.io/address/0xc4f97fcf045c0bfb9faa19515446eb0c7ffde8bf)               |
| Polygon | [0xb17e1062F89Dff41197F1f6d82De4Bff2d0db29D](https://polygonscan.com/address/0xb17e1062f89dff41197f1f6d82de4bff2d0db29d)            |


# How to Integrate PoE to Snapshot

A brief how-to on integrating global PoE (Proof of Existence) token into your project's snapshot or scattershot voting portal.

{% embed url="<https://youtu.be/oa6WCvnWLBc>" %}
Snapshot Setup Official Video
{% endembed %}

### 1. Get an ENS Domain for Your Space

If you haven't already, follow this guide - <https://docs.snapshot.org/spaces/before-creating-your-space> to get your ENS domain.&#x20;

### 2. Link Your ENS Domain to Snapshot

Once you have created your ENS domain, Go to this URL and modify the tag with your ENS domain. `https://snapshot.org/#/`**`<ENS DOMAIN>`**`/settings` and login with the wallet that owns the ENS domain.

![](/files/DHSyA449GauuNapJvQ9K)

Once connected, the **\<your-address>** tag will be replaced with your wallet address.

{% hint style="info" %}
You will need a wallet that can sign messages like MetaMask, Fortmatic, Portis, Argent. Don't use a Gnosis Safe as they are currently not supported.
{% endhint %}

![](/files/I2osDBuUd8wxAhaDVeLJ)

If you are on your domain space and connected with your wallet you will see the correct **IPNS link** in the **ENS field**. Click on the button **Set record on ENS**, and you will get redirected to ENS page.

* On the ENS page, click on **ADD/EDIT RECORD**.
* Select **TEXT** and type the key **"snapshot"** in lowercase.
* Paste the **IPNS link** in the field.
* Click **Save**.
* Scroll down and click **Confirm**.
* Sign the transaction with your wallet.

![](/files/IwAEZquXUIXmjk15zipb)

### **3. Setup Your Space Settings**

Refresh the Snapshot settings page `https://snapshot.org/#/`**`<ENS DOMAIN>`**`/settings` to see the space setting.

#### Profile

![](/files/86gatbgvlRVAP6O3gW96)

* **Name** is the name that will be displayed in your space.
* **About** is the description of your governance purposes.
* **Avatar** is your project logo.
* **Network** must be the network relative to your token. (PoE is currently available on ETH Mainnet, Rinkeby, Polygon (MATIC), and Polygon Mumbai Testnet.)

![](/files/cUxfRfi51aAMvCSIHXw3)

* **Symbol** is the main token symbol that will be displayed in your space.
* **Skin** can be left as a default, used as an existing one or you can [create your own skin](broken://pages/-MQ5mnrVChkYzUxRK3Cl).

![](/files/uDkGfTAExkoMqVMAVRmJ)

* **Twitter** and **Github** just add a username to link to your different accounts.
* **Domain Name** is optional but you can [add a custom domain](broken://pages/-MQ5nNuym_sD5cSMnK_G).
* **Terms** links to your website's terms and conditions.
* **Hide Space from the Home Page** if you want to keep your space "private".

#### **Strategies**

A strategy is a JavaScript function that defines how the voting power is calculated. You need to add a voting strategy for your proposals. erc20-balance-of is the strategy we will be using for PoE "One Voice, One Vote" integration.  You can have multiple strategies and can have your custom strategies as well, including a hybrid strategy of PoE + Token Balance/x to incorporate both holdings and individuality.&#x20;

You need to add a voting strategy for your proposals. `erc20-balance-of` is the strategy of choice for PoE.&#x20;

![](/files/k8efJUJoHoPUsV4hEEkG)

{% hint style="info" %}
You can add up to 5 strategies in your space.
{% endhint %}

Once selected, you can edit the strategy by clicking on it and adding the following information:

1. Symbol: PoE
2. Address: \
   For ETH Mainnet the PoE Address is - 0x5945bAF9272e0808165aDea61b932eC1604FB161 \
   For Polygon the PoE Address is - 0x15A84E83e039a63a230ba786231dfB99544f7acB
3. Decimals: 1 - Since the token is not fractionalized the decimal point is not needed - default to 1.&#x20;

![](/files/8utd73qmZ1anDhXTauHd)

To learn more about different strategies for use: <https://docs.snapshot.org/strategies>

#### Admins

The admins will be able to edit the space settings and moderate proposals. You must add one address per line.

![](/files/4JFT6mE7i031kCIJBU3e)

#### Members

Members will be able to create proposals without being constrained by filters. You must add one address per line. Generally keeping this blank is recommended so that logic is not confusing for users. If you want proposals to be generated by team members only be sure to demarcate those addresses here.

![](/files/schjp2jdorbKVBfQY2DI)

#### Filters

* **Proposal Threshold** is the minimum number of tokens required to create a proposal, since we are working with a single token this should be set to 1.
* **Proposal Validation** is a custom function to validate if someone can post a proposal or not. You can use the basic validation by default which takes your voting power with space strategies and checks if you pass a defined threshold. Others are available but the default is recommended.
* **Allow Only Members to Submit a Proposal** makes sure that only members specified in members field are allowed to submit a proposal.&#x20;

![](/files/eW4QPX7qziieAYg9LdAO)

#### Plugins

Plugins give extra features for your space. Explore plugins as needed, be sure to thoroughly understand what plugins DO before adding them and possibly breaking voting logic.&#x20;

### 4. Save Your Settings

Click "**Save**" then confirm the action in your wallet.

You are all set! You can go on `https://snapshot.org/#/<ENS_DOMAIN>` to see your space.


# Governor DAO Proof of Existence Use Cases

Governor DAO Proof of Existence Use Cases

GDAO's Proof of Existence solution adresses key issues for fighting against Sybil attacks. Common use cases include:

**Use Case 1: Non Verified Wallet Whitelist** :robot:

**Problem Explanation / Challenge**

When projects or artists plan a presale for either a token or NFT launch there may be an offer of a whitelist. The whitelist wallet discovery would typically be in the format of a Google form which would potentially gather information including Telegram, Discord and an email address, all attributes which are not verified. Due to the anonymous unverified nature of the data the confidence of a fair launch is lost. A ‘fair launch’ would be flattening the landscape to ensure each person has the same opportunity as the next to acquire the token or asset through the sales platform. Traditionally a person connects their wallet to the dApp and executes a purchase without using a bot, script, or any other method to frontrun a launch. The other key element also is confidence only one wallet per person can be verified to fight for sybil resistance. One of the biggest challenges in blockchain is the misuse of multiple wallets per person to gain an unfair advantage over the volume of assets which may be available in a launch. A person owning 10-20 wallets which could be used to participate in a whitelist sale to acquire a larger stake in the circulating supply wouldn’t be uncommon. If an NFT sale reserved 500 NFT’s for presale at a discount price, one person could consume the majority through a bot or script which would leave very few for genuine whitelisters who were looking to purchase one or two.

**Mitigation Strategy**

Enroll on the [Proof of Existence Portal](https://onlyoneme.governordao.org) to gain a PoE token. Developers can add a check into their dApp to check for the ERC-20 PoE token for any whitelisting.

**Use Case 2: Effective Anon Ban System** :robot:

**Problem Explanation / Challenge**

As with any whitelist strategy, the flip side is the introduction of a blacklist strategy. Bad actors across blockchain are out of control and constantly on the increase contributing to a number of negative experiences. Defending against these attacks is a challenge but blacklisting a known bad actor's wallet is made simple with PoE tech.

**Mitigation Strategy**

Blacklisted wallet addresses can be added to the PoE Contract. Developers and projects can configure their dApp to check for PoE ERC-20 token and blacklisted wallets from the same PoE Contract.

**Use Case 3: Provably Fair Token Launches/NFT Mints** :art:

**Problem Explanation / Challenge**

A ‘Provably fair launch’ would be flattening the landscape to ensure each person has the same opportunity as the next to acquire the token or asset through the sales platform. Traditionally a person connects their wallet to the dApp in preparation for an upcoming launch and executes a purchase without using a bot, script, or any other method to frontrun a launch. One of the biggest challenges in blockchain is the misuse of multiple wallets per person & bots to gain an unfair advantage over the volume of assets which may be available in an NFT or token launch. If an NFT sale reserved 500 NFT’s for presale at a discount price, one person could consume the majority through a bot or script which would leave very few for participants who were looking to purchase a small number of tokens or a couple of NFT’s. These sybil attacks result in a very high negative user experience with confidence tainted with the project due to the misadventure.

**Mitigation Strategy**

GDAO can provide Governance as a Service (GaaS) to launch an upcoming NFT or Token launch. The Proof of Existence Launch Pad is operational and has a number of customizable paramters based on the needs of the NFT artist, including integration of the PoE whitelist. A liquidity generation event (LGE) can also be hosted by GDAO to provide an array of launch options based on ownership of a PoE token for pre-sales and public sales.

**Use Case 4: Airdrops** :parachute:

**Problem Explanation / Challenge**

When a project coordinates an airdrop, the aim would be a fair distribution of tokens to one wallet per person. Unfortunately airdrops typically result in tokens being sent to or claimed by multiple wallets per user. A user claiming across multiple wallets creates an unfair distribution, diluting unique participants' allocations and sometimes excluding them from participating at all. For instance, there may be an airdrop of 100,000 - 1,000 per wallet with one person owning 20 wallets and consuming 20% of the total airdrop.\
An additional challenge would be calculating a practical sized airdrop based on enrolled wallets. In order to have a level of confidence that all participants received a fair distribution the calculation would typically be based on the number of wallets. Obviously, this method would not provide a confident distribution per person without a large percentage being sent to multiple wallets owned by one person.

**Mitigation Strategy**

Allocating airdrops only to wallets holding a Proof of Existence (PoE) ERC-20 token will provide a provably fair allocation of airdropped tokens to one wallet per person.

**Use Case 5: Democratic Voting, Rep-based, Capped-per-person** :ballot\_box:

**Problem Explanation / Challenge**

Traditional project governance is carried out via a weighted voting strategy therefore, any large token holders with one or more wallets would dominate the majority of votes they choose to take part in. This type of dominance results in whales and holders of multiple wallets directing the project in their biased direction based on their weighted token holdings. For example, this could lead to outside influences buying a large amount of token supply to push nefarious proposals in their favor. Small token holders would have very little impact on any project direction based on a voting system of this nature, which can decentivize those holders from participating in governance completely.

**Mitigation Strategy**

Incorporating the PoE ERC-20 token into [snapshot.org](http://snapshot.org/) enables a unique “One Voice, One Vote” governance strategy. This strategy can also be leveraged with additional criteria such as, having x amount of the project token as well as a PoE token.&#x20;

**Use Case 6: Bots** :robot:

**Problem Explanation / Challenge**

In a high percentage of NFT & token sales bots secure the majority within a few minutes of the launch. When bots attempt to interfere with a launch, it not only pushes up gas fees but leaves genuine buyers with a limited supply and the risk of being frontrun.

**Mitigation Strategy**

Utilizing the Proof of Existence solution by allowing only PoE holders to participate in a launch or sale will tackle any unwanted bots from attempting to purchase any of the assets

**Use Case 7: Human Only Communications/Social Media** :person\_in\_tuxedo: :ballot\_box\_with\_check:

**Problem Explanation / Challenge**

As the defi space builds out, social media has become an area in need of decentralized integrations. Social media dApps like ‘[Blockscan](https://chat.blockscan.com/start)’ and '[ETHmail](https://ethmail.cc/)' are both functional social media tools that can be used in combination with your wallet to send emails on-chain. Anyone can spin up multiple email addresses off-chain without any KYC verification, meaning there is little trust in who the actual author is and wether or not they are a bot or a human. As these social media integrations build out, there will be a bigger demand to verify who is associated with each wallet and its social media activity.&#x20;

**Mitigation Strategy**

This can be solved by integrating PoE token verification into social media platforms. Additionally, as web3 and decentralized platforms are built out, GDAO’s Passport Portal can be used to verify a wallet’s connected social media profiles. These options provide platforms with the tools needed to mitigate bot activity and scams, ensuring a safer environment for their community.

**Use Case 8: Anon/On-Chain Identity/Reputation** :adult::ballot\_box\_with\_check:

**Problem Explanation / Challenge**

As blockchain integrations build out so does its reach and scale across platforms. Over time building up an on-chain reputation will play a key part in a user's profile across the blockchain. For instance, a user can build up a financial defi score based on thier financial decision, loans, debt etc. including building financial defi scoring based on financial decisions and loans etc. Without verification of one user to one wallet, there is no way to assure the integrity of a users reputation or legitimacy of their defi score.&#x20;

**Mitigation Strategy**

GDAO’s Proof of Existence (PoE) token allows for verification of one user to one wallet. This ensures that on-chain reputation systems are accurately maintained and unable to be gamed. For example, a user owning a Proof of Existence (PoE) token builds out their on-chain reputation within the growing GDAO ecosystem.

**Use Case 9: Gas wars** :fuelpump:

**Problem Explanation / Challenge**

Gas wars are typically the outcome of a mass flood of front-running bots attempting to take the lead on purchasing NFTs or tokens by elevating the gas price higher than practical for most people taking part in the sale. The high gas configuration, combined with the many bots pushing the gas demands up, results in innocent participants paying excessive gas for a low-cost NFT mint or a small token sale allocation.

**Mitigation Strategy**

Gas wars minimized by utilizing the PoE integrations into planned launches or sales.

Sign up today for a PoE token to fight for Sybil Resistance <https://onlyoneme.governordao.org/>


# PoE VIP Process - 4 Stages

One pager on the high-level steps to enroll on the VIP Portal to gain a PoE token

### VIP Portal Website URL's

If the goal is to simply enroll to gain a PoE token follow link 1, if you are interested in joining the Human Telegram chat one can enroll on either but will need to navigate to website 2 to join the Telegram Group. Full guide can be found [here ](https://docs.governordao.org/proof-of-existence-documentation/poe-portal-user-guide)

1. Core VIP Portal on Mainnet <https://OnlyOneMe.governordao.org>

&#x20; 2\. Enroll in Human Chat as a VIP Portal on Mainnet on link above once a PoE Token has been minted. Telegram link for Human Chat will appear once a PoE token has been minted.

![](/files/w8sPWUOkLss2eW0KBEoC)


# NFT Launchpad - Provably Fair Mints with PoE

Our NFT Launchpad is an incubated, powered by PoE experience where clients can self-select the level of engagement/support from Governor DAO and execute a provably fair NFT mint.

Proof of Existence is immediately applicable to improving the global standard for NFT minting.&#x20;

NFT collections incubated through the Governor Launchpad award some percentage of initial sales to Governor DAO as well as some percentage of resales.&#x20;

**The Problem with the Status Quo**

Gas wars, front-running bots, whales, and corrupt NFT drops have been jeopardizing fair NFT launches.&#x20;

Genuine buyers are being priced out and dominated by large whales who end up taking a majority of an artist's mints, preventing high percentages of unique buyers from participating, and forcing the outcome of NFT launches to be predictable with less value than a centralized off-chain offering. The pattern doesn’t need to continue.&#x20;

**The Solution - Proof of Existence**

Governor DAO has the tech to change the landscape to provide fair NFT launches while maintaining a decentralized process and, more importantly, supporting [Sybil resistance](https://youtu.be/_VolZn0y-FM).

The answer is Governor DAO’s Proof of Existence (PoE) Token. This technology enables the authentication and verification of one wallet per individual without compromising that individual’s anonymity. In other words, it’s KYC-Free.&#x20;

**The Say-Tec Tech**

Finnovant's revolutionary Say-Tec technology ensures that users enjoy a 100% anonymous and non-intrusive biometrics signup process to authenticate their one wallet.&#x20;

When a user [enrolls their biometrics](https://onlyoneme.governordao.org/), a mechanism encrypts the captured video into a verifiable string of characters resulting in a hash. This hash cannot be converted back to video data. It is a one-way conversion, ensuring your biometric data is safe. No human ever sees face or voice readings.&#x20;

Say-Tec authentication provides the highest security levels, utilizing technology that cannot be predicted, replicated, reused, or replayed. [Finnovant & Say-Tec FAQs](https://finnovant.com/frequently-asked-questions/)

Upon authentication, the user’s wallet is whitelisted using an ERC-20 PoE token, granting an exclusive VIP experience full of future opportunities, rewards, and privileges. Projects can then leverage this whitelist on-chain for a wide variety of use cases, including promoting their products and services.&#x20;

**Innovation Unleashed**

Governor DAO’s NFT LaunchPad is one of the best examples showcasing the power and versatility of PoE. It operates on the Ethereum and Polygon networks and is fully compatible with integrations on EVM chains.

Benefits and examples of unique offerings for using GDAOs PoE NFT Launch: [NFT Artist Onramp Info](https://docs.governordao.org/nft-artist-onramp-info/permissioned-nft-sale-scope)

1. **Non-competitive pre-minting:** Authenticated individuals have \<period of time> or presale to mint before the public sale/launch
2. **Anti-Whale price curve:** Each additional mint is more expensive than the previous (perhaps with a free first mint to all authenticated users)
3. Baked-in limitations in the NFT itself that assert users can only hold up to \<number> of NFTs
4. Tiered launches can apply various conditions to a pre/post-sale based on PoE/Non-PoE. For example:

* Pre-sale PoE holders can mint one NFT free and purchase additional NFTs for a PoE fixed price that could follow through to the public sale
* PoE holders could receive a free NFT presale, then discount NFTs in the public sale
* Reservation of free NFTs for PoE holders that, when 100% are claimed, triggers a public sale, or public sale could be for a fixed duration following, i.e., 48 hours.
* PoE holders get a discount.

1. Artists can tailor the style of mint for PoE whitelist holders to fit their community, e.g., pre-sale, dutch auction, freebie, cliff pricing, English auction, etc.
2. 100 Percent Unique address holders verified through biometrics to secure one mint per user \[or more] defined by the artist

The possibilities are limitless. Visit the NFT LaunchPad to view past mints at [https://nft.governordao.org](https://nft.governordao.org/) and contact us with questions and opportunities to utilize this exclusive, groundbreaking technology for your next drop! <https://blog.governordao.org/poe-nft-dispenser-artist-sign-up/>


# PoE for NFT Artists

Our NFT Launchpad is an incubated, powered by PoE experience where clients can self-select the level of engagement/support from Governor DAO and execute a provably fair NFT mint.

NFT Minting SUCKS! Bots and whales have completely ruined the experience, pricing out most individuals from most mints and sucking huge value away from insane gas spikes. Often users will pay hundreds - even thousands - of dollars in extra gas to secure an NFT mint. None of that goes to the artist!

With Proof-of-Existence, artists can authenticate their mints and NFTs to initiate more intuitive drops. This could include:

* Non-competitive pre-minting, where authenticated individuals have \<period of time> to mint before the live launch
* Anti-Whale price curve, where each additional mint is more expensive than the previous (perhaps with a free first mint to all authenticated users)
* Baked-in limitations in the NFT itself that assert users can only hold up to \<number> of NFTs

Additionally, NFT artists leveraging Proof-of-Existence can bootstrap their engagement/community by leveraging the existing, growing VIP group of authenticated users that are signed up for the very reason of learning about these types of opportunities.

Artists are highly encouraged to walk through the technology for themselves. [Authenticate](https://onevoiceonevote.governordao.org) through the portal, and once confirmed, head back to that domain to access the "Humans Only" VIP chat room.

See the [Developers section](https://docs.governordao.org/governordao-developers/untitled) on how to integrate POE into your own contracts. If you're not comfortable with Solidity or looking to build out a more comprehensive relationship, reach out to the Governor DAO community for additional support. The Humans Only VIP chat referenced above is the best way to get in front of GDAO holders and the developer team.

### Proof-of-Existence Best Practices

The tech itself is permissionless, but for best results, follow these tips to get the maximum engagement on your authenticated NFT mint:

* Reach out to the Governor DAO community! Authenticate, join the VIP chat, and introduce yourself. This is your direct access to a large, growing group of crypto-savvy individuals eager to learn about opportunities like your NFT mint.
* Prepare time for new POE signups. The POE enrollment process can take up to 24 hours for confirmation after enrollment. If you plan to create a time-sensitive privilege for authenticated wallets, make sure to point your own supporters/community to the [authentication page](https://onevoiceonevote.governordao.org) and instruct them to authenticate well in advance of the mint.
* Think through the best way to "privilege" authenticated users. There is a ton of flexibility in best situating your mint. POE holders can have early access, different mint prices, and more. Your mint can be locked to only POE holders or a mix of both. Plan accordingly!


# Permissioned NFT Sale Scope

Summary of NFT sale options and considerations when planning sale

**PoE Permissioned NFT Sale Scope**<br>

**Summary**

Proof-of-Existence \[PoE] enables NFT sales to leverage the notion that users are only interacting with one account \[wallet]. This allows a more nuanced, advanced gamified approach to NFT sales that is not otherwise possible (most “games” reflect additional restrictions that can be bypassed when using multiple wallets).<br>

**There are two different avenues for approaching PoE integration:**<br>

**1] Tiered sales**

Tiered sales work on the assumption that both PoE and non-PoE users can participate, and emphasizes different sets of privileges for PoE holders only<br>

**2] Permissioned sales.**&#x20;

Permissioned sales are for PoE users ONLY who are verified as unique through biometrics, which are tailored to apply additional restrictions for fairer and more exciting NFT launches.<br>

The following will outline two different mechanisms for specifying sales. The first section is different ways to tier the sales. The second is how to gamify for the permissioned tier. Gamification elements can be applied to the PoE tier ONLY. You can gamify PoE and restrict non-POE. You cannot gamify non-PoE (as folks will just bypass the gamification you put into place).

### **PoE vs Non-PoE Tiering**

There are two main ways to make a distinction between PoE and non-PoE holders. <br>

**1] Pre Launch mint window**

POE holders can have a start time before non-POE holders, perhaps 24 hours before non-POE holders. Also can be seen as a presale. POE holders have the opportunity to mint at their leisure prior to a public release \[Non-PoE] when the masses would potentially challenge the network hence engaging in a ‘gas war’ resulting in potentially large out-of-pocket gas fees.<br>

**2] Incentivisation conditions for PoE holders**

The second way to do it is to provide a different set of minting terms. POE holders can have a cheaper rate to mint (for any amount of mints). They can have a decaying discount that ultimately normalizes with the non-PoE sale price. A consideration would be a free first mint.

### **PoE Sale Gamification**

Because we can limit PoE holders to participation on just one account, we can put various restrictions on the sale to level the playing field.<br>

The most obvious example demonstrated with the inaugural [YCSM](https://opensea.io/collection/ycsm-1) mint, is a straight one-mint-per-person limitation. You can ensure that no individual mints more than one of an NFT.<br>

You can also make a ramp-up cost, where each additional NFT mint is more expensive than the last. For example, the first mint is free, and each additional mint is +0.01 ETH.\
\
You can have a minting cooldown, where users can mint one NFT every hour until all are sold.<br>

You can do a dutch auction, where the price decreases over time until all are sold.<br>

You could do a cliff, where the first n mints are x price and additional mints are 10x price.<br>

### **Modifiers Table**

| **Sale type**        | **Description of conditions**                                                            |
| -------------------- | ---------------------------------------------------------------------------------------- |
| **Pre-Sale**         | **POE holders get \<time> to mint before global sale starts**                            |
| **Pricing Tiers**    | **POE holders get to acquire \<amount> of NFTs at a cheaper price than non-POE holders** |
| **Freebie**          | **POE holders get one free NFT mint each**                                               |
| **Limit per-person** | **POE holders can claim up-to \<max> NFTs in a mint**                                    |
| **Ramp Up Sale**     | **Each additional mint per person is more expensive than the last**                      |
| **Cooldown**         | **One mint at-a-time with a timelock between additional mints**                          |
| **Dutch Auction**    | **Price decreases over time until all nfts are minted**                                  |
| **English Auction**  | **Price increases over time until all nfts are minted**                                  |
| **Cliff Pricing**    | **One price up-to \<number> of mints. Higher price after.**                              |


# Liquidity Generation Event (LGE)

### **Overview**&#x20;

A Liquidity Generation Event (LGE) is a unique and innovative mechanism to build initial liquidity on a new token in a manner that best incentivizes participants and open market buyers alike.

