Governance

Governance alone does not completely eliminate conflict directly but provides the tools and means to resolve it.

EpiK Protocol's governance model aims to provide the community with the tools to resolve conflicts and pursue the maximization of stakeholder interests. To achieve this goal, we adhere to two basic principles when designing.

Principles

Principle of information disclosure

EpiK Protocol chose the a Decentralized Autonomous Organization (DAO) as its governance model. This form of governance in the EPiK Protocol network is known as the EPK DAO. The DAO is a decentralized proposal management solution using blockchain smart contracts. All proposal, voting and execution information in the DAO will be disclosed and recorded in real time on the tamper-proof blockchain.

Principle of interest relevance

Everyone in the EPK DAO has the right to vote on proposals that are relevant to their own interests. This means that the voting power of the same account in different proposals is different. The voting power of an account on a proposal is determined by the degree of interest relevance between the account and the proposal.

This concept can be examined in three parts: Proposals, Voting, and Arbitration.

EPK DAO

We will introduce the EPK DAO in three parts: Proposal, Voting, and Arbitration.

Proposals

Anyone can burn 99 $AIEPK to submit a proposal. A proposal can only be submitted on certain topics and only using an existing template. There cannot be two proposals based on the same template at the same time. Each proposal has a 5-day voting period. If the proposal is approved, there will be a 3-day announcement period for the results before the proposal takes effect.

A template example

Sets the minimum number of votes required to elect and activate a domain expert. The default number is 100,000 votes.

Votes

All templates in the EPK DAO are divided into three types according to the scope of interest: referendum proposals, storage proposals, and expert proposals.

Referendum proposals are concerned with the interests of all token holders. The proposal will have an impact on the supply and consumption of tokens circulating in the network. When that is the case, all token holders can vote.

A template of referendum proposals

Set the number of safety collateral. Default is 1,000.

In a referendum proposal, according to the principle of interest relevance, each token holder's voting power is equal to the number of $AIEPK they have locked up in the EPK DAO. The locked $AIEPK can be unlocked 90 days after submitting the withdrawal request. $AIEPK tokens that are under the process of being unlocked do not have voting power.

Storage proposals are only relevant to the interests of all knowledge nodes. Such a proposal would only change the income gap between the various knowledge nodes.

A template of storage proposals

Set the maximum number of nodes that can get double mining power by storing new files. Default is 100.

In a storage proposal, according to the principle of interest relevance, the voting power of each knowledge node is equal to its raw mining power. If a knowledge node is one of the first 100 nodes to store new data and its mining power for an 8MiB file is doubled, even though its total mining power increases by 16MiB, its raw mining power only increases by 8MiB.

Expert proposals are proposals that are exclusively relevant to domain experts.

A template of expert proposals

Blacklist a domain expert with malicious behavior.

In a expert proposal, according to the principle of interest relevance, each domain expert has one vote.

Arbitration

Voters can change their vote within the 5-day voting period for proposals. To prevent proposals from being approved without full discussion, the EPK DAO sets two arbitration conditions for each proposal.

• The (quorum) minimum number of voters taking part should be more than 33%.

• The support should be more than 50%.

Proposals that meet the above two conditions will be automatically approved for implementation after the 3-day publicity period ends.

Summary

The goal of the EPK DAO is to continuously correct the resource mismatch in the community so that newly released $AIEPK can be used in the most valuable place during the course of the next 50 years.