Governor DAO invented their LGE model with their own token launch in late 2020. Governor DAO was a fair launch token, and both team and community were interested in experimenting with new token launch models to utilize contributions in a way that is maximally effective for all involved.

The LGE model itself replaces the traditional token sale with a “lease” of user contributions to rent initial liquidity. Because ETH is paired with newly minted tokens, funds are multiplied out of the gate. Leveraging this phenomenon alongside different gamification and fees, the LGE creates an equitable opportunity for participants while simultaneously providing the project with the resources required.

The Model works as follows:

1. Sale of Synthetic LP (SLP) Vouchers&#x20;
2. Token Creation&#x20;
3. Initial Liquidity Generation&#x20;
4. Gamified Liquidity Redemption

![](/files/y5bUk82Dnb0HRHVS2TFt)

### LGE Mechanics

#### SLP Sale&#x20;

During an LGE, participants post ETH (or other token) towards initial liquidity, NOT to buy tokens.

In order to track contributions, users receive a Synthetic LP (SLP) token that acts as a “voucher” for their contribution. Later on, users will be able to exchange SLP for real LP tokens.

SLP plays the role of “on-chain accounting.” There is no fixed value for SLP. Rather, SLP will have some % conversion to real LP when that exchange can take place. As SLP is a normal ERC20 token, users can transfer tokens between accounts and trade OTC if they wish to do so.

The SLP sale has three pertinent parameters:&#x20;

* Hard Cap: The maximum contributions before sale ends&#x20;
* Soft Cap: The minimum contributions to continue to token creation&#x20;
* Duration: Length of SLP sale

The sale runs until the Hard Cap is met or the duration is concluded, whichever comes first.

If the soft cap is not met (meaning the minimum contributions were not achieved), then the proceeds are returned to the contributors. The SLP is delivered at contribution, and can be used to return ETH pro rata to contributors.

If the soft cap is met by duration or once Hard Cap is met, Token Creation takes place.&#x20;

#### Token Creation&#x20;

Token Contract for the project corresponding to the LGE is created.

The LGE is intentionally designed so that the token is not created until the LGE concludes. This is so that freshly minted tokens are paired with LP, multiplying contributions, and also guaranteeing that 100% of circulating supply exists in the token dex pair at launch.&#x20;

#### Liquidity Generation&#x20;

Proceeds from the SLP sale are paired with a percentage of token supply. There is no fixed starting price for the token. Rather, the final contributions from the SLP sale (between soft cap and hard cap) allow the market to determine an initial price of token and market cap of the project.

When initial liquidity is posted, that position is tokenized as ETH-Token LP. Some % of that LP is sent to the project as Protocol Owned Liquidity. The rest is sent to the gamified LP unlock.&#x20;

#### Gamified LP Unlock&#x20;

After initial liquidity is posted, the LP tokens are sent to an LP swap contract, where users can submit their SLP vouchers for the real LP they contributed to.

The LP unlock is gamified with a decaying fee. Once swapping from SLP to LP begins, there is a large, decaying fee on the swap. The fee sends some amount of the LP from the swap back to the protocol as Protocol Owned Liquidity.

Because ETH is turned into ETH + Token, the LP has a multiplier on original contributions. Additionally, 100% of supply exists as market LP, therefore number must go up (there are no circulating tokens to sell, they must be bought first).

Through these mechanics, we know that the LP equivalent of SLP is worth some strong multiplier from the original contribution (based on project % splits). Participants may elect to withdraw LP early at a large decay fee in order to realize gains. These large taxes bolster Protocol Owned Liquidity and ensure that, by the end of the event, all LP may be redeemed without decay, there remains some large amount of Protocol Owned Liquidity.

Note that there is no pre-determined SLP:LP exchange ratio. SLP redeemed is burned, and the SLP:LP ratio is fixed at supply of SLP/LP remaining in the swap contract.&#x20;

### LGE Economics&#x20;

Why LGE vs Token Sale? There are several quirks that properly incentivize all parties (contributors, open market buyers, protocol team) in a way that traditional token sale models can’t replicate:&#x20;

#### Multiplied Contributions&#x20;

ETH contributed becomes ETH + Token (in the form of LP tokens). The tokens are newly minted and paired with ETH. In a normal sale, ETH is swapped for tokens: Users can, at best, get 100% on their contribution (less if they got in at a worse sale price).

In the LGE model, users get between 100-200% on their contribution immediately. The exact return is dependent on how much of contributions are posted as LP for the Gamified Swap vs other uses (LGE sale fees, Protocol Owned Liquidity).&#x20;

#### Guaranteed Price Discovery&#x20;

The first time tokens touch the market is on LP posting. The only way people can get those tokens is to buy them from the market. As a result, the price of the token must go up (to some extent). The market chooses the value of the project, not the token sale.&#x20;

#### Limited Downside to Contributors

Contributions are stored as LP, not the token itself. Due to the nature of AMMs and LPs, plus the “multiplier” outlined above, contributors are significantly insulated from poor market performance.

The table below outlines the % of funds by contributors allocated to the LP redemption and the price of token (vs launch price) required to maintain breakeven.

| % of Funds redeemable by LP Unlock | Multiplier on Contributions | Price depreciation till “breakeven” |
| ---------------------------------- | --------------------------- | ----------------------------------- |
| 50%                                | 1x                          | 0%                                  |
| 60%                                | 1.2x                        | -31%                                |
| 70%                                | 1.4x                        | -49%                                |
| 80%                                | 1.6x                        | -61%                                |
| 90%                                | 1.8x                        | -69%                                |
| 100%                               | 2x                          | -75%                                |

Note that these metrics ignore trading fees accrued by the trading pair. The real depreciation benchmarks in practice are lower to hit breakeven.&#x20;

### LGE Tokenomics/Variables&#x20;

The LGE requires each of the following variables across different contracts:&#x20;

#### Token Contract&#x20;

* Token Supply&#x20;
* Supply Breakdown&#x20;
  * % of supply allocated to LGE&#x20;
  * All other supply breakdowns&#x20;
    * Required vesting on other supply components dated from Liquidity Posting&#x20;

#### SLP Sale&#x20;

* Contribution Token (ETH or otherwise)&#x20;
* Hard Cap: Maximum funds (priced in contribution token) to take on&#x20;
* Soft Cap: Minimum funds required to launch the token&#x20;
* Start/End/Duration: When the LGE takes place and for how long&#x20;
* Breakdown of Proceeds&#x20;
  * % of contributions paired with LP and claimable by user (must be 50-100%)&#x20;
  * % of contributions to Protocol Owned Liquidity&#x20;
  * % to GDAO team and client&#x20;
* Individual Cap: Maximum amount a wallet can contribute

#### Gamified LP Unlock&#x20;

* Unlock Time: Timestamp after conclusion of LGE when SLP swap opens&#x20;
* Decay Fee Start: highest unlock fee imposed on first day (eg 90%)&#x20;
* Unlock Duration: How long from start of unlock time until decaying fee decreases to 0%

#### Further Specification&#x20;

The LGE contracts are highly composable. They can be modified to incorporate different elements of gamification.

Additionally, through the use of Governor DAO Proof-of-Existence, LGE can be further bolstered with “human gated” elements. More on that here.

Additional gamification can look like:&#x20;

* Reflections in token contract to passively build LP&#x20;
* Presale mechanics for privileged accounts (perhaps POE holders) to protect a decentralized offering&#x20;
* Team owned vs permanently locked liquidity

If you have certain considerations for the LGE beyond what is highlighted, do not hesitate to engage with the team!&#x20;

### LGE Example

$TOKEN: 1,000,000 Supply&#x20;

* 75% allocated to LGE (750,000 TOKEN)

#### LGE specifications:&#x20;

* 10 ETH soft cap&#x20;
* 100 ETH hard cap&#x20;
* 1,000 Synthetic LP (SLP) per 1 ETH (1,000,000 SLP total supply)

#### Breakdown of proceeds:&#x20;

* 75% of proceeds to contributors&#x20;
* 10% to Protocol owned Liquidity&#x20;
* 10% to GDAO&#x20;
* 5% to protocol treasury

#### Swap terms:&#x20;

* 90% tax, decaying 1% each day

#### At end of LGE:&#x20;

* 50 ETH raised&#x20;
  * 50,000 SLP sold for 50 ETH&#x20;
    * 42.5 ETH (85% of proceeds) paired with 750,000 TOKEN&#x20;
    * 5,645 Uniswap V2 LP tokens created&#x20;
      * 4,981 LP redeemable for SLP&#x20;
        * 1 SLP = 0.09962 LP&#x20;
      * 664 LP back to protocol&#x20;
    * 5 ETH to GDAO&#x20;
    * 2.5 ETH to protocol&#x20;
* TOKEN price = 42.5 ETH / 750,000 TOKEN = 0.0000567 ETH&#x20;
* Market Cap = 56.67 ETH

#### User Story&#x20;

* 1 ETH contributed, 1,000 SLP received&#x20;
* 1.5x boost to contribution (75% \* 2). 1,000 SLP \~= 1.5 ETH
* User converts 1,000 SLP to LP at day 75&#x20;
  * Price is up 2x from start - 0.000113 ETH&#x20;
  * LP is up 1.42x&#x20;
    * AMM is 60.10435 ETH + 530,325 TOKEN (excluding trading fees!)&#x20;
  * User is taxed 15% (90 - 75)&#x20;
  * User receives 84.677 LP worth 7,955 TOKEN and 0.9 ETH (1.8 ETH total)&#x20;
    * Protocol receives 14.943 LP worth 1,403 TOKEN and 0.15 ETH (0.3 ETH total)

The following spreadsheet showcases how the % of contributions going back to users + price multiplier + early unlock decay work together. Note that, unless users exit extremely early or token price diminishes significantly, contributors are typically looking at a good return.

With most of the supply posted as LP initially, it’s very difficult for the token not to perform well after launch.

<https://docs.google.com/spreadsheets/d/1QaPwOqqgIhuRDWCWX58rhDLLYXTltXSfCV3vH0LEYBw/edit?usp=sharing&#x20>;

### **Document Terminology**&#x20;

Follows references detailed in the document.&#x20;

* sLP - Synthetic Liquidity Provider.
* LP - Liquidity Provider LGE - Liquid Generation Event&#x20;
* AMM - automated market maker&#x20;
* Hard Cap: The maximum contributions before sale ends&#x20;
* Soft Cap: The minimum contributions of the sale in order to continue to token creation&#x20;

### **Proof of Existence Token use cases and examples in combination with LGE**&#x20;

Exclusive to PoE holders, presale participants will&#x20;

* Receive a % bonus on their contributions for having a PoE or native token.&#x20;
* Holding x amount of GDAO (or project native token) during the main sale will also benefit from a % bonus.&#x20;

### **Dev Reference**

These are the pertinent contract calls required for developers to admin as well as to build out a customized frontend on top of the smart contracts.

Key:&#x20;

Admin \
Frontend

Crowdsale Contract

Read contracts&#x20;

openingTime - timestamp when Crowdsale begins&#x20;

* Reference in frontend countdown timer&#x20;

closingTime - timestamp when Crowdsale ends&#x20;

* Reference to cutoff of sale&#x20;

isOpen - boolean for whether or not Crowdsale is active&#x20;

* Alt. Reference for whether to populate sale or not&#x20;

getCap(address) - Maximum amount user can contribute&#x20;

* Check that user is not contributing more than max&#x20;

getContribution(address) - shows how much a user has previously contributed&#x20;

* Reference for user input, make sure if they have already contributed the new contribution doesn’t exceed Max&#x20;

weiRaised - shows how much contributions (in wei) have been contributed globally&#x20;

* Reference to make sure the user input contribution doesn’t exceed max remaining capacity
* Need to convert from wei to ETH&#x20;

TotalCap&#x20;

* Reference vs totalContributions to know how much space is remaining

Write Contracts

purchase(ether, address) - user input command to contribute so much ETH and recipient address

* Primary function in frontend for users to contribute to the sale

[Synthetic LP](https://etherscan.io/address/0xf3efeb0dbff5f06bae6c61cca6ac7eeb9a176f17#readContract)

Read Contracts

Allowance(address owner, address spender) - Sees how much a spender is already authorized for an input address&#x20;

* Check to see if need to require an approval transaction

BalanceOf(address) - Gets balance of token for input address&#x20;

* Populate balance on frontend and input into swap field for LP swap

Write Contracts

Approve(address, uint256) - gives input address permission to spend up-to input uint256 number of coins This is needed for the LP swap, need to approve the LP contract before the swap can happen

[Swap Contract](https://bscscan.com/address/0x7aada33b94ac4f84762a28396396332658a170ed#code)

Read Contracts&#x20;

calculateTokens(uint256) - returns how many output tokens for input tokens received. Accounts for active tax.&#x20;

* Use to surface how much LP users will receive on execution of swap for user input SLP

taxRate - Current tax rate&#x20;

* Reference to highlight to users if there is still a decaying tax

taxPeriod - number of days till tax is exhausted&#x20;

* Reference to show users how long they need to wait until tax is eroded

dailyTaxRate - how much tax rate decreases each day&#x20;

* Reference to show users how much tax decays each day

Write Contracts

swapTokens(uint256) - input tokens exchanged for output LP&#x20;

* Users will engage here after approval to execute swap

initiateSwap - activates the swap contract&#x20;

* Swaps not active until activation

setTaxEnabled(bool) - emergency turn tax off

### **LGE project requirement parameters**&#x20;

The following information is required and must be provided by the project planning to execute an LGE. Information collected provides aligned expectations and an understanding of how the LGE will play out.&#x20;

<https://docs.google.com/spreadsheets/d/1wL91Kg5GHrofBN7pXAAJc17XVkdERXectRzI-NBtfh8/edit?usp=sharing>

### **Additional References**

[Original Governor DAO LGE Overview](https://dunk.medium.com/governor-lge-begins-11-16-4pm-pt-76ab8f5be7c5)

[Example LGE mechanics (Muse DAO)](https://docs.governordao.org/archived_documents/mdao-lge-guide-muse-dao)


# Governance Vault

https\://vault.governordao.org/

### **Executive Summary**

The following outlines the Governance Vault, as well as an overview of the contracts comprising the initial vault rollout and how the community can test and prepare these contracts for mainnet usag&#x65;**.**

Vault site: [https://vault.governordao.org/](http://vault.governordao.org/)

### **Contract Addresses (Mainnet)**

| Contract                        | Address                                                                                                               |
| ------------------------------- | --------------------------------------------------------------------------------------------------------------------- |
| GDAO Token                      | [0x515d7e9d75e2b76db60f8a051cd890eba23286bc](https://etherscan.io/address/0x515d7e9d75e2b76db60f8a051cd890eba23286bc) |
| xGDAO Governance Vault          | [0x306978da6ebee060375f35418744f85c1cb6b353](#executive-summary)                                                      |
| Buyback Agent                   | [0x7f651fa68337208ed54e92dde8a52c5d8b629a5c](#executive-summary)                                                      |
| POE                             | [0x5945baf9272e0808165adea61b932ec1604fb161](#okay-so-what-does-this-mean-for-me)                                     |
| POE Purchase "Payment Splitter" | TBD                                                                                                                   |
| FinnoSplitter (Auxiliary)       | TBD                                                                                                                   |
| Uniswap GDAO-ETH V2             | [0x4d184bf6f805ee839517164d301f0c4e5d25c374](https://etherscan.io/address/0x4d184bf6f805ee839517164d301f0c4e5d25c374) |

### **Governance Vault Importance/Intentions**

Creating a working DAO is a challenging endeavor with numerous interactive parts. The nature of any business suggests that certain individuals must play privileged roles. This reality is sometimes at odds with the intentions behind the DAO ethos.

There are several strategies we can employ to maintain privileged/permissioned roles in a DAO model. Token holders can elect/appoint privileged roles. We can create checks and balances to keep privileged counter-parties honest. And as much as possible, we can automate operations and management in code.

The Governance Vault is a powerful, scaling, future-proof mechanism to bake Governor DAO accounting and finances into code. Modular smart contracts work together to handle incoming revenue and distribute per the rules set by token holders.

**There are 3 Components to this Design:**&#x20;

1\.   On-chain product(s). On-chain products drive ETH and ERC-20 tokens to the Buyback Agent.&#x20;

2\.   Buyback Agent - The Buyback Agent splits the incoming revenue stream in several different directions (earnings to the treasury, dividends to holders, DEX liquidity adds)

3\.   The xGDAO Vault - The xGDAO Vault manages the Buyback Agent and on-chain products and additionally organizes dividend distribution to token holders.\
\
On-chain products (Payment Splitter) are public-facing and designed to automatically route incoming payments to the intended destination. For the Proof-of-Existence purchase contract, payments automatically handle referral commissions and payment price dynamically upgrades along a bonding curve per the number of sign-ups (more signups ⇒ higher price). These contracts are upgrading: variables like the % commission, Governor NFT multipliers, destination addresses for ETH, etc. can be upgraded (first by the team, and ultimately by xGDAO holders autonomously).

Buyback Agent reflects an “on-chain monetary policy” that receives all incoming revenue and deploys that revenue per the discretion of xGDAO holders. This includes a variable % split to liquidity add, dividends to xGDAO depositors, and coin to the treasury. The buyback agent is callable by anyone and features preset parameters for how big of buybacks should take place and at what frequency of time (initially, up to 0.5 ETH every 72 hours). The user who calls the function also receives a portion (currently 0.0003 ETH) of the proceeds as a gas reimbursement and a small payment for their efforts.

xGDAO Vault is the key component that gives GDAO holders immutable keys to the kingdom. Any holder can deposit to xGDAO, and in doing so, they will passively receive GDAO drip to their deposits from the Buyback Agent relative to their weight in the vault. Holding xGDAO also gives governance control over the smart contracts and DAO treasury (and ultimately, will replace the “admin keys” altogether). Users deposit GDAO to get a tokenized share in the vault, xGDAO, and that xGDAO can be redeemed for an increasing amount of GDAO per the consistent buybacks that add more GDAO to the vault for depositors.

![Vault funnel strategy](/files/GiLjta2dIMeBKyGA1pIn)

The biggest distinction is that there is no “team” or “admin” that operates these functions. Token holders are the owners: this is fully autonomous revenue management.

The Governance Vault has been deployed alongside the Proof-of-Existence whitelist, which will take a sign-up fee priced in ETH in the future. ETH from POE signups goes to the Buyback Agent, which in turn delivers ETH to the specified destinations (a) liquidity add, (b) GDAO buyback and delivery to xGDAO participants, and (c) treasury draw. Other revenue including LGE (Liquid Generation Events) or NFT sales from the NFT [Launchpad](https://nft.governordao.org/) will be sent to the buyback contract.

For the GDAO holder, the interactions go like this:

1. GDAO holder deposits token in GDAO, receives a corresponding share of xGDAO (Input your GDAO, Receive xGDAO)
2. ETH from on-chain revenue buys GDAO. This GDAO is awarded to all xGDAO holders by increasing the GDAO value of every xGDAO.
   1. xGDAO is representative of GDAO in the Governance vault. Every time there is a buyback, the GDAO value of xGDAO increases.
   2. As such, participants holding xGDAO passively earn more GDAO over time.
3. xGDAO also Governs the associated contracts. xGDAO holders can vote to adjust the monetary policy by changing what % of revenue is sent to each destination through the Buyback Agent (in other words, xGDAO holders autonomously determine what % of revenue goes to liquidity, GDAO buybacks for xGDAO/ETH to the treasury, or GDAO buyback to treasury)

It’s important to recognize that xGDAO yield comes from open market buybacks driven by on-chain revenue. Without healthy enrollments and adoption of POE, buybacks/dividends will remain minimal.&#x20;

In order for the Governance Vault and initial product rollouts to reach mass adoption, the GDAO community needs to engage with these contracts, test the products, refer their friends, and help spread adoption organically. In true DAO fashion, Governor DAO succeeds with everyone’s involvement!

### **Okay, so what does this mean for me?**

The Governance Vault is designed to be a massively scaling, future-proof engine that permanently positions GDAO and GDAO holders at the center of everything in the Governor ecosystem.

The Governance Vault allows us to easily append every Governor product and buildout to the existing framework, with each instance generating revenue that buys back GDAO and delivers it to xGDAO holders through the Governance Vault.

GDAO's suite of products have the potential for massive network effects, becoming more profitable as their adoption grows.

Because of this “get the ball rolling” setup, the engagement of the core GDAO holders is the most important part in getting this entire behemoth situated for success. Governor was designed around the ethos that DAOs should encourage the engagement of every token holder, and the DAO should be situated in such a way where that engagement drives value to the DAO and awards incentives for that engagement. This is our way to guarantee growth within the Governor community. We have seen success with this model with the introduction of our GDAO Ambassadors Program.

###


# Governance Vault User Guide

https\://vault.governordao.org/

### **Executive Summary**

The following outlines the Governance Vault, as well as an overview of the contracts comprising the initial vault rollout and how the community can test and prepare these contracts for mainnet usag&#x65;**.**

Vault site: [https://vault.governordao.org/](http://vault.governordao.org/)

### **Contract Addresses (Mainnet)**

| Contract                        | Address                                                                                                               |
| ------------------------------- | --------------------------------------------------------------------------------------------------------------------- |
| GDAO Token                      | [0x515d7e9d75e2b76db60f8a051cd890eba23286bc](https://etherscan.io/address/0x515d7e9d75e2b76db60f8a051cd890eba23286bc) |
| xGDAO Governance Vault          | [0x306978da6ebee060375f35418744f85c1cb6b353](#executive-summary)                                                      |
| Buyback Agent                   | [0x7f651fa68337208ed54e92dde8a52c5d8b629a5c](#executive-summary)                                                      |
| POE                             | [0x5945baf9272e0808165adea61b932ec1604fb161](#okay-so-what-does-this-mean-for-me)                                     |
| POE Purchase "Payment Splitter" | TBD                                                                                                                   |
| FinnoSplitter (Auxiliary)       | TBD                                                                                                                   |
| Uniswap GDAO-ETH V2             | [0x4d184bf6f805ee839517164d301f0c4e5d25c374](https://etherscan.io/address/0x4d184bf6f805ee839517164d301f0c4e5d25c374) |

### **Governance Vault Importance/Intentions**

Creating a working DAO is a challenging endeavor with numerous interactive parts. The nature of any business suggests that certain individuals must play privileged roles. This reality is sometimes at odds with the intentions behind the DAO ethos.

There are several strategies we can employ to maintain privileged/permissioned roles in a DAO model. Token holders can elect/appoint privileged roles. We can create checks and balances to keep privileged counter-parties honest. And as much as possible, we can automate operations and management in code.

The Governance Vault is a powerful, scaling, future-proof mechanism to bake Governor DAO accounting and finances into code. Modular smart contracts work together to handle incoming revenue and distribute per the rules set by token holders.

**There are 3 Components to this Design:**&#x20;

1\.   On-chain product(s). On-chain products drive ETH and ERC-20 tokens to the Buyback Agent.&#x20;

2\.   Buyback Agent - The Buyback Agent splits the incoming revenue stream in several different directions (earnings to the treasury, dividends to holders, DEX liquidity adds)

3\.   The xGDAO Vault - The xGDAO Vault manages the Buyback Agent and on-chain products and additionally organizes dividend distribution to token holders.\
\
On-chain products (Payment Splitter) are public-facing and designed to automatically route incoming payments to the intended destination. For the Proof-of-Existence purchase contract, payments automatically handle referral commissions and payment price dynamically upgrades along a bonding curve per the number of sign-ups (more signups ⇒ higher price). These contracts are upgrading: variables like the % commission, Governor NFT multipliers, destination addresses for ETH, etc. can be upgraded (first by the team, and ultimately by xGDAO holders autonomously).

Buyback Agent reflects an “on-chain monetary policy” that receives all incoming revenue and deploys that revenue per the discretion of xGDAO holders. This includes a variable % split to liquidity add, dividends to xGDAO depositors, and coin to the treasury. The buyback agent is callable by anyone and features preset parameters for how big of buybacks should take place and at what frequency of time (initially, up to 0.5 ETH every 72 hours). The user who calls the function also receives a portion (currently 0.0003 ETH) of the proceeds as a gas reimbursement and a small payment for their efforts.

xGDAO Vault is the key component that gives GDAO holders immutable keys to the kingdom. Any holder can deposit to xGDAO, and in doing so, they will passively receive GDAO drip to their deposits from the Buyback Agent relative to their weight in the vault. Holding xGDAO also gives governance control over the smart contracts and DAO treasury (and ultimately, will replace the “admin keys” altogether). Users deposit GDAO to get a tokenized share in the vault, xGDAO, and that xGDAO can be redeemed for an increasing amount of GDAO per the consistent buybacks that add more GDAO to the vault for depositors.

![Vault funnel strategy](/files/GiLjta2dIMeBKyGA1pIn)

The biggest distinction is that there is no “team” or “admin” that operates these functions. Token holders are the owners: this is fully autonomous revenue management.

The Governance Vault has been deployed alongside the Proof-of-Existence whitelist, which will take a sign-up fee priced in ETH in the future. ETH from POE signups goes to the Buyback Agent, which in turn delivers ETH to the specified destinations (a) liquidity add, (b) GDAO buyback and delivery to xGDAO participants, and (c) treasury draw. Other revenue including LGE (Liquid Generation Events) or NFT sales from the NFT [Launchpad](https://nft.governordao.org/) will be sent to the buyback contract.

For the GDAO holder, the interactions go like this:

1. GDAO holder deposits token in GDAO, receives a corresponding share of xGDAO (Input your GDAO, Receive xGDAO)
2. ETH from on-chain revenue buys GDAO. This GDAO is awarded to all xGDAO holders by increasing the GDAO value of every xGDAO.
   1. xGDAO is representative of GDAO in the Governance vault. Every time there is a buyback, the GDAO value of xGDAO increases.
   2. As such, participants holding xGDAO passively earn more GDAO over time.
3. xGDAO also Governs the associated contracts. xGDAO holders can vote to adjust the monetary policy by changing what % of revenue is sent to each destination through the Buyback Agent (in other words, xGDAO holders autonomously determine what % of revenue goes to liquidity, GDAO buybacks for xGDAO/ETH to the treasury, or GDAO buyback to treasury)

It’s important to recognize that xGDAO yield comes from open market buybacks driven by on-chain revenue. Without healthy enrollments and adoption of POE, buybacks/dividends will remain minimal.&#x20;

In order for the Governance Vault and initial product rollouts to reach mass adoption, the GDAO community needs to engage with these contracts, test the products, refer their friends, and help spread adoption organically. In true DAO fashion, Governor DAO succeeds with everyone’s involvement!

### **Okay, so what does this mean for me?**

The Governance Vault is designed to be a massively scaling, future-proof engine that permanently positions GDAO and GDAO holders at the center of everything in the Governor ecosystem.

The Governance Vault us to easily append every Governor product and buildout to the existing framework, with each instance generating revenue that buys back GDAO and delivers it to xGDAO holders through the Governance Vault.

GDAO's suite of products have the potential for massive network effects, becoming more profitable as their adoption grows.

Because of this “get the ball rolling” setup, the engagement of the core GDAO holders is the most important part in getting this entire behemoth situated for success. Governor was designed around the ethos that DAOs should encourage the engagement of every token holder, and the DAO should be situated in such a way where that engagement drives value to the DAO and awards incentives for that engagement. This is our way to guarantee growth within the Governor community. We have seen success with this model with the introduction of our GDAO Ambassadors Program.

### **Governance Vault User Guide**

Head over to <https://vault.governordao.org/> and connect your wallet to Mainnet. You will be interacting with each of the two contracts: xGDAO and Buyback Agent initially.

![](https://lh6.googleusercontent.com/wz_cOuVgYOU1gVvSrSzWTFq75WlpesMIqgLUl493b-r5NwULAPjTWgAhpfMs4IhTTgbqTkUfUYIzr35q4hMdZFSUPYGHL8OMWDjU7D27Y9KyNlX5oEZmVMbhILy1dJxbKQx3RBWT=s0)

**Basic Vault Functionality**

* Deposit GDAO to vault
* Withdraw GDAO from the xGDAO contract.&#x20;

xGDAO is a tokenized share of all GDAO in the governance vault.

When depositing GDAO, you receive a corresponding amount of xGDAO depending on the current xGDAO:GDAO ratio. Initially, 1 GDAO = 1 xGDAO. Every time a buyback takes place, the GDAO value of xGDAO increases.

**NOTE:** There are two fees on xGDAO, a 10% decaying fee on early withdrawal and a 3% entry tax on non-authenticated users (those who don’t hold POE).\
\
**For Example:**

* You are the first and only depositor. You deposit 100 GDAO and receive 100 xGDAO.\ <br>

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |

* A buyback for 100 GDAO takes place. That GDAO is transferred into the vault. Now there are 200 GDAO deposited and 100 xGDAO in circulation. Your 100 xGDAO is now worth 200 GDAO.

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |
| **0**           | **100**          | **0**           | **0**            | **200**           | **100**          | **2**                   |

* Another user deposits 100 GDAO. 1 xGDAO = 2 GDAO, so they receive 50 xGDAO.

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |
| **0**           | **100**          | **0**           | **0**            | **200**           | **100**          | **2**                   |
| **0**           | **100**          | **0**           | **50**           | **300**           | **150**          | **2**                   |

* You return your 100 xGDAO to withdraw 200 GDAO. Now there are 50 xGDAO and 100 GDAO.

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |
| **0**           | **100**          | **0**           | **0**            | **200**           | **100**          | **2**                   |
| **0**           | **100**          | **0**           | **50**           | **300**           | **150**          | **2**                   |
| **200**         | **0**            | **0**           | **50**           | **100**           | **50**           | **2**                   |

* Another 100 GDAO buyback happens. Now there are 50 xGDAO and 200 GDAO. 1 xGDAO = 4 GDAO.

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |
| **0**           | **100**          | **0**           | **0**            | **200**           | **100**          | **2**                   |
| **0**           | **100**          | **0**           | **50**           | **300**           | **150**          | **2**                   |
| **200**         | **0**            | **0**           | **50**           | **100**           | **50**           | **2**                   |
| **200**         | **0**            | **0**           | **50**           | **200**           | **50**           | **4**                   |

Deposit/withdrawal in/out from xGDAO. Cycle between the deposit/withdraw tabs. Note that you will need to approve the token transfer before deposit/withdrawal.

![](https://lh5.googleusercontent.com/fHbKSRkVBQs23xSCw6zTadsJtfMrvgbgMZpmsfH6gzlqXedVsylvuqkXieXNyTkeSEITHKXVmpVpLBwhzPDmAdC4Rb0Q5LDhg1TvmGOHxlYaAnXwc3FO79FmqPDvVhCyHscLBs88=s0)

**Warning on a Non-PoE Fee**

If the connected wallet to the vault does contain a PoE \[Proof of Existence] token, a 3% fee will be deducted on deposit and distributed to other GDAO holders in the vault. To avoid the fee, sign up for your own PoE token through the [Proof of Existence Portal](https://onlyoneme.governordao.org)

![](/files/QEjrvCzqgEltKthuIoE5)

**Warning on Early Withdrawal Decay Fee**

As mentioned, an early withdrawal before the 10-day period will result in a decaying fee % which decreases daily.

![](/files/Awrw6HkftOaGCjt1zUJZ)

In order to prevent gaming, there is a decaying fee on withdrawal. This is to prevent someone from depositing GDAO right before a buyback and withdrawing right after. If you deposit more, your time decay resets. The fee starts at 10% and decays -1% each day. Therefore if you deposit 1000 GDAO and decide to withdraw within 24 hours your GDAO withdrawal will be 900 GDAO.

You should notice that your GDAO/xGDAO balances will change with these interactions.

![](/files/iwpCjpasC2XCuE66RsOp)

**PoE Purchase**&#x20;

In its current setup the PoE token is free + gas to claim. At a later date the cost of the PoE token will be priced around a bonding curve: cheap for the first signups and increasingly expensive over time (with more signups, the value of being part of the list increases as more and more projects will be looking to leverage the “global whitelist”).<br>

Purchasing PoE token with a referral URL \[<https://passport.governordao.org>]

By default a referral link will be displayed in the following format:\
[**https://vault.governordao.org/?ref=0x**](https://vault.governordao.org/?ref=0x)**\<ETH\_Wallet\_Address>**

By default a referral link will be displayed in the following format:&#x20;

**Register for Hashing**

The URL link can be shared exposing your ETH wallet address or you have the option to hash the wallet address which will mask the identity of the wallet and provide you with a new referral URL which will typically look twice the size but the address won’t be in a recognized format.&#x20;

**Important note:** The hashing of your wallet address is specific to the vault smart contract only, no changes are made to your Metamask or connecting wallet.&#x20;

To hash your wallet address a one-off charge \[ETH/GAS] will need to be approved

When providing your referral URL, when the receiver pastes in their browser, the referral link will be reflected in  ‘Purchase PoE’ section which is only displayed once that person is VIP enrolled through the ‘Authentication Portal’&#x20;

If the referral is an authenticated address as the owner of the referral address 2.5% of the ETH is received per purchase and an increase on the ‘Referred users’ counter detailed below.<br>

![](https://lh3.googleusercontent.com/oxDTrZZyjEcfsmhROOwr44GxxGoruPcS7Rbmm7HU1MImE3tQpAK5wuk6W05ge4PWNO5j97yqvrRlUw6kwa_GKr-noz6-5DKhNUPJNyDpJQGdrCWPGzJIb9NPHR3oe-m4IaePzz6P=s0)

**Note that you are only able to purchase once!**

#### **Execute Buyback**

ETH from PoE purchases are sent to the “Buyback Agent”. The Buyback Agent sends that ETH in a number of configured directions.&#x20;

* The execution buys GDAO to add liquidity to the vault resulting in rewards to xGDAO participants.
* ETH is also sent to the treasury to build reserves.
* A % reward to the “contract caller”.&#x20;

Smart contracts do not operate by themselves - they need addresses to kick off transactions. Anyone can execute the buyback, and in doing so, they get a “caller fee” to help cover gas fees + a small reward.

<br>

![](/files/hFvXsp5cMzXGQaCpREjt)

**Note that there is a time restriction on buybacks therefore a buyback will only be available periodically.**&#x20;

In production, the goal will be to normalize the revenue “drip” from the Buyback Agent to the pertinent destinations, so the Agent has several restrictions on it:&#x20;

1. Time restriction where a purchase can only be made so frequently (this spaces out buybacks in case there is any major fluctuation in revenue).
2. Nominal ETH limit to prevent sandwich attacks that prey on large Uniswap purchases.
3. \[optional] ETH buyback minimum to prevent dust/DOS attacks.

#### **Raising Issues Through to the Team**

If any issues are experienced with enrollment or website issues, there are several options to source assistance

&#x20;**Request a Team Member in the following Governor Dao Community Spaces:**

**Governor DAO Telegram -**[ **https://t.me/GovernorProject**](https://t.me/GovernorProject)

**Governor DAO Discord -**[ **https://discord.gg/MVh5NkN7gt**](https://discord.gg/MVh5NkN7gt)

**Governor Dao Blog -** [**https://blog.governordao.org/help-desk-form/**](https://blog.governordao.org/help-desk-form/)

## **Glossary**

#### **Governance Vault Terminology**

**xGDAO:** The revenue sharing, governance, and ownership token at the center of the Governor DAO ecosystem. xGDAO is a derivative of GDAO, initially pegged 1:1, with the GDAO value of xGDAO increasing with revenue realized. Users can always mint xGDAO using GDAO and redeem xGDAO back for the underlying GDAO with no penalty\*

**\*Subject to decay conditions detailed on an early withdrawal**<br>

**Governance Vault:** The smart contract that owns other Governor DAO smart contracts. Ownership represents the ability to upgrade, replace, and phase out these contracts. Ownership decisions from the Governance Vault are made via consensus among the xGDAO holders who participate in this vault.<br>

**Revenue Splitter:** A smart contract that handles on-chain sales of GDAO products (initially, Proof-of-Existence signups). It designates the different destinations of ETH from incoming sales (ie: splitting some % to referrers, some % to Buyback Agent, etc.).<br>

**Buyback Agent:** A smart contract responsible for Governor DAO revenue strategy. On-chain revenue is sent to the Buyback Agent, which then converts and sends to destinations as needed. Buyback Agent will buy GDAO from the open market to deliver to xGDAO participants as revenue share, as well as to replenish the treasury and add liquidity.<br>

**Proof-of-Existence (PoE):** Governor DAO’s biometric blockchain product that tags Ethereum addresses as belonging to provably unique individuals. The POE itself is a non-transferrable ERC20 that is anchored to the wallets of users who sign up. Any developer can reference that POE token to create authenticated smart contracts.\ <br>

###

<br>


# FAQ Governance Vault

A number of questions have surfaced since the vault has launched. Questions answered below\..

### FAQ Governance Vault v1.1

1\. **Can I deposit directly from Gate.io? (Gate.io is for non-US residents only)**

No, you must deposit using a Web3 compatible wallet ie Metamask.

2\. **Can I just transfer my GDAO into the Governance Vault instead of using the deposit function?**

No, if you do this you will lose your GDAO, and you will not be compensated!

3\. **Do I need to have a PoE Token to deposit to the vault?**

No PoE token is required, Vault is open to any GDAO holders but there will be a 3% fee of GDAO which was decided by the community.

4\. **Will I be warned or prompted about deposit fees when using a wallet without a PoE token or withdrawal fees when withdrawing early?**

Yes, for any fee on deposit or withdrawal a warning will display. The frontend website will detect the status of your PoE token and whether you are withdrawing early (under 10 days).&#x20;

![](/files/EHwvDbR2XyujDbn7N14i)

![](/files/De5yb49R8WkTtDSWDH7A)

5\. **How do I deposit my GDAO into the vault**

Navigate to the following URL [Governance Vault - Governor DAO](https://vault.governordao.org/), first transaction will be an ‘***Approve***’ and 2nd will be a ‘***Deposit***’ transaction which are both standard transactions that require gas \[eth]

**6. I enrolled for Proof-of-Existence, but I don’t see my wallet as holding a PoE token, Please explain?**

Once your [PoE enrollment](https://onlyoneme.governordao.org) is complete, you can mint your POE token from the [PoE Passport Portal](https://passport.governordao.org), which will cost a small gas fee to complete the transaction. An automated process runs every 4 hours which collects new enrollments and authorizes the new wallet to mint a PoE token. Once minted, the PoE token will not automatically be visible in your wallet, add the following contract address on Mainnet 0x5945bAF9272e0808165aDea61b932eC1604FB161

7\. **Why did APR go up/down?**

APR is dependent on a few different variables. It goes down when more users deposit (up when they withdraw). It goes down when GDAO goes up relative to ETH, and it goes up when GDAO goes down relative to ETH. These metrics don’t include the Non-PoE fees and early decay fees which can’t be incorporated.

8\. **My xGDAO is worth less than when I deposited it. I was informed xGDAO will only increase!**

The GDAO value of xGDAO only goes up, indefinitely. The dollar price can fluctuate in both directions as the price of GDAO does.

9\. **Why is my xGDAO not increasing in the ‘Wallet/Vault Balances’ panel**

When depositing GDAO, xGDAO is received as a receipt token. GDAO is staked in the vault not xGDAO therefore the value of xGDAO will increase not your holdings. Your GDAO balance will increase, not xGDAO.

10\. **I have staked my GDAO and not seeing any increase, please explain?**

There are 3 core components which would trigger an increase to your holdings.

&#x20;  a) GDAO deposits from a holder without a PoE token which would result in a 3% fee (GDAO) deposited into the vault, pushing up the value of xGDAO.

&#x20;  b) GDAO withdraws within 10 days, early withdrawals result in a decay fee starting at 10% on first day, decreasing 1 % per day. Decay fee of GDAO again distributed into vault increasing value of xGDAO and your GDAO balance.

&#x20;  c) BuyBack agent, when buybacks are active anyone can initiate a buyback every 72 hours (3 days), a buyback will pull ETH into the contract and kick off several transactions including buying GDAO from open market and LP. The transaction will increase the value of xGDAO and your GDAO balance. **Very important to note**, there must be ETH deposited to the buyback agent to allow a buyback. The community approved a vote [\[Link\]](https://forum.gdao.info/t/governance-vault-subsidization-strategy/2819) to subsidize ETH from the treasury to fund the vault until revenue starts to flow from NFT launches and potential LGE \[Liquid Generation Events] which the project will provide.

**11. How do I know how much ETH is available in the BuyBack agent and the duration it will last?**

There are two stats on the vault which will provide info on the above.

a) Buyback Agent Reservoir: xx days - In the stats panel there following value will display the number of days the buyback can run with the current ETH which is available.

b) In the 'Buyback Agent' panel the ETH balance displayed is the ETH that is remaining in the Buyback. Any proceeds from NFT launches etc will push the value up.

**12. What will happen if no one executes the buyback button, or if I execute it?**

If the Buyback button is not executed the only increase in rewards will be from non-PoE deposits and early withdrawal fees. The button must be manually executed to trigger off the buybacks detailed in Q9 c.&#x20;

If you execute the buyback there will be a gas cost for the transaction which will be reimbursed by the amount detailed in the buyback panel Reward: 0.xxxx ETH

13\. **Will the amount of xGDAO I receive change on deposit over time?**

The ratio or conversion on GDAO = XGDAO will change depending on how much GDAO is in the vault. If no one was to remove their GDAO over time depositors would receive less xGDAO for their GDAO. For example, early deposits would have received close to 1 GDAO = 0.9999 xGDAO, conversion on writing this is 1 GDAO = 0.9961 xGDAO therefore a slight decrease

14\. **Can I deposit from Ledger?**

Hardware wallets utilizing Web3 functionality (ie Ledger Live + MetaMask) can interact with the Governance Vault through the webpage.

15\. **After depositing GDAO and receiving xGDAO in my wallet, can I move xGDAO to a different wallet?**

xGDAO is an ERC-20 token therefore can be moved to any ERC-20 compliant wallet. If xGDAO is moved to another wallet, that wallet will need to be connected to the vault to withdraw the GDAO. Please note the 2nd wallet will not host a PoE token therefore if there is an intention to deposit back from the 2nd wallet there will be a non-PoE fee on deposit.

16\. **How can I see my xGDAO after I have staked my GDAO?**

Once GDAO has been staked in the vault and you receive xGDAO, you can view xGDAO in your wallet by adding the xGDAO contract ID to your wallet and it will then display your holdings.&#x20;

xGDAO Contract: 0x306978da6ebee060375f35418744f85c1cb6b353&#x20;

Additionally, there is an option to add the contract addresses to your wallet in the "Wallet/Vault Balances" panel of the Vault. Just click on the foxes.

![Click fox to add GDAO / xGDAO](/files/5zpl79xvvWZxlG3Svemz)

17\. **How do I find out more regarding the vault?**

You can learn more about the Vault in this [user guide](https://docs.governordao.org/how-to-section/governance-vault-user-guide).

![Vault Buyback Overview](/files/usd80xeHJ5h6b2irOjuu)


# Governance Vault Deployment Variables

Details on vault variables which can be changed in the future under a community vote

The Governance Vault and associated Buyback Agent is deployed to mainnet, which is the first iteration of Governor's autonomous, on-chain revenue model. This is very important in the iterative road to "DAOification". Note that several tweaks have been made to deployment variables versus community testing on Rinkeby. Tweaks made are starred and explained below.&#x20;

**Governance Vault**

* Tax for non-POE holders: 3%
* Decaying withdrawal fee: 10%. -1% per 24 hours
* Timelock on deposit: 600 seconds\*

**Buyback Agent**

* Maximum Buyback: 0.75 ETH
* Minimum Buyback: 0.01 ETH\*
* Buyback cooldown: 259200 (72 hours)
* Revenue Split:\*
  * Governance Vault: 50%
  * Liquidity Add: 40%
  * Treasury: 7.5%
  * Buyback Executor: 2.5%
* Treasury address: 0xc597b10eB4DBabA8c6a887792b60AabcBF27e076

Timelock: Timelock has been changed from 0 to 600 as a future-proof defense against an attacker looking to leverage GDAO/xGDAO with flash loans. Mintable-through-contract tokens (like xGDAO) have been vehicles for flash loan attacks against lending platforms recently ([$130mm CREAM drain](https://www.coindesk.com/business/2021/10/27/cream-finance-exploited-in-flash-loan-attack-worth-over-100m/) for example). A short timelock on deposits defeats this attack vector.

Minimum Buyback: Minimum buyback has been changed from 0 to 0.01 ETH in case of a nefarious "denial of service" style attack where users input 0 ETH (which is significantly cheaper gas-wise) to trigger the cooldown. This makes the DOS vector cost-prohibitive.

Revenue Split: Revenue split has been shifted slightly to include a 7.5% draw back to the treasury. Contract deployments and POE signups cost the treasury significant amounts in gas, and this split will alleviate that draw.

Treasury Address: Treasury has been set to [Gnosis GovBox](https://gnosis-safe.io/app/eth:0xc597b10eB4DBabA8c6a887792b60AabcBF27e076/balances) rather than [Aragon treasury](https://client.aragon.org/?#/gdao/0xaae388734ba304e77da770b04887e8e5801ddb5a/). This is due to the flexibility granted by Gnosis, which is important for quickly moving ETH for contract deployments as well as to more actively manage liquidity (treasury owned liquidity can be migrated to Uniswap V3 for better capital efficiency/lower slippage for users).

Please see the [Vault User Guide](https://docs.governordao.org/how-to-section/governance-vault-user-guide) for more information about interacting with the Governance Vault.


# GDAO Ambassadors (GAMBs)

### Purpose

* The goal of this program is to enable the Governor DAO community to contribute to the overall advancement of the protocol. GDAO wants to provide talented people who are willing to be dedicated to specific aspects of the organization opportunities to grow and thrive in our given industry.&#x20;
* Promotes further decentralization incentivizing GDAO holders to work for the DAO and receive rewards/payment for doing so.
* The Ambassador program aims to bridge all the necessary gaps between the developers and the community.
* As Governor DAO grows, there will be more opportunities to onboard more Ambassadors in accordance with that growth&#x20;

### Responsibilities&#x20;

**All Ambassadors:** will be responsible for attending weekly Ambassadors meetings, will remain active and engaging on GDAO social media handles, will be knowledgeable about all things GDAO, and will work closely with the community and core team in helping build out the decentralized future of Governor DAO.&#x20;

**Lead/Operations Ambassador:** will be responsible for communicating between the core team and the Ambassadors. They will oversee the itinerary of the other ambassadors and provide encouragement and support where needed. They will direct the onboarding process for newly elected Ambassadors and will be responsible for supporting any Ambassador for interim periods if needed.&#x20;

**Community Ambassador:** will be the first line of communications for Telegram/Discord assistance, will help troubleshoot PoE Authentication issues, and, when needed, will direct traffic to appropriate information or Ambassador for answers. They will dedicate time daily to interact with Telegram/Discord to push community engagement on GDAO proposals, initiatives, and social media posts.&#x20;

**Marketing Ambassador:** will establish new pipelines with NFT artists, interested DAOs, and content marketers (e.g., YouTube creators, Twitter influencers). They will aid in company engagement strategies, document any treasury and liquidity generation event proposals, and will generate regular treasury reports.&#x20;

**Business Development Ambassador:** will be responsible for Social Media Posting, handling the GAMB Twitter Account, finding new partnerships via social media, Twitter spaces, Reddit, Discord, direct messaging web3 related communities by establishing a connection and entering it into Google Spreadsheet; Following up with existing connections/leads for partnerships by tracking them via a google spreadsheet&#x20;

Each GAMB will be responsible for tracking their work in an excel spreadsheet which will detail the type of work done and the estimated time it took to complete it. The Lead Gamb will monitor this to track progress, and each GAMB will compile monthly and quarterly reports of work done.&#x20;

### Election Process & Payment&#x20;

To be eligible for the Ambassador Election, candidates will need to:&#x20;

* Hold a PoE token and be in the Human Chat.&#x20;
* Candidates must also commit to 10+ hours of work per week with tasks that are tracked and managed on Google Spreadsheets.&#x20;

Elections are held every quarter per the following procedures:&#x20;

NOTE: The inaugural set of elections are not subject to the same timeline, and each position is handled in accordance with what is outlined in 4a.&#x20;

1. Before the end of the current quarter, existing ambassadors signal their intent to extend or exit their role.&#x20;
   * a. If the ambassador chooses to extend, they are expected to detail the work done over the previous quarter and their plans for the upcoming quarter.&#x20;
   * b. No further information is necessary if they wish to exit, but they are expected to signal their exit on the forums.&#x20;
2. At 2pm Pacific Time on the 15th day of the new quarter, pursuant to the schedule outlined in 2.(b), a three-day PoE vote will take place on Snapshot for each Ambassador that has signaled the intention to extend their role for another term. During this time, existing Ambassadors will continue to fulfill their weekly duties.
   * a. A simple majority wins this vote, with no quorum requirement.&#x20;
   * b. Every quarterly vote will take place on the 15th by 2pm PST of the corresponding month, with Q1 starting February, Q2 May, Q3 Aug, Q4 Nov.&#x20;
   * c. Starting October 1, 2022, quarters will align with proper financial quarters.
3. In the event that a role is left vacant or token holders vote to “replace” the incumbent, anyone within the Governor DAO community who meets eligibility requirements can signal their intent to run for the challenged or vacant role.&#x20;
   * Candidates must signal their candidacy to the forums no later than 24 hours before these “contention” or “vacancy” elections take place.&#x20;
4. Any applicable follow-up votes will take place seven days after the first set of votes are concluded.&#x20;
   * a. If there are two or more candidates, each candidate for the position will be listed in a single-choice vote.&#x20;
   * b. If there is one candidate, that individual is automatically confirmed to the position.&#x20;
   * c. If there are no candidates, the position remains vacant and is the responsibility of the Lead Ambassador to fill or extinguish.&#x20;
5. If a seated Ambassador exits or is removed outside of this election cycle, the Lead Ambassador can fill the position with an interim replacement for the duration of the quarter OR extinguish said position until they see fitting, depending on the factors of incoming revenue, community interest and treasury funds.&#x20;

Once elected, the Ambassadors will get paid a USD rate in USDC or ETH each month. This payment will be distributed as follows:&#x20;

* Elected Ambassadors will be paid in “monthly increments”; these funds will be derived from GovBox to specified Ambassador positions.&#x20;
* After each consecutive full Quarter, incumbent ambassadors receive +33% raise from their base payment, capped out at +100% base pay on their fourth consecutive Quarter.&#x20;
* From the fifth consecutive quarter onwards, pay raises are to be handled on a case-by-case basis using holistic guidelines determined by the team and lead ambassador. Such raises are to be handled through the quarterly GAMB payment proposal.
* Changes to program payment rates may be proposed by any member of the community (GAMB, team, or otherwise). Payments for the quarter are set for the quarter.&#x20;
* In the event of an interim appointee, they will receive a pro-rated bonus at the end of their first full month equal to the portion of the month worked previously (for example, if an interim ambassador is appointed on the 15th of the month, they will receive 1.5x monthly payment at the end of the following month).&#x20;

### Code of Conduct&#x20;

The Lead/Operations Ambassador acts as the directly responsible individual for other ambassadors and is responsible for managing the program. This includes the following responsibilities/privileges:&#x20;

#### Probation/Removal:&#x20;

* The Lead Ambassador can place any of the ambassadors on “probation.” An ambassador placed on probation will see their next payment withheld after being placed on probation.&#x20;
* Probation indicates that the ambassador is failing to perform according to expectations. The Lead Ambassador may choose to alleviate the probation upon improvement or remove the ambassador on continued failure.&#x20;
* If alleviated from probation, the ambassador will receive their withheld payment at the next payment period. An ambassador with no previous discipline must be placed on probation before removal.&#x20;
* An ambassador that has previously been placed on probation may be removed at any time.&#x20;
* The Lead Ambassador may remove an ambassador on Probation for 7+ days.&#x20;
* Probation and Removal should only be used as a measure to address lack of engagement from the offending ambassador.&#x20;

#### Fulfilling or Extinguishing Vacant Roles:&#x20;

* In the event that a role is not filled after an election or a role becomes vacant prior to elections, the Lead Ambassador is responsible for appointing an interim replacement or extinguishing said role until they see fit.&#x20;
* The Lead Ambassador may use their judgment to choose the replacement, but they are encouraged to consult with other GAMBs.&#x20;

#### Creating New Roles:&#x20;

The Lead Ambassador, in cooperation with other GAMBs, may introduce new roles into the existing Ambassador framework.&#x20;

#### Reporting:&#x20;

* The removal of an ambassador, filling or extinguishing a vacant role, and creating a new role must be shared to the forums.&#x20;
* Probations should be discussed at the discretion of the Lead Ambassador.&#x20;

#### Communications:&#x20;

* The Lead Ambassador serves as the primary conduit between the core team and GAMBs.&#x20;
* The Lead Ambassador is encouraged to communicate strategies with the team to most effectively deploy GAMB resources for meaningful work towards the DAO.&#x20;

If an individual is interested in an available Ambassador position, please consider highlighting yourself as a potential nominee along with the skills or ideas you bring to this program in the Human Chat. As a decentralized autonomous organization, it is imperative that the community remain engaged and that transparency be paramount. This Ambassadors program is a significant stepping stone for Governor DAO, and we hope it will aid in successfully building out the overall vision of the community.


# Finance Committee

### Background&#x20;

Given recent conversation surrounding revenue flow and referrals, there seems to be significant work done to create a formalized-in-writing framework the DAO can use for managing month-to-month revenue inflow and referral payouts.

While exact numbers will take some time, the ballpark of what feels right seems to be widely understood. Rather than trying to find those perfect numbers, we seek to institute a lightweight finance committee to help carry out what feels right.&#x20;

### Responsibilities&#x20;

The finance committee has three main responsibilities:, outlined as follows.

#### Compile monthly treasury reporting

The finance committee will compile a monthly report on inflow (revenue generated, grants, etc.) and outflow (team payments, gas costs, expenses, etc.) and month-over-month changes to treasury balance, governance vault payouts, referrals, etc.

#### Create a monthly policy for the utilization of revenue

The Finance Committee to build a plan around the utilization of the previous month’s inflow and treasury reserves. Funds are broken down as follows:

1. Monthly payments and expenses&#x20;
2. Governance vault buybacks&#x20;
3. Referral payments&#x20;
4. Excess to (or deficit from) treasury

#### Authorize Governor DAO Referrers

Referrers are individuals eligible to earn a commission for bringing in revenue to Governor DAO. By default, all team members and GAMBs are eligible to earn a commission. The Finance Committee holds the responsibility to grant access to community members to play referrer.

This permission should include some cursory education on the service costs and some standard messaging/target audience. Referrers should maintain some base communication with the Finance Committee.

The Finance Committee is also expected to maintain correspondence with all eligible recipients of commissions to maintain a level of fairness and transparency in their operations.&#x20;

### Governance&#x20;

In addition to the three main responsibilities, the Finance Committee is also responsible for building out a better battle-tested framework that can replace some of the initial qualitative reporting done by the committee.

In other words, the Finance Committee should create the documentation that outlines, e.g., how revenue flow is handled, rather than determining what makes the most sense each month.&#x20;

### Membership&#x20;

The Finance Committee will be headed by the BizDev Ambassador.

At least one member of the core team (at the discretion of the team and Head of Finance Committee) is required.

One member of the community (not GAMB or core) is preferred but not required.&#x20;

### Expectations&#x20;

Each month, the Finance Committee is expected to report on the project’s financials, including month-over-month inflows/outflows and policy surrounding governance vault buybacks and total commissions.

The Committee is expected to engage with recipients of commission on a rolling basis, as well as confirm members of the community as eligible for commission as “Referrers.”

### Compensation&#x20;

As this is designed to be a lightweight committee by existing enrolled ambassadors/team members, no additional compensation is budgeted.

As the finance community better formalizes, this is subject to change.


# Articles


# GDAO Leveling the Voting Landscape

**GDAO Leveling the Voting Landscape with Their Proof of Existence Vision**

Navigating the crypto realm can feel overwhelming at times. There’s so much to learn and countless avenues of information that are all parts of this constantly developing technology. One unique aspect of the crypto space is how numerous projects aim to listen to the will of their investors. Community driven projects typically develop in a direction that is voted upon by the token holders of the project. Sort of similar to how a nation might attempt to represent the will of the people. However as we all know, between the time when the people cast their votes to the stroke of the politician’s pen there is often much lost in translation. Unlike a typical representative system, most structured community driven crypto projects have a voting apparatus in place that allows both the big time investors and everyday average crypto-joe token holders to make their suggestions for improvement or the project’s direction known to the development team.

In a community driven project, the importance of the community member is paramount. However, a caveat of the anonymity designed within blockchain technology is how a single person can create multiple different anonymous wallets. If each separate wallet owned by one individual held the token in question, then it would look as though there are multiple different token holders, aka voters, even though they’re all owned by the same person. Users taking on numerous wallets/personas to gain an unfair, potentially malicious advantage over other holders is known as a ‘sybil attack’.

A common default strategy utilized for voting is weight-based voting mechanics: ie, the more tokens you hold, the bigger your vote/weight/voice. However, unless the source of a vote can be isolated and verified to one individual with one wallet, democratic or egalitarian governance procedures will be vulnerable to sybil attacks. Furthermore, without a fair voting mechanism, large token holders could direct the project in any direction, abusing their power and dominating all proposals they feel is not in their personal best interest.

Governor DAO, in collaboration with Finnovant, has implemented a biometric Proof of Existence (PoE) token early in 2021 which solves the challenge in question. This solution provides the opportunity for anyone with a digital wallet currently on ETH mainnet to enroll in a biometric vetting process. Essentially, the voice and face is mapped to the connected wallet through the dApp (decentralized app) verifying the biometric hash isn’t already mapped to an existing wallet. If a person attempts to enroll a 2nd wallet their biometrics will be detected as enrolled therefore throwing an error. The process can justify that any given wallet is owned by a particular individual, meaning two or more wallets will now be unable to act as a single entity through the GDAO ecosystem. PoE (Proof of Existence) is a universal defense against Sybil Attacks. This massive benefit to any community driven crypto project is the ease in integration, only needing developers to add one line of code to their project which will verify the on-chain ERC20 PoE token ownership.

The use of PoE is more than just initial voter verification. PoE could be queried AFTER a vote has concluded to show the percentage of votes that are verified authentic. PoE subtypes could also be used to demarcate developer or team-member/influencer votes so that they are considered differently. In fact, a member of a community does not even need to be a holder of the token. In a situation where any member, regardless of investment, is participating in a vote, the number of votes submitted by each individual can still be verified.

Gone are the days where a huge token holder, or the development team, can swing their weight around to unfairly sway a proposal. Furthermore, by leveling the playing field Governor DAO aims to increase engagement across all community members within a project. Studies show that once someone knows each vote carries the same power, they will be more inclined to be involved with the development of a project. Since GDAO’s Proof of Existence technology continues to hold the user anonymous, yet marked as an individual - the outcome is a perfect solution for DAOs and projects looking to maximize voting to build out the future of their platform.

*If you are a project looking to integrate PoE into your voting strategy, contact us.*


# Project Voting Challenges & PoE Solutions

A few examples on how GDAO can change the landscape for project voting including challenges

**PoE Use Case - Snapshot & Voting**

**Executive Summary**

In today’s rapidly evolving crypto-space governance and community voting systems play an integral part in project direction and development. An organized and structured project will have an on-chain or off-chain voting apparatus to capture temperament from token holders on individual improvement proposals in order to reach quorum before continuing to build out the proposal. Multiple voting systems are available such as Snapshot, Scattershot and Commonwealth which all share a similar form, function and common goal - a conduit for pursuing improvement or project direction in the form of proposals and a central platform to administer a vote on raised proposals. Governance and DAO architecture is built around these voting mechanisms, and provide an integral role to the fairness, stability and growth of the project backed by an engaged community with an opportunity to debate each decision and proposal.

**Challenges**

While the importance for voting is key, the process has a number of challenges on a permissionless network. For example, anyone can create numerous wallet addresses and falsely “represent” the impression of many token holders representing unique voters.

A common default strategy utilized for voting is weight-based voting mechanics: ie, the more tokens you hold, the bigger your vote/weight/voice. In some situations the logic can be beneficial (like in Proof-of-Work consensus, where maximum hashrate is ideal). For community driven governance, the optics for voting requires a flat schema to ensure all voting members are allowed only one vote from one authorized wallet allowing for a fair and equal vote towards a proposal.

Unless the source of a vote can be isolated and verified to one individual with one wallet, democratic or egalitarian governance procedures are always vulnerable to sybil attacks - users taking on numerous wallets/personas to gain an unfair, potentially malicious advantage over other holders.

Without a fair voting mechanism, large token holders can create proposals which are not in the best direction of the project’s future. Due to their weighted voting power they could direct the project financially in any direction abusing their power and dominating all proposals they feel is not in their personal best interest.

**Our Solution for Fluid Voting**

Governor DAO, in collaboration with Finnovant, has implemented a biometric Proof of Existence (PoE) token early in 2021. This token solves the often discussed challenge in question - Sybil Resistance. To mitigate the problem, GDAO deployed a biometric solution through a Governor front end which provides biometric enrollment. This biometric enrollment is compiled into an irreversible hash - the individual voice and face associated to one wallet - which allows a logical proof that any given address is owned by a specific (yet still anonymous) person, erasing the ability for someone to have two or more wallets and act as a single entity.

PoE (Proof of Existence) is a universal defense against Sybil Attacks - a situation where a single entity uses more than one wallet to pass as multiple entities. In addition to its current utilization for provably fair minting during an NFT launch, PoE also enables truly democratic voting standards - giving one vote per holder (wallet), or one quasi-weighted vote per holder similar to the United States electoral system. The discussed voting logic allows for ALL holders in a given protocol to engage with the voting system in a fair and honest manner without clouding judgment via token holders throwing their token weight around. There are numerous ways to implement the Governor DAO Proof-of-Existence token (ERC20) into current as well as new governance portals and voting systems in a way that establishes fair voting and encourages voter equality. A summary of examples as highlighted below include common use-case scenarios based on challenges experienced in the governance blockspace currently - as well as the Governor DAO solution demonstrating utility and addressing these problems. *All solutions simply require* *including a single line of code or less to implement.*

1. “Pure” Democratic Voting Using Global PoE
   * **Use Case:** A vote for new proposed emissions on a pool is being run. Generally, the largest holders (whales) would make up 75%+ of the vote tally which could benefit these same large holders.
   * **Challenge**: Current governance votes weigh token holdings and incentivize large holders via vote weight, sometimes leaving smaller holders - albeit many individuals, unable to quantifiably make a difference. This leads to poor voter adherence and lack of participation. Multiple wallets owned by the same holder or an entity can sway the vote in their favor or collapse the vote for malicious reasons.
   * **Solution**: The PoE token can be added to a voting portal for any project by adding it’s logic as a primary, secondary, or combined logic. This means that the PoE token can be used by itself - giving users a single vote across the board, or in addition to the protocol token - allowing a mixed vote of unique individuals as well as their holdings, or in a mixed scenario where multiple votes are run in tandem and weighted.
   * **Outcome Differential:** Adding the global PoE token contract to current snapshot logic allows for smaller players to provide input and the ability to weight votes by more than just total holdings - all the while ensuring input is received from verifiably unique individuals. This can be done with a single line added to the logic pointing to the global PoE token contract using the Balance\_of variable. A dual-approach can also be accommodated where both the primary token and PoE are weighted. (Total Tokens Held x Multiplier \[ONLY for PoE Holders])

In addition, PoE allows smaller voters or even non-holders to participate, bringing up voting participation and allowing for true individual input from all who have a say regardless of benefit. This includes global PoE members who are NOT token holders but have input on the project as a sideliner or potential future holder. Proven individuals who are smaller holders can have an increased voting weight via the dual-token weighted approach leading to more voter adhesion and increased vote accuracy.

1. Creating a “Gated” Community Voting Atmosphere
   * **Use Case:** A yield farm is running a vote for an improvement of the ecosystem. Swing traders and short-term holders that have not completed the PoE process are exempt from voting regardless of holdings.
   * **Challenge**: On-Chain voting is a great alternative to snapshot - or gasless voting - because it makes the vote immutable and further decentralizes the process. Because on-chain voting is a public contract call, individuals who may have just jumped in to the project, or who are swing trading the token can vote on initiatives that they are not well informed on, or that do not inevitably affect them.
   * **Solution**: Logic can be added to on-chain voting to call upon PoE as a verifier before the vote contract can be interacted with via web3 or directly - leading to a “gated” community voting portal for unique individuals only. Creating access control to the actual on-chain vote via a single line of code allows for project votes on-chain to be verified as originating from unique, token holders that have been around for a pre-set time and completed the PoE sign-up process which greatly increases their likelihood of passion for the project and caring about the outcome of the vote. Currently, any cryptocurrency user could buy tokens prior to the vote (whether announced prior or by luck) and skew the vote without having the proper knowledge of implications. The vote itself could still use token balance OR the “One Voice, One Vote” system of single vote weight per holder - at the project’s discretion.
   * **Outcome Differential:** The vote itself can still be weighted by token holdings, or a Democratic voting process can be implemented using the PoE token as the voting token - giving one vote per verified individual.
2. Other various use-cases which are more project-specific, but just as portable and easy to integrate:
3. PoE could be queried AFTER a vote has concluded to show the percentage of votes that are verified authentic.
4. PoE subtypes could be used to demarcate developer or team-member/influencer votes so that they are considered differently.
5. Completely separate voting portals can be utilized. One for traditional voting for more generic proposals, and a second, PoE-enabled portal for more important proposals.

**Conclusion:**

After implementing these governance strategies enhanced by the PoE token, a project can expect proposals to have much more user input via votes placed as well as a much more dynamic ratio of input on both sides of the vote. Studies have shown that psychological manifestation of equality is important in allowing individuals to provide their true feelings via voting when an even basis is placed on vote weight coupled with anonymization. Since GDAO’s Proof of Existence technology continues to hold the user anonymous, yet marked as an individual - the outcome is a perfect solution for DAOs and projects looking to maximize voting to build out the future of their platform with the will of all those involved in mind.

*If you are a project looking to integrate PoE into your voting strategy, contact us.*

*Also the following details the steps to enroll for a Proof of Existence Token. The team is very close to finalizing a PoE dispenser which provide a fully automated solution for anyone to enroll and mint their own PoE token.*

[*https://docs.governordao.org/proof-of-existence-documentation/poe-vip-process-4-stages*](https://docs.governordao.org/proof-of-existence-documentation/poe-vip-process-4-stages)


# GDAO Links


# Where to Purchase GDAO

**Where to Purchase GDAO**

**1Inch**

<https://app.1inch.io/#/1/swap/ETH/GDAO>

**Uniswap V3 pool**

<https://app.uniswap.org/#/swap?outputCurrency=0x515d7e9d75e2b76db60f8a051cd890eba23286bc>

**Uniswap V2 pool**

<https://app.uniswap.org/#/swap?outputCurrency=0x515d7e9d75e2b76db60f8a051cd890eba23286bc&use=V2>

**Gate.io - Not available to US residents**

<https://www.gate.io/trade/GDAO_USDT>

<https://www.gate.io/trade/GDAO_ETH>


# Governor DAO Litepaper v2.1

Governor DAO Litepaper

![](/files/fjYuIq7nynrekx6UbRKw)

April 3rd, 2022

### Foreword <a href="#id-8mpbxne74v9n" id="id-8mpbxne74v9n"></a>

This document has been revised to reflect the state of Governor DAO today. The original Litepaper was written in December 2020, and much has evolved in and around the Governor DAO ecosystem. Original inspiration, thesis, and deployment mechanics may be found in the Appendix, where the original Litepaper resides in full.

### Governor DAO Summary <a href="#cejnbopcplg9" id="cejnbopcplg9"></a>

Decentralization done right is difficult. Working governance, fair launches, and equitable incentives are the marks of a well tuned, properly decentralized project. But those principles are hard to conceive on paper and even hard to achieve in practice. Governor DAO acts as a B2B organization in the web3 space: offering best practices, community engagement, and first-in-class technology to those looking to build a better decentralized future.

Every project that interacts with Governor through the offerings outlined below share their ownership with Governor and onboard their users into our ecosystem. Each project and their users are enrolled into the ever-growing “DAO of DAOs” Governor collective.

GDAO token holders earn revenue share from integrations and manage the treasury that holds ownership of these projects. Governor offerings are centered around the strength of the community, enabling a strong network effect where new users make the ecosystem and services provided increasingly powerful.

Ultimately, Governor DAO aspires to be the global standard that every decentralized project leverages to ensure more efficient, equitable, and trustless production.

### Governor DAO Offerings <a href="#pr9nb5swnaf" id="pr9nb5swnaf"></a>

### Proof-of-Existence <a href="#ccuno8d6pekq" id="ccuno8d6pekq"></a>

Proof-of-Existence is Governor DAO’s best-in-class defense against sybil attacks. Since the beginning of blockchain, the permissionless, anonymous nature of the space leads to mechanisms that are incredibly vulnerable to exploitation by users taking on numerous accounts/wallets/identities.

Sybil attacks require developers to build projects that are either KYC-only or designed on an unlimited weight basis (meaning the more $$ one has, the bigger influence they have). This leads to unfair or vulnerable mechanisms surrounding activities like:

* Token Launches/NFT Mints
* Governance Voting
* Airdrops
* Play-to-Earn
* Yield Farming
* And much more..

Proof-of-Existence is a “human gate” that enables the above to take place within per-person limits designed by the project. NFT launches and token sales can limit the number of mints or size of contributions per person. DAOs can practice democratic or logarithmically-weighted voting modules. Airdrops can be provably assigned equally to each person participating. Play-to-earn games can offer quests that are bot-proof on many accounts. Yield farms can introduce whale caps or taxes.

POE offers sybil resistance in a way that is…

* 100% Effective
* 100% Anonymous
* Universal (wherever EVM exists)
* 30-second sign up
* One line of code integration

### NFT Launchpad <a href="#wu3k01vhk562" id="wu3k01vhk562"></a>

Proof-of-Existence is immediately applicable to improving the global standard for NFT minting. Our NFT Launchpad is an incubated, powered by POE experience where clients can self-select the level of engagement/support from Governor DAO and execute a provably fair NFT mint.

NFT collections incubated through the Governor Launchpad award some percentage of initial sales to Governor DAO as well as some percentage of resales.

### Liquidity Generation Event <a href="#m5q3i9obell8" id="m5q3i9obell8"></a>

Governor DAO’s unique, fair launch as an unrug required immense creativity to operate in a way to maximize confidence of participants as well as value of their inputs. This culminated in the LGE model.

User contributions are leased, not exchanged, and paired with new tokens for liquidity. Over time, users can reclaim their initial contribution AND new token from the LP. Additional mechanics like decaying fees, reflections, and initial contribution taxes enable a better, working launch out-of-the-box for every participant.

### One Voice One Vote <a href="#un2vgtokuqq" id="un2vgtokuqq"></a>

Governance was never supposed to be whale-catered. One Voice One Vote reflects better token governance standards, unlocked by Proof-of-Existence. Those standards include:

* Democratic (one vote per person)
* Capped (weight-based voting with a minimum and maximum)
* Logarithmic (Diminishing weight gains from additional token holdings)

### Smart Contract Standards <a href="#dx7lq8sdm6ux" id="dx7lq8sdm6ux"></a>

Governor DAO’s unique launch required optimized mechanics for the project to succeed. We launched GDAO smarter, and we use those best practices for others to launch smarter, too.

Projects can engage Governor DAO for assistance and deployment of token, NFT, sale, loyalty rewards, and vault contracts that are custom-built, battle-tested, and proven better than market alternatives.

### DAO Consulting <a href="#hu3iqg1uvtsy" id="hu3iqg1uvtsy"></a>

Governor’s team and community have undergone a unique trial-by-fire that uniquely positions the project as a whole as experts in working DAO governance. Engage the team and community to ensure your DAO works right - the first time around.

### Governor DAO Offerings - Future <a href="#isxvyah7iji3" id="isxvyah7iji3"></a>

### POE Passport <a href="#id-5yiinf99uuz" id="id-5yiinf99uuz"></a>

As more and more projects leverage Proof-of-Existence for their various web3 needs, a central hub of content and management will be necessary to ensure that existing users are always aware of new opportunities.

The POE Passport will be a a comprehensive dashboard where users can view token sales, NFT mints, giveaways, governance votes, and more by projects protecting their mechanisms with POE. The dashboard intends to build out on-chain statistics and reputational scores based on ownership of a Proof of Existence token.

### Token Factory <a href="#id-5bbkzgfp622o" id="id-5bbkzgfp622o"></a>

A Permissionless, rug-proof, no-code templated token launch using our LGE model and better smart contract standards. Anyone can launch their own token in a 100% safe manner. Taxes from every token created and sold through the factory go back to Governor DAO.

### Metagovernance <a href="#id-8sspvg6bx6ew" id="id-8sspvg6bx6ew"></a>

Governor DAO is situated as a collective of highly engaged Governors with ownership in numerous projects that leverage GDAO. Our holders vote on these other projects as well as others that contract us for the express purpose of bootstrapping their governance with a mature, engaged, seasoned community.

### Governance-as-a-Service <a href="#v3yiki3w1iob" id="v3yiki3w1iob"></a>

Decentralization and DAO principles are very good when done right, but incredibly hard to achieve. Failure can lead to disastrous consequences.

All of the above reflect Governor DAO’s toolkit to offer Governance-as-a-Service. GaaS refers to Governor’s ability to act as the “DAO of DAOs”, incubating and supercharging other projects of all spurts under our ever-growing Governor DAO umbrella.

GaaS is conceived with network effects in mind: Every time a new project enrolls in GaaS, Governor’s scope grows. Our ecosystem of friendlies increases, and more individuals enter our project. The bigger the Governor DAO ecosystem is, the more powerful our offerings are. The more powerful our offerings, the more projects are interested in engaging with us. Ideally, it’s an irreversible flywheel that never stops once it kicks into gear.

### GDAO Mechanics <a href="#id-6coikxy46fgv" id="id-6coikxy46fgv"></a>

### GDAO Overview <a href="#qj7g238d9g73" id="qj7g238d9g73"></a>

GDAO is the governance and ownership token of Governor DAO. GDAO holders have control over the treasury (acted on via governance) as well as ownership of revenue share.

The total GDAO supply is 2,921,625. There is no mint function and no possibility to create more tokens. The entire supply is circulating.

### GDAO Vault Mechanics <a href="#hlyqetabosb8" id="hlyqetabosb8"></a>

GDAO holders can stake their GDAO to receive xGDAO. xGDAO is the revenue share wrapped for GDAO. Revenue generated is delivered on-chain to a BuyBack Agent smart contract. The BuyBack Agent buys back GDAO, adds liquidity, and sends coins to the treasury. It also employs a small “caller’s fee” for the individual who activates the BuyBack - as the execution is permissionless.

### Appendix - Original Litepaper (12/2020) <a href="#id-2ez3jpvlnbks" id="id-2ez3jpvlnbks"></a>

### Abstract <a href="#ucoylb8tvxeh" id="ucoylb8tvxeh"></a>

Decentralized Autonomous Organizations have the potential to represent massively diverse and profitable organizations. This potential is a legitimate disruptor to the traditional framework of businesses and legacy enterprises. However, existing DAOs across the spectrum, primarily due to errors in design and implementation, have predominantly failed to realize this massive potential. From inception, Governor DAO is designed to overcome these obstacles and, in doing so, behave as the quintessential governance model for other DAOs and institutions to emulate.

This cooperation is recognized as the basis to **Governance-as-a-Service**.

### Background <a href="#c4aqvenwd90z" id="c4aqvenwd90z"></a>

The open-source nature of smart contracts enable trustless interactions between two or more independent parties. These interactions are enforced by code and verified by miners in a manner that protects the trustless, peer-to-peer qualities of said interactions.

This technology is the lifeblood of our new age of information and has only just begun to disrupt the infrastructure of legacy enterprises across a multitude of industries; it is set on a trajectory to create disruptions unquantifiable by any perceivable metrics. Decentralized Finance (*DeFi*) is the most immediate example of the real-world impact of this tech. Automated Market Makers like Uniswap and Balancer allow anyone to create their own decentralized exchange pairing and trade any ERC20 token with minimal barrier to entry. Peer-to-peer lending protocols like Maker, Compound, and Aave are responsible for *billions* of dollars in trustless crypto loans, where depositors consistently earn significant yield at a rate far superior to anything possible under the traditional banking framework.

The 2017 bull run was dominated by (largely overvalued) ventures that sought to apply blockchain technology in new and exciting ways. For the most part, these ventures materialized as either vacuous endeavors or tedious solutions to non-existent problems, creating numerous redundancies within the space. But as much of the excess or “fluff” projects died out, the past year has marked a key shift towards powerful application of this blockchain technology, towards redundant or inefficient industries where smart contracts are immediately applicable for direct impact. Asset exchanges and lending, as mentioned above, are two striking examples. Areas like virtual assets and artwork, insurance, Venture Capital, and data exchange are additionally on the cusp of major transformations.

However, the immutable set-and-forget nature of the smart contract building blocks is at odds with the iterative business models they seek to disrupt. And while it’s possible that these contracts can be deployed as perfection on day-zero, reality suggests that these highly experimental projects require some framework for continued maintenance and improvement to be truly sustainable and successful in the long run.

### Understanding DAOs <a href="#s2hvpdmnydgs" id="s2hvpdmnydgs"></a>

In order to protect the decentralized, trustless nature of applications and protocols, projects that are intended to be upgradable require some hard coded governance framework. In other words, said projects must hardcode some mechanism of ownership to the participants in the project itself.

In many cases, this is most effectively done by situating the project as a Decentralized Autonomous Organization (DAO). At a high level, a DAO-type project is one that is *entirely* owned and operated by its participants via tokenized ownership. In order to contribute as an owner of the project, individuals must acquire the project’s token, which grants them access to voting. In a true DAO, all actions are carried out as the result of a majority approval vote. These votes can reflect modifications or upgrades to the project’s underlying smart contracts, mechanisms for revenue sharing, changes to the voting metrics itself, and so on.

When implemented as intended, the DAO framework has radical implications. By connecting ownership and activity as a single-interest participant body, business can be conducted at a level of efficiency not possible under the traditional framework. By automating certain aspects of the business via smart contracts, such as the management and underlying service, marginal costs for said operations reach *zero*. This cannot be replicated by traditional counterparts.

### Today’s DAO Shortcomings <a href="#q3nk64n953lj" id="q3nk64n953lj"></a>

Unfortunately, the aspirational superiorities of Decentralized Autonomous Organizations have largely failed to manifest to date. There are several recurring themes that DAOs or otherwise community governed protocols tend to experience:

* Apathetic participants
* Poorly designed governance
* Irreversible day-zero blunders

These themes largely play hand-in-hand, and they are seen almost universally throughout the DAO space and more broadly via decentralized governance. Token ownership guarantees participation, but many token holders never intend to participate. Governance rules and frameworks are often designed on the assumption that holders want to participate. As a result, some immediate assumptions baked into the original contract deployments because launch day errors embedded in the protocol can’t be reversed.

Maker DAO’s recent flash loan voting attacks highlight the problem of apathetic participants, where only a handful of MKR holders cast votes, making outcomes susceptible to swaying in favor of a single larger token holder. Uniswap’s inability to lower quorum (due to quorum not being met) is reflective of poorly designed governance. Yearn’s capped 30,000 YFI supply, despite widespread support to extend emissions, is a prime example of an irreversible day-zero ![footer graphic](/files/ZisWEEfg0tYMY41CdfdR)blunder.

When a DAO is deployed in a proper manner, that does not make it susceptible to the above shortcomings, its superiority against traditional competitors will be irrefutable. Though as of today, that “perfect” DAO has yet to surface.

### Governor DAO <a href="#rnkwxrya68z2" id="rnkwxrya68z2"></a>

### Overview <a href="#k1c1tyu5q0tg" id="k1c1tyu5q0tg"></a>

Governor DAO is designed from inception with **three primary objectives** in mind to:

1. ***Incentivize and maximize engagement*** of all active participants within the Governor ecosystem and attributed projects, partnerships, and networks.
2. Provide ***Governance-as-a-Service*** and every exhaustible extenuating applicable variant to positively benefit and benevolently service the seamless integration of **GaaS** into the universally underperforming, exponentially developing DAO space; and
3. Strategically pursue and decisively execute consequential ***revenue generation*** throughout every critical stage of project development and reward all attributing benefactors proportionately to contribution.

It is understood that our success in incentivizing engagement ensures our validity and authority to serve GaaS, and an effectiveness in both objectives will naturally lend the desired outcome of revenue generation. Other projects in the space tend to find themselves falling into one of two enigmas: building out governance simply for the sake of building out governance, and sequentially backtracking to implement and deploy governance *after* the creation of the ![footer graphic](/files/z6ENScHOAgaVhvMnfsGy)underlying product or service. Our intention to build out Governor *correctly* from inception is a self-fulfilling prophecy. When these perspectives are considered and we are positioned to *do it right* out of the gate, our DAO then becomes one that builds a culture of engagement and participation on day one. This in turn enables more effective governance which can be ported as a template to other DAOs.

### Incentivized Participation <a href="#ygzw1ufg8xng" id="ygzw1ufg8xng"></a>

Perhaps the greatest dilemma DAOs face – almost unilaterally – is a higher barrier to entry for participation. In many cases, the capital required or technical knowhow prices out most of the community. In some organizations, huge capital *and* keen technical knowledge are the minimum ticket of entry.

Governor’s approach to community governance emphasizes *incentivized participation* that is accessible to all *– ensuring ease of access for all participants.*

Of course, there will ultimately be different levels of participation in Governor: the developer team building out various components of the project, passionate community members drafting proposals and participating in competitions, auxiliary support, in way of marketing, business development, and so on.

Additionally, casual community members are equally emphasized through an engagement program for incentivized microtasks. Long-term this will come as an individual **Governor App** or dApp for your devices to collect micro-data and provide you with direct *Ease of Access* to all **Governor** interfaces, products, and services. Immediately, this looks like a buildout on **Wix**, a lightweight social application, where we can allocate assignments, micro-tasks and quests. Participation in these tasks yields points, which contributes to a level/tier system. Ultimately, these points earned, and levels achieved translate to prizes: **GDAO** tokens, NFTs, platform privileges, and so on.

Wix is a powerful tool for building out an engaged community with tasks as simple as tweeting about the project, inviting friends, participating in the forums, and so on. Beyond that, assignments and quests can be leveraged for data collection: short surveys reflecting market sentiment, background in crypto, trading tendencies, and so on. All data collection is opt-in and 100% voluntary. The data collected from community members will be compiled into data packages/reports that can be sold via **Ocean’s Data Marketplace** (and can be additionally leveraged in other capacities).

Ocean has not yet built out a robust library of data sets, which puts Governor DAO in a uniquely desirable position to play an authoritative role in the marketplace. Similar data packages to our project’s capabilities are currently priced on Ocean in the range of *thousands of dollars* per purchase. Ultimately, this is the power of leveraging the contributions of the **entire** community: through data collection or otherwise, achieving significant revenue generation through the help of everyone involved which would open up the potential roles of authoritative data aggregators and trusted Data pools. Whereas the integrity of mass data hosts, as of now, is predominately contentious at best. Leveraging an incentivized ecosystem enables long-term growth and maturity for a project, meanwhile providing an avenue through which members may engage in collaborative and meaningful ways -- benefitting the entire community.

### Governance-as-a-Service (*GaaS*) <a href="#tctyuoyihfhh" id="tctyuoyihfhh"></a>

The aforementioned inherent complications within the infrastructure of DAOs positions Governor DAO as a pioneer in the unfilled niche of **Governance-as-a-Service** (**GaaS**).

At the highest level, **GaaS** refers to the process of leveraging our own merits and technology to bootstrap third party projects. Immediately, this materializes in the form of **consulting ‐** working with new projects to port some of our techniques *(airdrops, LGE, taxed farms, etc.*) so they can position themselves for success at launch.

Additionally, this can evolve and take on the form of an even more comprehensive **Unrug-as-a-Service** package: working with communities that underwent similar exit scams as our own and helping them to pick up the pieces following the same or similar steps in which **Governor DAO** has taken. Ultimately, **Governance-as-a-Service** is a full-fledged governance bootstrap program: utilizing our own highly engaged community to guarantee fair and active participation into governance of third-party DAOs on launch day. This takes the form of an allocation to the Governor treasury and/or an airdrop to GDAO holders (perhaps filtered by addresses recognized as “active voters). Initially, the buildout of Governor DAO will prove the enthusiasm of our immediate community that may be desired by other projects. Beyond that, governance tokens accumulated to the treasury by the GDAO farm taxes (YFI, UNI, SNX, and AAVE) serve as a proof-of-concept for the ability to govern other projects. These tokens were chosen as a test group to utilize for voting and proposal creation directly from the Governor treasury, as dictated by GDAO holders. Upon the successful utilization of these tokens as active participants in governance of their respective platforms, Governor DAO shall provide the same service for other platforms as part of the Governance-as-a-Service package.

In addition to the problems facing virtually all DAOs today, there is precedent to suggest a market to remedy those issues. For example, DeFi Money Market (DMM) DAO allocated 3.75M DMG, to DXdao for help with the DMG crowdsale and governance model. This sum of tokens is valued anywhere from $1M USD at the time of writing and $5M at historical all-time high. The payment was made on July 2nd to the DXdao treasury, but as of time of writing, roughly five months later, DXdao has failed to build out infrastructure for their voters to interact with the DMG tokens that sit stagnant. This highlights that a major market for GaaS exists, despite a lack of service providers.

### Internal Governance <a href="#trrdd9x341z3" id="trrdd9x341z3"></a>

Of course, Governor DAO is not immune to the problems outlined that other DAOs have faced. The governance of Governor will be an iterative deployment, from the initial launch as fully centralized to a near future of totally decentralized, 100% DAO ownership.

Ultimately, the GDAO token holders will have complete ownership of treasury and full control of voting. All capital raised and revenue generated by Governor DAO is allocated in full to the treasury. This directly aligns the incentives of GDAO holders with the overarching emphasis of the project to operate as a revenue-generating organization.

However, total control is unrealistic in the initial stages of the project, where much of the supply remains out of circulation. An additional document wholly focused on governance will outline the steps required to go from “*now to DAO*”, alongside different risks and understandings to make that process as effective and seamless as humanly possible.

### &#x20;<a href="#ftlfu4vk87db" id="ftlfu4vk87db"></a>

### GDAO Token <a href="#udswtlswx9vb" id="udswtlswx9vb"></a>

### Overview and Token Distribution <a href="#ymje8bsbeu9l" id="ymje8bsbeu9l"></a>

The GDAO token grants voting rights in the DAO and ownership of the treasury. There are no limitations to how GDAO holders allocate treasury funds beyond the required consensus. Voting privileges extend through all matters of internal governance. Additionally, GDAO token holders may leverage their tokens as proxy voters on governance issues across any of the third-party governance tokens held by the Governor treasury, including AAVE, SNX, UNI, and YFI. GDAO is a **fixed supply, burnable ERC20 token**. The total supply of **3,000,000 GDAO** was minted at contract deployment, and there is *no mechanism to mint additional tokens*. There is an internal *burn function* which may be called to permanently destroy tokens, making GDAO *deflationary*.

![](/files/5O6EhQNKjoTaygiIHmki)

### Liquidity Generation Event (LGE) <a href="#i2htzesgzuz1" id="i2htzesgzuz1"></a>

300 ETH was raised and posted as liquidity alongside 150,000 GDAO tokens (500 GDAO:1 ETH). Participants received a synthetic LP (sLP) token that reflects 1:1 ownership of genuine Uniswap GDAO-ETH LP tokens. When the farms go live, sLP holders will be able to send their sLP to a swap contract to receive the real LP tokens 1:1.

The LGE was enacted in such a way as to reward participants (*didn’t swap ETH for GDAO*) and lock sufficient initial liquidity until liquidity providers are further incentivized by the farms. The event commenced on **November 16th, 2020** and filled out in roughly thirty minutes.

### Airdrop <a href="#k6cm405cpni" id="k6cm405cpni"></a>

A token snapshot of BREE and SBREE was taken when the developer exit-scammed the project at block *11016190*. All stakeholders in the CBDAO ecosystem were accounted for and are entitled to an airdrop claim of GDAO tokens with the following associated rates:

* BREE Holder: 1x
* BREE Staker: 1.2x
* BREE Liquidity Provider: 2x
* BREE LP Staker: 2.2x
* SBREE Holder: 0.8x

The total airdrop allocation of **1,233,156 GDAO** is vested, with a penalty imposed to those who claim before the vesting is complete and a bonus to those who wait the full duration of the vesting period. The process is as follows:

1. All airdrop recipients are entitled to **claim** **only once** - zero exceptions.
2. Airdrop vesting period **begins in early December, 2020**.
3. **Day One**: 10% of each recipient’s GDAO airdrop is claimable.
4. **For 90 Days**: an additional 1% is claimable each day, until the full 100% is realized.
5. **Claiming early&#x20;*****forfeits*** the unclaimed portion of their airdrop.
6. **Unclaimed tokens** are treated as follows:
   1. 50% is burned
   2. 50% is sent to a rewards pool
7. **After 90 days**, the rewards pool from early claimers is distributed to airdrop claimants in addition to 100% of their token allocation.
8. The **distribution of the rewards pool** is proportionate to each user’s stake.

This airdrop model was designed to *incentivize long term supporters*, *protect interests* of those looking to claim their airdrop early, and institute a *deflationary mechanism* to the GDAO supply.

### &#x20;<a href="#uzns5f9f38ww" id="uzns5f9f38ww"></a>

### Airdrop Example <a href="#s1ub63db9wjh" id="s1ub63db9wjh"></a>

**Users A, B, C** each have a **1,000 GDAO** airdrop claim.

**User D** has a **2,000 GDAO** airdrop claim.

* **User A claims on Day 1**. They *receive* **100 GDAO** (*10%*) and *forfeit* the other **900 GDAO**.
  * 450 --> burned | 450 --> rewards pool
* **User B claims on Day 40**. They *receive* **500 GDAO** (*50%*) and *forfeit* the other **500 GDAO**.
  * 250 --> burned | 250 --> rewards pool
* **User C and D wait the full 90 days to claim**. Of the 5,000 GDAO airdrop total, 700 GDAO was burned and 700 was sent to the rewards pool. Not counting the rewards pool, a total of 3,000 GDAO are available for the recipients, representing 100% of their original claim.
* **User C claims their airdrop** and receives all **1,000 GDAO** plus **233 GDAO** from the rewards pool | (rewards pool) x (share of original airdrop) = (700) x (1,000 ÷ 3,000) ≈ 233.
* **User D claims their airdrop** and receives all **2,000 GDAO** plus **467 GDAO** from the rewards pool | (rewards pool) x (share of original airdrop) = (700) x (2,000 ÷ 3,000) ≈ 467.
* The **final distribution** is then as follows:
  * **4,300 | GDAO Distributed:** 100, 500, 1,233 and 2,467 GDAO, respectively.
  * **700 | Burned:** tokens permanently destroyed.

### &#x20;<a href="#kmabh242bkir" id="kmabh242bkir"></a>

### GDAO Farms <a href="#s285mke6duph" id="s285mke6duph"></a>

A total of **1,200,000 GDAO tokens** are allocated to 9 slow, constant drip pools with a 4x boost on those farming the **GDAO-ETH LP** token in addition to the following single asset staking options: ETH, WBTC, USDC, LINK, YFI, UNI, SNX, and AAVE. All farms carry a **2% fee on deposit** which is delivered directly to the Governor DAO treasury. The farms are designed to bootstrap capital to the treasury in a manner that doesn’t require an outright token sale. This approach alleviates legal uncertainty and also allows the free market to determine the fair value of GDAO tokens allocated to the farms. **Starting December 22nd**, tokens will be rewarded at a rate of roughly 1 GDAO per block, which amounts to just over 6,500 GDAO daily until all 1,200,000 GDAO tokens are rewarded - roughly 180 days after inception.

### DAO Reserves <a href="#q2ob9q8mhrs" id="q2ob9q8mhrs"></a>

The remaining **416,844 GDAO** is allocated to the treasury as *DAO reserves* to be deployed by GDAO holders. These tokens may be used however the GDAO holders intend: to pay workers, as awards for community competitions, or to incentivize participation for microtasks.


# PoE Enrollment User Guide

Quick Start Guide

**Governor DAO Proof of Existence Portal**

**Quick Start Guide**

Version 1.2 Date: 05 April 2022

## This Guide will assist with:

1. Enrollment (PoE token assignment)
2. Claim your free NFT on Mainnet
3. Join our “Humans Only” Telegram Group on Mainnet

### PoE Portal URLs

1. **PoE Enrollment Portal on Mainnet** [**https://onlyoneme.governordao.org**](https://OnlyOneMe.governordao.org)
2. **Mint a PoE token on Mainnet** [**https://passport.governordao.org**](https://HumanChat.governordao.org)

### Governor DAO Contract Addresses

**Ethereum Mainnet**

* GDAO Token Contract: 0x515d7e9d75e2b76db60f8a051cd890eba23286bc
* PoE Token Contract: 0x5945bAF9272e0808165aDea61b932eC1604FB161

## Instructions to Enroll

The following guide details instructions on how to participate in the Governor DAO enrollment process hosted on the Ethereum '**Mainnet**' network via a PC or mobile.

**IMPORTANT NOTE:**

The enrollment works on both PC and Mobile but there are known issues with MetaMask Mobile detailed in the troubleshooting guide.

### Connect Wallet and Network

Connect ‘**Metamask**’ or ‘**WalletConnect**’

A warning will display if your wallet is connected to the wrong network.

* The 'Human Chat' Telegram chat has been migrated to Mainnet with a link appearing on the website once a PoE token has been minted on Mainnet

If this is your first time, the “***Status of VIP enrollment:***” will be ‘**Unenrolled**’ or ‘***Unknown***’ (if the wallet isn’t connected).

### Start Enrollment

Once you’ve successfully connected your wallet you can now start the Enrollment process.

If you want to make sure your camera is lined up with your face, click **“Start Preview.”** The red dot will flash and you can position yourself so that your face lines up within the oval.

**Important NOTE:**

* If you appear frozen, i.e. your camera is not tracking your movement, there could be an issue with your webcam. Also, a common issue when using mobile phones (see note at the beginning of the section).
* Check to ensure that lighting conditions are suitable. If there are shadows or the room has mixed light, the capture may fail.
* Check to ensure that the audio is clear.

Once you are ready, click ‘***Start Enrollment***’ to start the enrollment process.

***NOTE – you will need to say the following phrase a total of 3 times, stating the phrase once per instance – "The best things in life will always be free"***

Be sure to look at the camera and then you will have about 5 seconds to say the phrase each time.

After about 5 seconds the recording will stop and prompt you to ‘***continue enrollment***’ for a further 2 times.

While recording, a flashing red blinker will appear in the top right corner of the template.

!\[A picture containing text, electronics

Description automatically generated]\(/files/-Mi9No6Xz1\_wvH61HEub)

After the 3rd recording, a message will be displayed up to 60 seconds later with one of the two messages.

\-    ‘***Congratulations! You have successfully authenticated***’

\-    "***Unfortunately, your enrollment did not process completely.  Please try again:***"

On success, the following heading will be updated ‘**Status of VIP enrollment**: *Enrolled*’

## PoE Token Assignment

**NOTE: Once Say-Tec registration is complete, a PoE token can be minted from the following** [**page**](https://passport.governordao.org)**, which will cost a small gas fee to complete the transaction. An automated process runs every 4 hours which collects new enrolments and authorizes the new wallet to mint a PoE token.**

Once the PoE token has been minted, access to the 'Humans only' Telegram group can be accessed from a link that is displayed on detection of the PoE token on <https://OnlyOneMe.governordao.org>.

## Verifying Enrollment Later

Once your enrollment has been successful, you can return at any time to the PoE Enrollment Portal to verify that your enrollment is functioning.

When an enrolled user returns to the PoE Enrollment Portal, a green ‘***Start Validation***’ button will appear instead of an option to ‘***Start Enrollment.***’

To validate your registration only capture will be requested as well as video under the normal expected conditions.

* ‘***Start Validation***’ – States a wallet has been detected with biometrics registered.
* ‘***Start Enrollment***’ – States a wallet connected but no biometrics registered, pending an enrollment.

![](/files/-Mi9No6YeMoNizC7HxM_) ![](/files/-Mi9No6ZTSdzvenj8r6F)

## Claiming your Free NFT on Mainnet

Prerequisites to claim your free NFT:

* Successfully enroll and claim your PoE token
* Purchase or hold 50+ GDAO or xGDAO on Mainnet
* Claim your free NFT from the following website [URL](https://nft.governordao.org)

Confirm you’ve **successfully enrolled** and **a PoE token has been assigned** (completed the steps previously to enroll).<br>

<https://nft.governordao.org>

![](/files/uq98sn9EkE4xZ1cncYoQ) 50+ GDAO will be required to claim.

### **Join Human Telegram Group on Mainnet**

Once you have enrolled and minted your PoE token, you can join our GDAO “***Humans Only***” Telegram Group on Mainnet.

Note: You must use the link provided by the PoE Enrollment Portal webpage only! Other links will not work!

**The link to join the "Humans Only" Telegram group will only appear when you have received a PoE token. The link will appear at the bottom of the authentication** [<mark style="color:blue;">**page**</mark>](https://OnlyOneMe.governordao.org)**.**

Scroll down until you see the option “Join the PoE Telegram Group”

![](/files/-Mi9No6k29TNLSvod7mO)

&#x20;Click ‘***Join the PoE Telegram Group***’

&#x20;When pasting the link into a browser, check the option to open in Telegram.

![](/files/-Mi9No6l3dL2vEv9CxO1)

Interact with **Collab.Land** bot in Direct Message (for best results, use Telegram Desktop)

Click on ‘***Connect***’ and navigate to a browser that has Metamask unlocked and connected on Mainnet

![](/files/-Mi9No6m0zwGVDRvdJGX)![](/files/-Mi9No6nZRw0VPCRJUFn)

Follow the steps provided to link your Metamask wallet to **Collab.Land**

![](/files/-Mi9No6oqAVi3BN8p2JX)*Connect Metamask*

You **MUST** connect with the same wallet you supplied for enrollment. Confirm wallet and ‘***Connect***’ and ‘***Sign***’

![](/files/-Mi9No6pryCGniczmZof)![](/files/-Mi9No6qypnF0u4bT5MK)\
*Pop-up messages before being sent to telegram*

After connection, if the wallet holds a POE token, you will be invited to ‘Join Group’ after being presented with the following message

![](/files/-Mi9No6ruOzI9sqd83o3)

Click ‘***Join Group***’

If sign-up fails (wrong address, no POE ownership, etc.) then restart the process by clicking on the “***Connect***” command in the Bot messages. Further attempts to join the group (via the “**join group**” command) will auto-deny access.

![](/files/-Mi9No6sq4OSpYxFAdJS)

*Warning if no PoE token is detected*

Unless for reasons stated as follows, the user has lifetime access to the group. Revocation of the token or discretion of admins can result in removal of the user from the group.

## Troubleshooting Guide

The following issues may be encountered during PoE enrollment.

1\.   Ensure there is suitable lighting when recording.

2\.   Ensure the browser has audio and camera record permissions which will pop up when clicking the ‘***Start Enrollment***’ button.

3\.   Successful recording will need to be a combination of both voice and video recording

4\.   Only one ‘***VIP***’ enrollment and one wallet can be registered, if a person attempts to register a 2nd wallet, they will experience an enrollment failure. The Say-Tec technology will detect that person's previous enrollment.

5\.   If any of the 3 recordings required to complete the enrollment differ too much (for example, poor audio quality on one of the recordings), the enrollment will fail. The aim is to record 3 recordings staring into the camera and recording the same catchphrase consistently.

6\.   If you experience issues while following the above conditions during enrollment, we recommend reaching out to an admin or GDAO Ambassador. As Governor DAO is a consumer of the ‘Say-Tec’ technology, the team can assist with confirming the details have been followed above, but outside that, the Finnovant support team will need to be engaged. In this case, the following information is required:

\-    ETH wallet address used during registration

\-    Which browser and version you are using

\-     What wallet you are using. e.g. Metamask / WalletConnect

\-    Date / Time of enrollment attempt including time zone

### Requesting support

If any issues are experienced with enrollment or website issues, there are several options to source assistance

* **Telegram Community Chat:** request an admin in the following GovernorDao Chat <https://t.me/GovernorProject>
* **Governor DAO Discord:** <https://discord.gg/MVh5NkN7gt>
* **Log a support request through the** [**WordPress form**](https://blog.governordao.org/help-desk-form/)
* **Governor DAO Blog WordPress Live Chat:** <https://blog.governordao.org/>
  * Click on the message bubble at the bottom right corner of the screen
  * When the green icon is lit a live agent is available, a grey icon means the agent is offline
  * If the chat is offline, enter your name and email address and a description of the issue experienced and one of the team will contact you

![](/files/-Mi9No6thG9o1zF1qtek) *Live chat available* ![](/files/-Mi9No6uOA4oKPB7xDPr) *Chat offline*

### Known Issues

#### Issue 1: Nested Camera disabled In MetaMask Mobile

Reported issue with MetaMask mobile due to issues on nested camera access at the OS level Say-Tec software can’t be used in combination with the Governor DAO PoE enrollment process.

#### Issue 2: NFT can’t be claimed on MetaMask Mobile

Once enrolled, the Say-Tec enrollment can be accessed via Metamask Mobile, but there is an issue with the ‘claim NFT’ button. Please use the same device to claim the NFT that you used to enroll.

#### **Issue 3: Registering on Android with MetaMask via ‘WalletConnect’ integration**

As the website has ‘Walletonnect’ integration using browsers like Brave and MetaMask is workable and supported.

* First, open MetaMask and connect to ‘Mainnet’ network before opening the browser.
* Open Brave and navigate to the URL, connect wallet and click on **‘start enrollment’**
* A pop-up will appear to approve the use of your camera and mic
* A silhouette will appear with a red flashing blinker, then the camera will become active, if the camera doesn’t activate Metamask may not be open.

**Issue 4: Unable to join Telegram ‘Human Chat’**

If the following message is displayed return to the [PoE Enrollment Portal](https://onlyoneme.governordao.org/) to ensure successful enrollment and the [Passport Portal](https://passport.governordao.org/) to mint your PoE token.

![](/files/-Mi9No6vb7aN1hrR7S5t)

## Screenshots **D**etailing Different States of Registration.

The following details the variations in connectivity and displays

### State 1: Wallet Not Connected,

\-    GDAO balance: null

\-    VIP enrollment: Unknown

\-    No PoE token detected

![](/files/-Mi9No6wI2gPy6vBoeNA)

### State 2: Wallet Connected

\-    GDAO Balance displayed

\-    Say-Tec Status: Enrolled

\-    No PoE token detected

![](/files/-Mi9No6xN8gOvNrXrq70)

### State 3: Say-Tec Enrolled / PoE token

\-    GDAO Balance displayed

\-    VIP Status: Enrolled

\-    PoE token detected

\-    Authorized for PoE Telegram Group

\-    NFT Claim available

![](/files/-Mi9No6yv-WJUaJWEsgi)

### State 4: Say-Tec Enrolled / PoE token / No GDAO

\-    GDAO Balance displayed as: 0

\-    VIP Status: Enrolled

\-    PoE token detected

\-    Authorized for PoE Telegram Group

\-    NFT Claim available (Not displayed unless 50 + GDAO)

![](/files/-Mi9No6zCrCSMzrz9aFi)


# Governance Vault User Guide

https\://vault.governordao.org/

### **Executive Summary**

The following outlines the Governance Vault, as well as an overview of the contracts comprising the initial vault rollout and how the community can test and prepare these contracts for mainnet usag&#x65;**.**

Vault site: [https://vault.governordao.org/](http://vault.governordao.org/)

### **Contract Addresses (Mainnet)**

| Contract                        | Address                                                                                                               |
| ------------------------------- | --------------------------------------------------------------------------------------------------------------------- |
| GDAO Token                      | [0x515d7e9d75e2b76db60f8a051cd890eba23286bc](https://etherscan.io/address/0x515d7e9d75e2b76db60f8a051cd890eba23286bc) |
| xGDAO Governance Vault          | [0x306978da6ebee060375f35418744f85c1cb6b353](#executive-summary)                                                      |
| Buyback Agent                   | [0x7f651fa68337208ed54e92dde8a52c5d8b629a5c](#executive-summary)                                                      |
| POE                             | [0x5945baf9272e0808165adea61b932ec1604fb161](#okay-so-what-does-this-mean-for-me)                                     |
| POE Purchase "Payment Splitter" | TBD                                                                                                                   |
| FinnoSplitter (Auxiliary)       | TBD                                                                                                                   |
| Uniswap GDAO-ETH V2             | [0x4d184bf6f805ee839517164d301f0c4e5d25c374](https://etherscan.io/address/0x4d184bf6f805ee839517164d301f0c4e5d25c374) |

### **Governance Vault Importance/Intentions**

Creating a working DAO is a challenging endeavor with numerous interactive parts. The nature of any business suggests that certain individuals must play privileged roles. This reality is sometimes at odds with the intentions behind the DAO ethos.

There are several strategies we can employ to maintain privileged/permissioned roles in a DAO model. Token holders can elect/appoint privileged roles. We can create checks and balances to keep privileged counter-parties honest. And as much as possible, we can automate operations and management in code.

The Governance Vault is a powerful, scaling, future-proof mechanism to bake Governor DAO accounting and finances into code. Modular smart contracts work together to handle incoming revenue and distribute per the rules set by token holders.

**There are 3 Components to this Design:**&#x20;

1\.   On-chain product(s). On-chain products drive ETH and ERC-20 tokens to the Buyback Agent.&#x20;

2\.   Buyback Agent - The Buyback Agent splits the incoming revenue stream in several different directions (earnings to the treasury, dividends to holders, DEX liquidity adds)

3\.   The xGDAO Vault - The xGDAO Vault manages the Buyback Agent and on-chain products and additionally organizes dividend distribution to token holders.\
\
On-chain products (Payment Splitter) are public-facing and designed to automatically route incoming payments to the intended destination. For the Proof-of-Existence purchase contract, payments automatically handle referral commissions and payment price dynamically upgrades along a bonding curve per the number of sign-ups (more signups ⇒ higher price). These contracts are upgrading: variables like the % commission, Governor NFT multipliers, destination addresses for ETH, etc. can be upgraded (first by the team, and ultimately by xGDAO holders autonomously).

Buyback Agent reflects an “on-chain monetary policy” that receives all incoming revenue and deploys that revenue per the discretion of xGDAO holders. This includes a variable % split to liquidity add, dividends to xGDAO depositors, and coin to the treasury. The buyback agent is callable by anyone and features preset parameters for how big of buybacks should take place and at what frequency of time (initially, up to 0.5 ETH every 72 hours). The user who calls the function also receives a portion (currently 0.0003 ETH) of the proceeds as a gas reimbursement and a small payment for their efforts.

xGDAO Vault is the key component that gives GDAO holders immutable keys to the kingdom. Any holder can deposit to xGDAO, and in doing so, they will passively receive GDAO drip to their deposits from the Buyback Agent relative to their weight in the vault. Holding xGDAO also gives governance control over the smart contracts and DAO treasury (and ultimately, will replace the “admin keys” altogether). Users deposit GDAO to get a tokenized share in the vault, xGDAO, and that xGDAO can be redeemed for an increasing amount of GDAO per the consistent buybacks that add more GDAO to the vault for depositors.

![Vault funnel strategy](/files/GiLjta2dIMeBKyGA1pIn)

The biggest distinction is that there is no “team” or “admin” that operates these functions. Token holders are the owners: this is fully autonomous revenue management.

The Governance Vault has been deployed alongside the Proof-of-Existence whitelist, which will take a sign-up fee priced in ETH in the future. ETH from POE signups goes to the Buyback Agent, which in turn delivers ETH to the specified destinations (a) liquidity add, (b) GDAO buyback and delivery to xGDAO participants, and (c) treasury draw. Other revenue including LGE (Liquid Generation Events) or NFT sales from the NFT [Launchpad](https://nft.governordao.org/) will be sent to the buyback contract.

For the GDAO holder, the interactions go like this:

1. GDAO holder deposits token in GDAO, receives a corresponding share of xGDAO (Input your GDAO, Receive xGDAO)
2. ETH from on-chain revenue buys GDAO. This GDAO is awarded to all xGDAO holders by increasing the GDAO value of every xGDAO.
   1. xGDAO is representative of GDAO in the Governance vault. Every time there is a buyback, the GDAO value of xGDAO increases.
   2. As such, participants holding xGDAO passively earn more GDAO over time.
3. xGDAO also Governs the associated contracts. xGDAO holders can vote to adjust the monetary policy by changing what % of revenue is sent to each destination through the Buyback Agent (in other words, xGDAO holders autonomously determine what % of revenue goes to liquidity, GDAO buybacks for xGDAO/ETH to the treasury, or GDAO buyback to treasury)

It’s important to recognize that xGDAO yield comes from open market buybacks driven by on-chain revenue. Without healthy enrollments and adoption of POE, buybacks/dividends will remain minimal.&#x20;

In order for the Governance Vault and initial product rollouts to reach mass adoption, the GDAO community needs to engage with these contracts, test the products, refer their friends, and help spread adoption organically. In true DAO fashion, Governor DAO succeeds with everyone’s involvement!

### **Okay, so what does this mean for me?**

The Governance Vault is designed to be a massively scaling, future-proof engine that permanently positions GDAO and GDAO holders at the center of everything in the Governor ecosystem.

The Governance Vault us to easily append every Governor product and buildout to the existing framework, with each instance generating revenue that buys back GDAO and delivers it to xGDAO holders through the Governance Vault.

GDAO's suite of products have the potential for massive network effects, becoming more profitable as their adoption grows.

Because of this “get the ball rolling” setup, the engagement of the core GDAO holders is the most important part in getting this entire behemoth situated for success. Governor was designed around the ethos that DAOs should encourage the engagement of every token holder, and the DAO should be situated in such a way where that engagement drives value to the DAO and awards incentives for that engagement. This is our way to guarantee growth within the Governor community. We have seen success with this model with the introduction of our GDAO Ambassadors Program.

### **Governance Vault User Guide**

Head over to <https://vault.governordao.org/> and connect your wallet to Mainnet. You will be interacting with each of the two contracts: xGDAO and Buyback Agent initially.

![](https://lh6.googleusercontent.com/wz_cOuVgYOU1gVvSrSzWTFq75WlpesMIqgLUl493b-r5NwULAPjTWgAhpfMs4IhTTgbqTkUfUYIzr35q4hMdZFSUPYGHL8OMWDjU7D27Y9KyNlX5oEZmVMbhILy1dJxbKQx3RBWT=s0)

**Basic Vault Functionality**

* Deposit GDAO to vault
* Withdraw GDAO from the xGDAO contract.&#x20;

xGDAO is a tokenized share of all GDAO in the governance vault.

When depositing GDAO, you receive a corresponding amount of xGDAO depending on the current xGDAO:GDAO ratio. Initially, 1 GDAO = 1 xGDAO. Every time a buyback takes place, the GDAO value of xGDAO increases.

**NOTE:** There are two fees on xGDAO, a 10% decaying fee on early withdrawal and a 3% entry tax on non-authenticated users (those who don’t hold POE).\
\
**For Example:**

* You are the first and only depositor. You deposit 100 GDAO and receive 100 xGDAO.\ <br>

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |

* A buyback for 100 GDAO takes place. That GDAO is transferred into the vault. Now there are 200 GDAO deposited and 100 xGDAO in circulation. Your 100 xGDAO is now worth 200 GDAO.

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |
| **0**           | **100**          | **0**           | **0**            | **200**           | **100**          | **2**                   |

* Another user deposits 100 GDAO. 1 xGDAO = 2 GDAO, so they receive 50 xGDAO.

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |
| **0**           | **100**          | **0**           | **0**            | **200**           | **100**          | **2**                   |
| **0**           | **100**          | **0**           | **50**           | **300**           | **150**          | **2**                   |

* You return your 100 xGDAO to withdraw 200 GDAO. Now there are 50 xGDAO and 100 GDAO.

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |
| **0**           | **100**          | **0**           | **0**            | **200**           | **100**          | **2**                   |
| **0**           | **100**          | **0**           | **50**           | **300**           | **150**          | **2**                   |
| **200**         | **0**            | **0**           | **50**           | **100**           | **50**           | **2**                   |

* Another 100 GDAO buyback happens. Now there are 50 xGDAO and 200 GDAO. 1 xGDAO = 4 GDAO.

| **User A GDAO** | **User A xGDAO** | **User B GDAO** | **User B xGDAO** | **GDAO in vault** | **xGDAO supply** | **GDAO value of xGDAO** |
| --------------- | ---------------- | --------------- | ---------------- | ----------------- | ---------------- | ----------------------- |
| **0**           | **100**          | **0**           | **0**            | **100**           | **100**          | **1**                   |
| **0**           | **100**          | **0**           | **0**            | **200**           | **100**          | **2**                   |
| **0**           | **100**          | **0**           | **50**           | **300**           | **150**          | **2**                   |
| **200**         | **0**            | **0**           | **50**           | **100**           | **50**           | **2**                   |
| **200**         | **0**            | **0**           | **50**           | **200**           | **50**           | **4**                   |

Deposit/withdrawal in/out from xGDAO. Cycle between the deposit/withdraw tabs. Note that you will need to approve the token transfer before deposit/withdrawal.

![](https://lh5.googleusercontent.com/fHbKSRkVBQs23xSCw6zTadsJtfMrvgbgMZpmsfH6gzlqXedVsylvuqkXieXNyTkeSEITHKXVmpVpLBwhzPDmAdC4Rb0Q5LDhg1TvmGOHxlYaAnXwc3FO79FmqPDvVhCyHscLBs88=s0)

**Warning on a Non-PoE Fee**

If the connected wallet to the vault does contain a PoE \[Proof of Existence] token, a 3% fee will be deducted on deposit and distributed to other GDAO holders in the vault. To avoid the fee, sign up for your own PoE token through the [Proof of Existence Portal](https://onlyoneme.governordao.org)

![](/files/QEjrvCzqgEltKthuIoE5)

**Warning on Early Withdrawal Decay Fee**

As mentioned, an early withdrawal before the 10-day period will result in a decaying fee % which decreases daily.

![](/files/Awrw6HkftOaGCjt1zUJZ)

In order to prevent gaming, there is a decaying fee on withdrawal. This is to prevent someone from depositing GDAO right before a buyback and withdrawing right after. If you deposit more, your time decay resets. The fee starts at 10% and decays -1% each day. Therefore if you deposit 1000 GDAO and decide to withdraw within 24 hours your GDAO withdrawal will be 900 GDAO.

You should notice that your GDAO/xGDAO balances will change with these interactions.

![](/files/iwpCjpasC2XCuE66RsOp)

**PoE Purchase**&#x20;

In its current setup the PoE token is free + gas to claim. At a later date the cost of the PoE token will be priced around a bonding curve: cheap for the first signups and increasingly expensive over time (with more signups, the value of being part of the list increases as more and more projects will be looking to leverage the “global whitelist”).<br>

Purchasing PoE token with a referral URL \[<https://passport.governordao.org>]

By default a referral link will be displayed in the following format:\
[**https://vault.governordao.org/?ref=0x**](https://vault.governordao.org/?ref=0x)**\<ETH\_Wallet\_Address>**

By default a referral link will be displayed in the following format:&#x20;

**Register for Hashing**

The URL link can be shared exposing your ETH wallet address or you have the option to hash the wallet address which will mask the identity of the wallet and provide you with a new referral URL which will typically look twice the size but the address won’t be in a recognized format.&#x20;

**Important note:** The hashing of your wallet address is specific to the vault smart contract only, no changes are made to your Metamask or connecting wallet.&#x20;

To hash your wallet address a one-off charge \[ETH/GAS] will need to be approved

When providing your referral URL, when the receiver pastes in their browser, the referral link will be reflected in  ‘Purchase PoE’ section which is only displayed once that person is VIP enrolled through the ‘Authentication Portal’&#x20;

If the referral is an authenticated address as the owner of the referral address 2.5% of the ETH is received per purchase and an increase on the ‘Referred users’ counter detailed below.<br>

![](https://lh3.googleusercontent.com/oxDTrZZyjEcfsmhROOwr44GxxGoruPcS7Rbmm7HU1MImE3tQpAK5wuk6W05ge4PWNO5j97yqvrRlUw6kwa_GKr-noz6-5DKhNUPJNyDpJQGdrCWPGzJIb9NPHR3oe-m4IaePzz6P=s0)

**Note that you are only able to purchase once!**

#### **Execute Buyback**

ETH from PoE purchases are sent to the “Buyback Agent”. The Buyback Agent sends that ETH in a number of configured directions.&#x20;

* The execution buys GDAO to add liquidity to the vault resulting in rewards to xGDAO participants.
* ETH is also sent to the treasury to build reserves.
* A % reward to the “contract caller”.&#x20;

Smart contracts do not operate by themselves - they need addresses to kick off transactions. Anyone can execute the buyback, and in doing so, they get a “caller fee” to help cover gas fees + a small reward.

<br>

![](/files/hFvXsp5cMzXGQaCpREjt)

**Note that there is a time restriction on buybacks therefore a buyback will only be available periodically.**&#x20;

In production, the goal will be to normalize the revenue “drip” from the Buyback Agent to the pertinent destinations, so the Agent has several restrictions on it:&#x20;

1. Time restriction where a purchase can only be made so frequently (this spaces out buybacks in case there is any major fluctuation in revenue).
2. Nominal ETH limit to prevent sandwich attacks that prey on large Uniswap purchases.
3. \[optional] ETH buyback minimum to prevent dust/DOS attacks.

#### **Raising Issues Through to the Team**

If any issues are experienced with enrollment or website issues, there are several options to source assistance

&#x20;**Request a Team Member in the following Governor Dao Community Spaces:**

**Governor DAO Telegram -**[ **https://t.me/GovernorProject**](https://t.me/GovernorProject)

**Governor DAO Discord -**[ **https://discord.gg/MVh5NkN7gt**](https://discord.gg/MVh5NkN7gt)

**Governor Dao Blog -** [**https://blog.governordao.org/help-desk-form/**](https://blog.governordao.org/help-desk-form/)

## **Glossary**

#### **Governance Vault Terminology**

**xGDAO:** The revenue sharing, governance, and ownership token at the center of the Governor DAO ecosystem. xGDAO is a derivative of GDAO, initially pegged 1:1, with the GDAO value of xGDAO increasing with revenue realized. Users can always mint xGDAO using GDAO and redeem xGDAO back for the underlying GDAO with no penalty\*

**\*Subject to decay conditions detailed on an early withdrawal**<br>

**Governance Vault:** The smart contract that owns other Governor DAO smart contracts. Ownership represents the ability to upgrade, replace, and phase out these contracts. Ownership decisions from the Governance Vault are made via consensus among the xGDAO holders who participate in this vault.<br>

**Revenue Splitter:** A smart contract that handles on-chain sales of GDAO products (initially, Proof-of-Existence signups). It designates the different destinations of ETH from incoming sales (ie: splitting some % to referrers, some % to Buyback Agent, etc.).<br>

**Buyback Agent:** A smart contract responsible for Governor DAO revenue strategy. On-chain revenue is sent to the Buyback Agent, which then converts and sends to destinations as needed. Buyback Agent will buy GDAO from the open market to deliver to xGDAO participants as revenue share, as well as to replenish the treasury and add liquidity.<br>

**Proof-of-Existence (PoE):** Governor DAO’s biometric blockchain product that tags Ethereum addresses as belonging to provably unique individuals. The POE itself is a non-transferrable ERC20 that is anchored to the wallets of users who sign up. Any developer can reference that POE token to create authenticated smart contracts.\ <br>

###

<br>


# FAQ Governance Vault

A number of questions have surfaced since the vault has launched. Questions answered below\..

### FAQ Governance Vault v1.1

1\. **Can I deposit directly from Gate.io? (Gate.io is for non-US residents only)**

No, you must deposit using a Web3 compatible wallet ie Metamask.

2\. **Can I just transfer my GDAO into the Governance Vault instead of using the deposit function?**

No, if you do this you will lose your GDAO, and you will not be compensated!

3\. **Do I need to have a PoE Token to deposit to the vault?**

No PoE token is required, Vault is open to any GDAO holders but there will be a 3% fee of GDAO which was decided by the community.

4\. **Will I be warned or prompted about deposit fees when using a wallet without a PoE token or withdrawal fees when withdrawing early?**

Yes, for any fee on deposit or withdrawal a warning will display. The frontend website will detect the status of your PoE token and whether you are withdrawing early (under 10 days).&#x20;

![](/files/EHwvDbR2XyujDbn7N14i)

![](/files/De5yb49R8WkTtDSWDH7A)

5\. **How do I deposit my GDAO into the vault**

Navigate to the following URL [Governance Vault - Governor DAO](https://vault.governordao.org/), first transaction will be an ‘***Approve***’ and 2nd will be a ‘***Deposit***’ transaction which are both standard transactions that require gas \[eth]

**6. I enrolled for Proof-of-Existence, but I don’t see my wallet as holding a PoE token, Please explain?**

Once your [PoE enrollment](https://onlyoneme.governordao.org) is complete, you can mint your POE token from the [PoE Passport Portal](https://passport.governordao.org), which will cost a small gas fee to complete the transaction. An automated process runs every 4 hours which collects new enrollments and authorizes the new wallet to mint a PoE token. Once minted, the PoE token will not automatically be visible in your wallet, add the following contract address on Mainnet 0x5945bAF9272e0808165aDea61b932eC1604FB161

7\. **Why did APR go up/down?**

APR is dependent on a few different variables. It goes down when more users deposit (up when they withdraw). It goes down when GDAO goes up relative to ETH, and it goes up when GDAO goes down relative to ETH. These metrics don’t include the Non-PoE fees and early decay fees which can’t be incorporated.

8\. **My xGDAO is worth less than when I deposited it. I was informed xGDAO will only increase!**

The GDAO value of xGDAO only goes up, indefinitely. The dollar price can fluctuate in both directions as the price of GDAO does.

9\. **Why is my xGDAO not increasing in the ‘Wallet/Vault Balances’ panel**

When depositing GDAO, xGDAO is received as a receipt token. GDAO is staked in the vault not xGDAO therefore the value of xGDAO will increase not your holdings. Your GDAO balance will increase, not xGDAO.

10\. **I have staked my GDAO and not seeing any increase, please explain?**

There are 3 core components which would trigger an increase to your holdings.

&#x20;  a) GDAO deposits from a holder without a PoE token which would result in a 3% fee (GDAO) deposited into the vault, pushing up the value of xGDAO.

&#x20;  b) GDAO withdraws within 10 days, early withdrawals result in a decay fee starting at 10% on first day, decreasing 1 % per day. Decay fee of GDAO again distributed into vault increasing value of xGDAO and your GDAO balance.

&#x20;  c) BuyBack agent, when buybacks are active anyone can initiate a buyback every 72 hours (3 days), a buyback will pull ETH into the contract and kick off several transactions including buying GDAO from open market and LP. The transaction will increase the value of xGDAO and your GDAO balance. **Very important to note**, there must be ETH deposited to the buyback agent to allow a buyback. The community approved a vote [\[Link\]](https://forum.gdao.info/t/governance-vault-subsidization-strategy/2819) to subsidize ETH from the treasury to fund the vault until revenue starts to flow from NFT launches and potential LGE \[Liquid Generation Events] which the project will provide.

**11. How do I know how much ETH is available in the BuyBack agent and the duration it will last?**

There are two stats on the vault which will provide info on the above.

a) Buyback Agent Reservoir: xx days - In the stats panel there following value will display the number of days the buyback can run with the current ETH which is available.

b) In the 'Buyback Agent' panel the ETH balance displayed is the ETH that is remaining in the Buyback. Any proceeds from NFT launches etc will push the value up.

**12. What will happen if no one executes the buyback button, or if I execute it?**

If the Buyback button is not executed the only increase in rewards will be from non-PoE deposits and early withdrawal fees. The button must be manually executed to trigger off the buybacks detailed in Q9 c.&#x20;

If you execute the buyback there will be a gas cost for the transaction which will be reimbursed by the amount detailed in the buyback panel Reward: 0.xxxx ETH

13\. **Will the amount of xGDAO I receive change on deposit over time?**

The ratio or conversion on GDAO = XGDAO will change depending on how much GDAO is in the vault. If no one was to remove their GDAO over time depositors would receive less xGDAO for their GDAO. For example, early deposits would have received close to 1 GDAO = 0.9999 xGDAO, conversion on writing this is 1 GDAO = 0.9961 xGDAO therefore a slight decrease

14\. **Can I deposit from Ledger?**

Hardware wallets utilizing Web3 functionality (ie Ledger Live + MetaMask) can interact with the Governance Vault through the webpage.

15\. **After depositing GDAO and receiving xGDAO in my wallet, can I move xGDAO to a different wallet?**

xGDAO is an ERC-20 token therefore can be moved to any ERC-20 compliant wallet. If xGDAO is moved to another wallet, that wallet will need to be connected to the vault to withdraw the GDAO. Please note the 2nd wallet will not host a PoE token therefore if there is an intention to deposit back from the 2nd wallet there will be a non-PoE fee on deposit.

16\. **How can I see my xGDAO after I have staked my GDAO?**

Once GDAO has been staked in the vault and you receive xGDAO, you can view xGDAO in your wallet by adding the xGDAO contract ID to your wallet and it will then display your holdings.&#x20;

xGDAO Contract: 0x306978da6ebee060375f35418744f85c1cb6b353&#x20;

Additionally, there is an option to add the contract addresses to your wallet in the "Wallet/Vault Balances" panel of the Vault. Just click on the foxes.

![Click fox to add GDAO / xGDAO](/files/5zpl79xvvWZxlG3Svemz)

17\. **How do I find out more regarding the vault?**

You can learn more about the Vault in this [user guide](https://docs.governordao.org/how-to-section/governance-vault-user-guide).

![Vault Buyback Overview](/files/usd80xeHJ5h6b2irOjuu)


# Get Some MATIC (Buy/Bridge)

How to obtain MATIC for NFT mints and more!

There are numerous ways to fund your Polygon wallet with $MATIC for use during NFT mints and token sales: below we categorize them based on value and ease of the process.

* **BEST OPTION** - Buy Polygon directly from Coinbase or another centralized exchange (Kucoin, Binance) and send directly to your MATIC wallet address via withdrawal. This process circumvents ETH gas fees and will cost less than $1 in all cases.

- [ ] a. Purchase value in MATIC using exchange from another held crypto or via bank ACH/Credit card.
- [ ] b. Withdraw MATIC to your MetaMask wallet via the withdraw tab.

* **Credit/Debit OTC Option** - Purchase MATIC directly using a service such as CEX (<https://cex.io/buysell>) or MoonPay (<https://www.moonpay.com/buy/matic>) this will allow you to purchase OTC via a credit/debit card (depends on country of origin) and sends directly to your MATIC wallet in one transaction. Fees are generally 1-2.5%.

- [ ] a. Navigate to your preferred OTC provider.
- [ ] b. Input MATIC amount you would like, input wallet address for receiving, and credit card information.&#x20;
- [ ] c. Submit the transaction and shortly after confirmation MATIC will appear in your wallet.

* **Bridging Option** - Swap MATIC for another token in your ETH wallet via bridging. This process requires the most time, is the most likely to have an issue with, and can be confusing to inexperienced users. This process will require some ETH for bridging as well as a small amount of MATIC. If you decide to swap AFTER bridging funds you will save some ETH at the expense of needing MATIC up front. You can obtain enough MATIC for gas fees from a faucet such as <https://matic.supply/>.

- [ ] a. Decide whether you will swap first or bridge first. If swapping first continue with B below, if not bridge funds first (follow D) then return to B - the swap of your choice to swap to MATIC.
- [ ] b. Navigate to your swap of choice (Uniswap, Sushiswap, 1Inch)
- [ ] c. Swap the token of your choice (ETH will be cheapest if still on ETH Mainnet) for MATIC, gas fees will apply if you perform the swap from ETH Mainnet.
- [ ] d. Bridging to MATIC from ETH Main requires using the official MATIC BRIDGE (<https://wallet.polygon.technology/login?next=%2Fbridge>) or another supported service bridge (<https://wallet.polygon.technology/fast-withdraw>) - please login with your ETH wallet and bridge the MATIC purchased above - two separate transactions will take place. The first will require ETH gas, the second will require a small amount of MATIC (can be obtained from faucet). Using this method, the process to move over from ETH to Polygon may take up to 10 minutes due to the block timing. **Note: Be sure you are bridging from ETH TO MATIC.**

### Matic Faucet

You can obtain enough MATIC for gas fees from a faucet such as <https://matic.supply/>.

*Once you have completed one of the three methods above you will have MATIC in your wallet. To add MATIC to your available network selection list, please go to <https://chainlist.org/> and search for “Polygon Mainnet” an option will show to connect your wallet and then to add the chain. This will add Polygon (Matic) Mainnet to your available chains in Metamask. Open your wallet on the Polygon (MATIC) chain to see your balance and transact with Polygon (MATIC) offerings such as* [*polygon.governordao.org* ](https://polygon.governordao.org/)*​*

{% embed url="<https://gblobscdn.gitbook.com/assets%2Fcremepieswap%2F-Mdpqt9EFTOkPKPYbIea%2F-MdprE9Wmoms9hm67UEz%2F7.jpeg?alt=media>" %}
Manual MATIC Settings
{% endembed %}


# Polygon Chain - MATIC Management

Guide to Acquire MATIC on the Polygon Network

Polygon Chain

Buying MATIC / Bridging to Prepare for Purchase

### Off-Chain - Centralized Exchange \[CEX]

There are numerous ways to fund your Polygon wallet with $MATIC for use during NFT mints and token sales: below we categorize them based on value and ease of the process.

**Purchase Matic Through an Exchange**

1\. Buy Polygon directly from Coinbase or another centralized exchange (Kucoin, Binance) and send directly to your MATIC wallet address via withdrawal. This process circumvents ETH gas fees and will cost less than $1 in all cases.

**A**. Purchase value in MATIC using exchange from another held crypto or via bank ACH/Credit card.\
**B**. Withdraw MATIC to your metamask wallet via the withdraw tab.&#x20;

#### Credit Card using OTC (Over the Counter)

2\. Purchase MATIC directly using a service such as CEX (<https://cex.io/buysell>) or MoonPay (<https://www.moonpay.com/buy/matic>) this will allow you to purchase OTC (Over The Counter) via a credit/debit card (depends on country of origin) and sends directly to your MATIC wallet in one transaction. Fees are generally 1-2.5%.

1. Navigate to your preferred OTC provider.
2. Input MATIC amount you would like, input wallet address for receiving, and credit card information.
3. Submit the transaction and shortly after confirmation MATIC will appear in your wallet.

### On-Chain - Mainnet > Polygon

3\. Swap MATIC for another token in your ETH wallet via bridging. This process requires the most time, is the most likely to have an issue with, and can be confusing to inexperienced users. This process will require some ETH for bridging as well as a small amount of MATIC. If you decide to swap AFTER bridging funds you will save some ETH at the expense of needing MATIC up front.

**A**. Decide whether you will swap first or bridge first. If swapping first continue with **B** below, if not bridge funds first (follow **D**) then return to **B** - the swap of your choice to swap to MATIC.

**B**. Navigate to your swap of choice (Uniswap, Sushiswap, 1Inch)

**C**. Swap the token of your choice (ETH will be cheapest if still on ETH Mainnet) for MATIC, gas fees will apply if you perform the swap from ETH Mainnet.&#x20;

**D**. Bridging to MATIC from ETH Main requires using the official MATIC BRIDGE (<https://wallet.polygon.technology/login?next=%2Fbridge>) or another supported service bridge (<https://wallet.polygon.technology/fast-withdraw>) - please login with your ETH wallet and bridge the MATIC purchased above - two separate transactions will take place. The first will require ETH gas, the second will require a small amount of MATIC (can be obtained from faucet). Using this method, the process to move over from ETH to Polygon may take up to 10 minutes due to the block timing.

Note: Be sure you are bridging from ETH **TO** MATIC.

#### Claiming Free MATIC from Faucet

You can obtain enough MATIC for gas fees from a faucet such as <https://matic.supply/>. Claiming will provide sufficient Matic to potentially claim an a free NFT on the Polygon Chain.

#### Add Polygon Network to Your Wallet

Once you have completed one of the three methods above you will have MATIC in your wallet.

To add MATIC to your available network selection list, please go to <https://chainlist.org/> and search for “Polygon Mainnet” an option will show to connect your wallet and then to add the chain. This will add Polygon (Matic) Mainnet to your available chains in Metamask.&#x20;

!\[Graphical user interface, text, application

Description automatically generated]\(/files/BSwkheoN5YofC3qrjKah)


# Polygon NFT Bridge Guide

Quick summary on bridging NFT's to Mainnet with considerations

Polygon NFT launchpad Q & A Summary of questions regarding minting and bridging NFTs from Polygon to Mainnet

1. Can I move my NFT from Polygon to Mainnet or vice versa? In Short yes, there are currently a few options available for moving your NFT from Polygon to Mainnet, or vice versa using an app <https://bridge.mintnft.today/>
2. What will it cost to bridge/move? The cost to send from Polygon to Mainnet is approximately the same cost as sending an ERC-20 token on mainnet from one wallet to another plus the added upfront small MATIC Token fee on the POLYGON network.
3. Will the NFT display in OpenSea once I have moved to Mainnet? This depends on whether the artist has aggregated the data to the opposing network. There is no good way to ascertain this before moving the NFT, so beware! You can ALWAYS sell the NFT and a bid can be placed, but it MAY NOT be “as public” as it once was.
4. Will all the NFT attributes and rarities still display on Mainnet OpenSea? This is dependent on whether the artist has aggregated the data to the opposing network and set up the collection on the opposing network.
5. If the OpenSea collection was set up for Polygon, would there need to be an OpenSea Collection on Mainnet too? Yes, the artist would need to set up the collection for both chains in most cases, unless the original collection was ERC1155 tokens, in which case it will cross over automatically.
6. Would it affect the value if an NFT collection is scattered across chains? The collection itself has a floor value and metrics for sales; this value would not necessarily transfer over or may transfer with a lower value if moved from one chain to another.
7. From a resale value, if I moved my NFT from Polygon to Mainnet, are there any considerations before I move/bridge? The price could be LOWER or higher if you move the asset. Considering whether the collection is aggregated to OpenSea and optics of the chain are also key.
8. How do I configure my wallet to connect to Polygon? The following dAPP will configure your MetaMask wallet on the majority of chains: <https://chainlist.org/>

Polygon/Matic Links Polygon bridge – Send crypto from Mainnet to Polygon: <https://wallet.polygon.technology/bridge>

Uniswap equivalent to acquire Matic: <https://quickswap.exchange/>


# Frontend Developer Role

We are looking for an experienced developer who can design and build robust web applications from the ground up with scalability in mind.

\
**Applications/Frontend/Software Developer**

**Description:**

We are looking for an experienced developer who can design and build robust web applications from the ground up with scalability in mind. Must be able to work with a geographically spread-out team working across time zones.

You should have experience in modern JS/Typescript development, with modern tooling such as Github Actions CI, and Git source control.

You need to be able to participate in team discussion and planning and should be able to provide feedback on proposed technical solutions.

Any experience with infrastructure (Linux servers, AWS cloud) would be fantastic, and any work in the crypto space would be great (we use Web3, and Solidity).

Get in touch if you want to work on cutting edge, interesting tech with a fast moving, agile team.

**Required Skills**

1\.      Experience with front end development using modern Javascript/Typescript frameworks. For example: React or other frameworks such as Vue/Angular

2\.      Experience with CSS, HTML

3\.      Experience integrating front ends with REST APIs

4\.      Experience working as part of a team, tracking tasks, and meeting deadlines.

**Required Experience**

\-          CSS / HTML

\-          Javascript/Typescript

\-          React or similar

\-          Source control, such as Git

\-          Unit tests

\-          Web3.js

**Desirable Experience**

\-          NodeJS REST api’s

\-          Solidity

\-          Full stack experience

\-          SCSS / SASS (CSS pre-processors)

\-          Architecture of applications / solutions

\-          Graphic design skills (making websites look great!)

\-          Build pipelines / CI (Github Actions / Azure Dev Ops / Jenkins / etc)

\-          Infra such as AWS / EC2 / Load balancers / Cloudflare / Linux / Nginx

**Other Info:**

·         Competitive pay rate paid in Crypto Stablecoin  (USDC) and GDAO

·         Experience with smart contracts is a bonus.

\-          **Interested candidates please email** <careers@governordao.org> **with the following:**

\-          CV / Resume

\-          Highlight web3 / ETH experience

\-          Link to Github or Portfolio Site

\-          Link to LinkedIn and/or Twitter

\-          Answers to these questions:

\-          1) Why do you think you're the best candidate to join GovernorDAO?

\-          2) Are you currently working on other projects ?


# Smart Contracts Hub

| # GovernorDAO - GDAO                                                                                                                            |
| ----------------------------------------------------------------------------------------------------------------------------------------------- |
| Mainnet ETH                                                                                                                                     |
| [​https://etherscan.io/token/0x515d7E9D75E2b76DB60F8a051Cd890eBa23286Bc](https://etherscan.io/token/0x515d7E9D75E2b76DB60F8a051Cd890eBa23286Bc) |
|                                                                                                                                                 |
| #Polygon                                                                                                                                        |
| <https://polygonscan.com/address/0x98113e216578359b8c0eb3a9fddd64285e91120a>                                                                    |
| ​                                                                                                                                               |
| # Governor Vault - xGDAO                                                                                                                        |
| <https://etherscan.io/address/0x515d7E9D75E2b76DB60F8a051Cd890eBa23286Bc>                                                                       |
| # PoE Contract                                                                                                                                  |
| <https://etherscan.io/address/0x5945baf9272e0808165adea61b932ec1604fb161>                                                                       |
| ​                                                                                                                                               |
| # NFT Deployer Minter                                                                                                                           |
| <https://etherscan.io/address/0xf8187866e6c3777a6e9e0946247a2fe9a7c7e3de>                                                                       |
| ​                                                                                                                                               |
| # NFT Deployer Minter Code                                                                                                                      |
| <https://etherscan.io/address/0xf8187866e6c3777a6e9e0946247a2fe9a7c7e3de#code>                                                                  |
|                                                                                                                                                 |
| GOVTREASURER                                                                                                                                    |
| <https://etherscan.io/address/0xc597b10eB4DBabA8c6a887792b60AabcBF27e076>                                                                       |
|                                                                                                                                                 |
| #BuyBack                                                                                                                                        |
| <https://etherscan.io/address/0x02468787ba24c6fb606084d568ad8b4b0dff13aa>                                                                       |
|                                                                                                                                                 |
| # Payment Splitter                                                                                                                              |
| <https://etherscan.io/address/0x7f651fa68337208ed54e92dde8a52c5d8b629a5c>                                                                       |


# Glossary of Terms

Common terminology used throughout the Governor DAO ecosystem

### **Glossary**

#### **General Blockchain**

**ERC20:** Standard token format for fungible assets on the Ethereum blockchain. GDAO is an ERC20.<br>

**Gas:** The ETH fee required to send transactions on the Ethereum blockchain.<br>

**Smart Contracts:** Codified interactions that exist on the blockchain. Smart contracts assert a financial exchange between two or more parties.<br>

**On-Chain:** Interactions that happen on the blockchain. Ownership, revenue management, products, and more that exists on the blockchain: which ensures that those activities are decentralized, transparent, and infallible.<br>

**Decentralized Exchange (DEX):** A cryptocurrency exchange that is permissionless (ie: anyone can participate) and orders happen on-chain via smart contracts. There is no middleman in a DEX: buyers and sellers interact with each other directly in a secure manner that prevents any party from being taken advantage of.<br>

**Automated Market Maker (AMM):** A particular instance of a decentralized exchange where all liquidity (collective buy and sell orders) are pooled together. Traders can only place market buys/sales and the price moves up or down with every trade.<br>

**Liquidity/Liquidity Providing:** The act of contributing capital to an AMM where it is used as the order book for traders to sell into/buy out of.<br>

**Decentralized Autonomous Organization (DAO):** A tokenized entity (almost akin to a corporation) where ownership and management responsibilities are delegated to token holders.

#### **Governor DAO Terminology**

**xGDAO:** The revenue sharing, governance, and ownership token at the center of the Governor DAO ecosystem. xGDAO is a derivative of GDAO, initially pegged 1:1, with the GDAO value of xGDAO increasing with revenue realized. Users can always mint xGDAO using GDAO and redeem xGDAO back for the underlying GDAO with no penalty\*

**\*Subject to decay conditions detailed on an early withdrawal**<br>

**Governance Vault:** The smart contract that owns other Governor DAO smart contracts. Ownership represents the ability to upgrade, replace, and phase out these contracts. Ownership decisions from the Governance Vault are made via consensus among the xGDAO holders who participate in this vault.<br>

**Revenue Splitter:** A smart contract that handles on-chain sales of GDAO products (initially, Proof-of-Existence signups). It designates the different destinations of ETH from incoming sales (ie: splitting some % to referrers, some % to Buyback Agent, etc.).<br>

**Buyback Agent:** A smart contract responsible for Governor DAO revenue strategy. On-chain revenue is sent to the Buyback Agent, which then converts and sends to destinations as needed. Buyback Agent will buy GDAO from the open market to deliver to xGDAO participants as revenue share, as well as to replenish the treasury and add liquidity.<br>

**Proof-of-Existence (POE):** Governor DAO’s biometric blockchain product that tags Ethereum addresses as belonging to provably unique individuals. The POE itself is a non-transferrable ERC20 that is anchored to the wallets of users who sign up. Any developer can reference that POE token to create authenticated smart contracts.<br>


# Creating LP & stake in Geyser Fountain Pool

How to create ETH/GDAO LP UNI-V2 and stake in Geyser Pool

\
**Summary**

Following assists with creating LP \[Liquidity Provider] for staking in Geyser or on Uniswap.

**Prerequisites**

·         ETH

·         GDAO

·         ETH for conversion and staking

**How Uniswap Liquidity Pool works**

We will go further to explain how the Uniswap Liquidity pool works. The liquidity pools are an aggregation of tokens in smart contracts. There are many ERC-20 tokens in this liquidity pool for you to exchange – swap, send, and Pool- with another person, With Ethereum being the conduit. So, you can create a new exchange pair in a new liquidity pool for any token of your choice.

For example, you can be part of the ETH/GDAO liquidity pool. You will need to make an equal value of Ethereum and GDAO, which is the token that you want to participate with. Therefore when someone comes in and decides to trade ETH/GDAO on Uniswap, your liquidity will be taped.

If someone wants to trade Ethereum in exchange for GDAO, your GDAO liquidity might reduce while Ethereum liquidity goes up. If your GDAO goes down by a dollar, your Ethereum will go up by a dollar also. This is the way that the Uniswap Liquidity Pool work.

To provide LP one must contribute an equal split of two tokens 50/50 of each to form the LP.

**Create LP instructions**

1\.       Following link will position you to add 50 % of each

<https://app.uniswap.org/#/add/ETH/0x515d7E9D75E2b76DB60F8a051Cd890eBa23286Bc/3000>

2\.       Confirm the following as per screenshot

![Uniswap LP supply option](/files/-MjceP3MbAQRpKjhFgoC)

\-          Deposit Amount will be the contributed, by adding for example 1 ETH the required other half of GDAO will be displayed, then click ‘Supply’

3\.       A prompt to ‘approve’ and ‘convert’ will be required.

4\.       Once completed UNI-V2 tokens will be in your wallet.

5\.       If you add the following address to your wallet the LP tokens will display 0x4d184bf6f805ee839517164d301f0c4e5d25c374

![Add UNI-V2 token to Metamask](/files/-MjceTlk5yLo_6q6KSFe)

**To stake LP into Geyser**

Gysr fountain pool

<https://app.gysr.io/pool/0x9b1602f4d05d78909a0c0675150dfc5bdee7fdec>

Purchase GYSR option

If you choose to purchase GYSR this will push up your rewards based on the GYSR holding. Before purchasing any GYSR there is the option to understand the potential rewards would be based on your GYSR tokens.

**Important to note** that if you choose to purchase GYSR to gain the rewards the GYSR tokens will be burnt on entry which will secure your rewards but will not gain those GYSR tokens on exit.

![Geyser staking options](/files/-MjceXbJNA-dBKGKrQMJ)

Following link to purchase GYSR if required.

<https://app.uniswap.org/#/swap?outputCurrency=0xbea98c05eeae2f3bc8c3565db7551eb738c8ccab&inputCurrency=ETH&use=V2>

To Stake UNI-V2 GYSR

&#x20;   -> Click on ‘Max’ to select your available UNI-V2

&#x20;    ->  Click ‘Stake’   &#x20;

&#x20;    -> Approve UNI-V2

&#x20;   -> Approve GYSR (optional)

&#x20;   -> Stake them

## Impermanent Loss Calculator

<https://dailydefi.org/tools/impermanent-loss-calculator/>


# Geyser Fountain ETH/GDAO LP Staking

Liquidity Campaign Update & Next Steps

Per the successful forum vote, we are going to migrate Uniswap LP rewards to Geyser for Q3. Those rewards will begin the same time that rewards end in the existing mines.

We are going to use the new "fountain" feature in Geyser, which is non-competitive, passive yield farming. You can boost your stake by spending GYSR (we highly recommend you do so). That GYSR purchase goes back to Governor, where we will liquidate it to fund operations.

We recommend multiplying your deposit by supplying GYSR along your LP deposit. Note that this is a payment and contributed GYSR is sent to Governor DAO. You cannot retrieve that GYSR later

The Fountain has a "boiling" duration where you need to spend more time-in to realize the full rewards. There is a 60 day rollup from 50%-100% (meaning if you deposit and withdraw in one day you get 50% of your alloted rewards).

You can access the fountain here: <https://app.gysr.io/pool/0x9b1602f4d05d78909a0c0675150dfc5bdee7fdec>

All other mines will close out indefinitely. With no additional GDAO rewards, existing depositors are encouraged claim their rewards by the end time.

FAQ:

Q1: Do I need to deconstruct my current LP before I move it to Geyser? A: No, you can simply withdraw from the mines and deposit to Geyser

Q2: Are there any withdraw fees from the mines? A: No, you only need to pay gas to withdraw from the mines

Q3: What happens if I don't pull my deposits/claim my GDAO from the mines? A: Your deposit assets are always safe and controlled only by you. Your pending GDAO rewards may be forfeit if not claimed in time (we strongly recommend claiming right when the time runs out).

Q4: What happens after the next 3 months? A: Our intention is that, alongside this campaign, revenue generation will begin through POE and other products enabling us to seed our own LP. In the event that further campaigns are needed token holders may enact further votes to extend LP rewards into Q4.

Q5: Why would I pay GYSR? How does it work? What happens to those tokens? A: Geyser allows users to multiply the “size” of their LP deposit alongside a GYSR payment. The size of the boost depends on several variables: the size of your LP deposit, the amount of boost by other pool depositors, and the number of GYSR used to boost. It's a logarithmic increase that you can play around with on the frontend yourself. 80% of that GYSR is redeemed by the address that created the Geyser (the other 20% is platform fees). We will recurringly withdraw that GYSR, liquidate it to stablecoin, and deliver back to the DAO. GYSR payments are not recovered/returned to the end user.

Geyser \[GDAO/ETH LP Tokens vested] We recommend multiplying your deposit by supplying GYSR along your LP deposit. Note that this is a payment and contributed GYSR is sent to Governor DAO. You cannot retrieve that GYSR later

The Fountain has a "boiling" duration where you need to spend more time-in to realize the full rewards. There is a 60 day rollup from 20%-10% (meaning if you deposit and withdraw in one day you get 50% of your allotted rewards).


# MDAO LGE Guide \[ Muse DAO]

In Governor’s LGE model (which operates differently from other models branded LGE), users exchange their ETH for a “Synthetic LP” voucher. ETH from the LGE is paired with pre-allocated MDAO tokens.

![https//muse.governordao.org](/files/Ju31fIinCrr8DZBmHYdF)

**Proof-of-Existence Presale buffer: 24 hours (October 28th, 8pm UTC  | 1pm Pacific)**

Public LGE launch: **\[October 29th, 8pm UTC ] 1pm PST \[3 day only duration)**

&#x20;LGE Website <https://muse.governordao.org> {Will be live **October 28th, 8pm UTC  | 1pm Pacific}**

In Governor’s LGE model (which operates differently from other models branded LGE), users exchange their ETH for a “Synthetic LP” voucher. ETH from the LGE is paired with pre-allocated MDAO tokens. Over time, Synthetic LP can be returned for the real LP created. When this happens, users redeem their ETH AND MDAO (ETH => Synthetic LP => real LP => ETH + MDAO).&#x20;

**Important: there is a 24 hour presale for authenticated users only, to guarantee a sufficiently decentralized token at launch. To participate in this presale, you must authenticate your wallet through Sign up here** [**http://onlyoneme.governordao.org/**](http://onlyoneme.governordao.org/)

&#x20;

**We recommend signing up at least 24 hours before the presale begins in case of any issues.**

**Exclusive to PoE holders, presale participants will**

·        **Receive a 12% bonus on their contributions.**

·        **GDAO holders during the main sale will also benefit from a 7% bonus.**

&#x20;

**Distributions of proceeds**

·        85% of user ETH is deployed to LP.

·        12.5% is retained by the Muse treasury and

·        2.5% goes back to Governor DAO. Effectively, users get a 170% boost on their contributions (ex: 1 ETH becomes 0.85 ETH + 0.85 ETH worth of MDAO in LP).

&#x20;

**ETH = $3,500 / MDAO = $0.003**

Ex:

* *User contributes 1 ETH (1 \* 3,500 = $3,500)*
* *0.125 ETH to Muse DAO treasury (1 \* 12.5%)*
* *0.025 ETH to* [*Governor treasury*](https://blog.governordao.org/2021/01/12/governor-dao-bi-weekly-update-4-voting-staking-and-new-partnerships/) *(1 \* 2.5%)*
* *0.85 ETH (1 \* 0.85) + 991,666 MDAO (0.85 \* $3,500 / $0.003) posted as liquidity*
* *Position value: 1.7 ETH or $5,950 (0.85 \* 2 = 1.7 ETH \* $3,500)*

**Bonus calculation:**

* Presale participant contributes 1 ETH \* 1.12 = 1.12 ETH
* Main sale GDAO holder contributes 1 ETH \* 1.07 = 1.07 ETH
* Splits to MDAO, Governor, and liquidity add outlined above are unchanged

**Post-LGE**

The LGE ends when one or the other happens (whichever is first):

* Hard Cap of 235 ETH is achieved
* LGE time ends

&#x20;

**If the final contributions do not reach 50 ETH, the soft cap is not met and all contributions are returned to the users**. Otherwise, 85% of ETH raised and 250,000,000 MDAO is posted as initial liquidity and trading begins.

Within the 24 hours following the successful conclusion of LGE, the LP swap and sMDAO [vault](https://blog.governordao.org/2021/04/07/building-governor-dao-business-model-revenue-split-governance-upgrades/) contracts go live on the same page as the LGE.

**The sMDAO vault** is a [governance vault](https://blog.governordao.org/2021/06/06/governor-dao-bi-weekly-update-13-one-voice-one-vote-educational-webinar/) that operates similarly to [xGDAO](https://blog.governordao.org/2021/04/07/building-governor-dao-business-model-revenue-split-governance-upgrades/). 0.5% of every transaction is taken as fee and delivered to depositors to sMDAO autonomously. Governor DAO is solely responsible for porting the vault contracts and supplying the frontend. Contact Muse DAO for questions on reward generation and sMDAO in general.

Securing and withdrawing LP

The swap from Synthetic to real LP is gamified. There is a decaying tax that starts at 90% and decreases 1% each day to 0. In other words, if users elect to swap on day 0, they forfeit 90%. If they wait until day 40, they forfeit 50%. Forfeit LP from the tax goes back to the treasury, where it stays wrapped as liquidity. From 90 days and onwards, LP can be withdrawn without penalty.

The LGE model is more rewarding for contributors, and safer for the protocol. This initial liquidity is important in ensuring a safe launch, and the swap-and-liquify MDAO mechanics plus gamified swap will rebuild liquidity as initial LGE participants may elect to withdraw.

&#x20;

MDAO Launch by the Numbers

Public LGE launch: **\[October 29th, 8pm UTC ] 1pm PST \[3 day only duration)**

* Launch information will be surfaced in both Governor DAO and Muse DAO community mediums.

LGE Website <https://muse.governordao.org>

**Proof-of-Existence Presale buffer: 24 hours (October 28th, 8pm UTC  | 1pm Pacific)**

* **Only addresses** already authenticated can participate in the Presale. Information will initially be surfaced to authenticated individuals through the Governor DAO “Humans” chat.
* Presale buffer is a non-competitive, capped offering for provably unique individuals (PoE VIP’s) . [Sign up here](https://onlyoneme.governordao.org/) to participate.
* Presale cap: 7 ETH per user
* LGE hardcap: 228 ETH
* LGE softcap: 50 ETH
* ETH breakdown
* * 85%: paired to LP with 25% of MDAO total supply (250,000,000)
  * 12.5%: delivered to Muse treasury
  * 2.5%: delivered to Governor treasury
* Initial liquidity price assuming sell out: $0.003
* Initial Market Cap: $750,000
* Effective MDAO per ETH: 1,166,667 MDAO

NOTE: these numbers exclude bonuses awarded to presale participants and GDAO holders.

MDAO stats

* Total Supply: 1,000,000,000
* * 30% Vaults (300,000,000)
  * 25% LGE (250,000,000)
  * 20% DAO treasury (200,000,000)
  * 10% Muse founders (100,000,000)
  * 10% Production company (100,000,000)
  * 5% Governor DAO (50,000,000)
* Transaction Tax: 1.5%
* * 0.5% sMDAO depositors
  * 0.5% liquidity add
  * 0.5% MDAO treasury

Stay tuned for more information on where to participate and join the discussion with the Muse community through their [Discord](https://t.co/W9o8GNUwH2?amp=1).

Muse Launch Medium [article](https://medium.com/@MuseDAO/launch-date-announced-6a228c930558)

&#x20;![](/files/JZT6v51oLbFtIvWaX4mL)

!\[A screenshot of a video game

Description automatically generated with medium confidence]\(file:///C:/Users/UKSid/AppData/Local/Temp/msohtmlclip1/01/clip\_image001.png)

LGE Contribution Panel


# Governor DAO Post Mortem BEAN Governance Exploit

**Governor DAO**

\
![](/files/sryum6uWY1eBbW9HzB6f)

**$BEAN**

**Governance Exploit Post-Mortem**

**4/17/2022**

![](/files/9vLUCbs7Kke2kaT0mkF7)

By Jon Greenwood (jgr33nwood.eth)

[www.governordao.org](http://www.governordao.org/)

<team@governordao.org>

**Abstract**

Bean.Finance is a novel stable token operating on the ETH mainnet that acts as a debt consolidation point - pegging debt to future gains via their field and silo mechanisms in a previously unseen way. BEAN has stayed under the radar until more recently, where the market cap exploded from $40m to $180m in two weeks.

On or around block 14595309 on Apr-16-2022 08:38:56 AM (+UTC) a malicious actor exchanged $220,000 USD in ETH into BEAN in what starts a long trail of events to a full governance overthrow attack ([TX Here](https://etherscan.io/tx/0xfdd9acbc3fae083d572a2b178c8ca74a63915841a8af572a10d0055dbe91d219)).

* Following this transaction, the actor moved those BEANS into the Silo in [this transaction](https://etherscan.io/tx/0xf5a698984485d01e09744e8d7b8ca15cd29aa430a0137349c8c9e19e60c0bb9d).
* [BIP 18](https://etherscan.io/tx/0x9575e478d7c542558ecca52b27072fa1f1ec70679106bdbd62f3bb4d6c87a80d) and later, [BIP 19](https://etherscan.io/tx/0x68cdec0ac76454c3b0f7af0b8a3895db00adf6daaf3b50a99716858c4fa54c6f) were created and posted to the on-chain governance proposal section of the BEAN platform. These proposals voted for 250,000 BEANS to Ukraine via their official ETH wallet. Also, they asked for a 10,000 BEAN payment directly to the proposer.
* The attacker executes the attack:

a) They took out a flash loan from Aave

b) They accumulated as many whitelisted Silo assets as possible by buying Beans and adding LP positions (Bean:LUSD Curve LP, Bean:3Crv Curve LP).

c) They deposited all of the assets into the Silo and accumulated a Stalk position of > 67% of all outstanding Stalk. (Stalk is the governance token of the BEAN ecosystem)

d) The attacker emergency committed BIP-18 which transfers all assets in the Beanstalk contract to their wallet. [Here](https://etherscan.io/tx/0xcd314668aaa9bbfebaf1a0bd2b6553d01dd58899c508d4729fa7311dc5d33ad7)

**A Note on BEAN BIPs**

Proposing a BIP requires the proposer to own 0.1% of Beanstalk. A BIP can be emergency committed if: - It has been > 24 hours from the time of proposition - Has > 67% of the vote in favor of the BIP. Beanstalk did not use a flash loan resistant measure to determine the % of Stalk that had voted in favor of the BIP. This was the fault that allowed the hacker to exploit Beanstalk. It is important to note that up until the execution of transaction (4), nothing appeared to be wrong. The attacker was able to propose a BIP as designed by the protocol.

**Working Modality**

*To be fully transparent: Governor DAO has previously engaged with BEAN as a possible SME for future services rendered. No funds have been exchanged. Also, Governor DAO members were heavily exposed to BEAN including the development team.*

The attack vector seen in this event is a novel day-0 combined with a known vulnerability of on-chain voting systems. At Governor DAO we take a stance on governance that includes a mindset where on-chain voting apparatuses are not always secure due to their ability to have direct correlational moves to treasury funds, contract executions, and systematic changes to modalities previously not audited.

When looking at this exploit through rose-colored lenses, the animus falls on whoever “should have” seen this coming - in our eyes - this is shortsighted. There is no current consensus on how governance operations from an on-chain perspective should be moderated; if at all. After all this is the decentralized world of DeFi and the question always remains: IF (importance on this word) a governance system is set up flawlessly, should user interaction and quorum alone be the sole arbiter of sending funds, liquidating treasuries, and moving pools? The importance here is the IF. Throughout my tenure in the governance space circa THE DAO - many experts have hypothesized critical theories on governance and whether or not complete decentralization of high-cap or even smaller ecosystems is plausible.

Not a single B2B call goes by where the Governor team does not reference proposal attacks such as the one seen in the BEAN exploit this morning. We see proposal attacks and Sybil Resistance attacks as our bread and butter to defend against with our Sybil Resistance technology as well as GaaS (Governance as a Service) models. In the case of the BEAN exploit, without *proper* Sybil Resistant governance in place, or without another form of governance moderation that is removed from the automatically-executed transactional outcome: this exploit is a realistic outcome regardless of the amount of audits performed, contracts secured properly, or “eyes-on” the proposals simply because of this automatic nature.

In short, there was no logical prevention of this attack with an on-chain governance system in play. There are many other logical attacks that could theoretically have the same outcome, whereas off-chain voting would allow for a final trigger to be placed on either another quorum being met, a multi-signature, or owner wallet.

At the end of the day: not using democratic voting systems in combination with Sybil Resistant technologies creates a haven for voting quorum to be gamed. If all voters only held a maximum weight of 1+\[99-x] (where the output is always lower than 2) there is no possible way for a single entity to kick off an event regardless of vector. Proof of Existence and GaaS would have solved this situation and prevented it in real time, not allowing the flash attack to have taken place and in fact would have alerted the team to malicious activity in real time thanks to reporting modules that can be set up giving the ability to hard-pause if needed.

The special part about this exploit was the obfuscation and “hidden payload” within the BIP which has not been previously seen in the wild; at least not in this way. The exploiter used a flash loan to borrow the voting power needed to push the proposal into emergency action via a bean purchase and deposit, and then ALSO triggered a withdrawal of funds in an exit call hidden within the BIP. Since a flash loan completes in a single block, the theoretical BEAN was non-existent, but it allowed the attacker to exit with “his share” of the protocol which was heavily inflated. Using this method the attacker tricked the protocol into relieving the ENTIRE liquidity provisions of the stable since he was theoretically entitled to those funds after depositing into all three pools on the BEAN platform and then exiting which pulled out all the liquidity in those pools. (LUSD,3CRV,BEAN/ETH LP) Once the transaction was over and the funds were removed that were previously deposited, less than 0.25% of the initial liquidity remained.

To recap: Funds were entered to buy voting power, and then in a quick succession, were used to vote to pass the proposal, which then triggered the overrun of BEAN ownership, which then allowed the exploiter to liquidate “his portion” which was not actually fully his, and was only inflated to look as such. This was a new modular-attack that required knowledge of the inner workings of the contract environment, as well as the inner-workings of the governance system. Most likely the exploiter is not a novice.

The only other small mitigation factor here that COULD have been used would be a better setup of Diamond Facades (EIP-2535) in a way that does not proxy into one another allowing access to an individual's protocol-held LP from a proposal creator. Since this is out of the scope of myself and Governor DAO’s base - I will refrain from commenting on this and leave it up to SOL professionals.

**Anti-Mortem**

An immediate recommendation to the BEAN team was made this morning by myself via Discord call at 8:15 AM CST - “Disable BIP immediately and move to Snap/Scattershot for off-chain governance and adhere to it.” This recommendation goes miles for both the recovery of the BEAN protocol, which Governor DAO is more than happy to assist with as possible - as well as the future of the protocol as it grows to surpass the previous 200M market cap.

Moving forward, the BEAN team has shown that they are going to listen to the advice of myself and other individuals to implement better governance systems as well as decouple governance systems from holdings in an off-chain manner.

I personally recommend on-chain reporting firms look into tracing the unique distribution of tornado funds to possibly freeze them at an endpoint - although this is unlikely due to the endpoint not being controllable or the endpoint being a non-cooperating entity.

People have mentioned that the proposals themselves were questioned by community members, but clearly nobody guessed that someone would flash-attack in order to send $250,000 to Ukraine. In reality the hidden exploit behind the contract call was bundled in a way that was obfuscated from normal interactions and appeared to be harmless. Another proposal to die, or be voted into existence at the whim of the community. Perhaps more eyes on these proposals are due in the future, regardless of their aim or scope - as a once over would have shown that the exploiter address and the payee address did not match on the BIP as one would think.

Governor DAO calls upon projects to take a SERIOUS look at their governance systems and how they can be better implemented, what works on paper does NOT always work out in the wild. Feel free to reach out to us for any help needed along the way - that is what we are here for. As far as BEAN is concerned, although current funds are drained, the team feels like there is a healthy chance that the project will rise from the ashes similar to Governor DAO itself.

Be safe out there,

Jon Greenwood

*Managing Partner*

**Governor DAO**


# Proof of Existence Snapshots

A dedicated Proof of Existence token Snapshot has been set up to further implement our vision of “One Voice, One Vote.” \[<https://snapshot.org/#/proofofexistance.eth>]

This snapshot is different from the GDAO snapshot in a few fundamental ways: primarily because the maximum amount of PoE tokens any one holder can have is one. This allows, for a multitude of verifiably fair voting processes. Most notably the PoE snapshot allows for TRUE Sybil resistant voting with each person being able to vote only once, with ALL votes weighted evenly.&#x20;

The previous GDAO snapshot page can still be used alongside this PoE Snapshot page to get a weighted vote with two inputs - similar to the Electoral College (USA). An example is below:

100 GDAO/PoE holders vote on quarter one payment initiatives. The 100 individuals can vote on a “One Voice, One Vote” standard first using the PoE snapshot - showing a democratically drawn vote count. The same individuals would then vote on the GDAO snapshot which would bring holdings into play and weigh the votes appropriately. Quorum (total % of votes needed) on BOTH snapshot votes would be adjusted (ie: 70% POE/50% GDAO) to allow for a HIGHER positive or negative input to be needed. The final count on these snapshot votes would be summed using the following formula: ((PoE Votes x 1.5) + (GDAO Votes)) / 2 This new vote count means that PoE holders are weighed heavier than GDAO holders - because we KNOW they are unique holders with unique input. The GDAO voters on the other hand are instrumental to the DAO and their input is weighted as always at the same rate as snapshot output. Once these two are averaged together the vote becomes much more CONCISE given the nature of the quorum and the voting average. The final vote count would be used to decide on the initiative with a higher passing percentage required versus past votes. (70%)

Another way in which the PoE voting snapshot page can be leveraged is to vote on PoE-centric initiatives that affect the PoE holders themselves primarily. An example of this could be Non-PoE deposit or withdrawal fee changes in the vault - as the PoE holders themselves are the MOST important input in this case.

We would like to remind you again that the PoE token is STILL free to obtain via <https://onlyoneme.governordao.org>


