The Free Internet Foundation will be operated in the form of DAO. We believe that DAO is a more advanced form of organization, protecting everyone's interests and giving full play to the power of the community.
We are discussing the design of the Free Internet DAO vigorously and have achieved some progress,however found that it is never a simple matter to determine all the rules and details of FI DAO. So, we need the visdom of community to improve it together. We hope the final presented FI DAO could solve the following five problems:1. Support the foundation's basic financial model with simple rules
The two main tasks of the foundation are to raise money and invest money. We hope to use the DAO to make these two things more democratic, open, transparent, reasonable and safe. The rules should be as simple as possible so that more people are willing to participate in and take into account the efficiency.2. Full life cycle support for incubated projects
We hope that the foundation can incubate truly high-quality free Internet projects. However,we also need mechanisms to avoid or decrease loss for projects that are not so high-quality or fraudulent.3. Integrate with the new, infectious open source license
Similar to the GPL license, we hope products hatched by the Free Internet Foundation should also follow the requirements of free internet and operate in the form of DAO and continue to pass on the idea of free Internet. Products using these products should also have the above characteristics.4. Let product users to participate in after the project goes live
We hope users of the product can also participate in the construction of the Free Internet after the free internet project is launched for they are also part of the Free Internet community.5. Keep balance between old contributors and new generations after the project becomes mature
we hope to design a mechanism that can continuously stimulate the enthusiasm of new contributors, so that those who are making huge contributions can get their due rewards, instead of letting the old ones who no longer contribute always get most of the benefits , doing harm to the development of the entire community.
1. Anyone (users, investors, developers) can stake cryoto currency to get FI token. The staked crypto currency is "lent" to the foundation for use. FI DAO will set a reasonable margin ratio to ensure that everyone can withdraw freely.
2. Committee members are voted by FI token holders, with a total of 9 seats. (candidates need to stake a certain amount of FI tokens). The committee is re-elected every 18 months while the same person can serve as a committee member for up to 7 periods. During the term, the community can have a referendum, and more than 2/3 of FI token can re-elect members at any time.
3.Committee members can "safely" make regular proposals:
a. a. Revise the list of official free internet projects (we are calling for the first batch of project proposals)
b. Approve the budget of proposals, and use the crypto currency staked to fund them.
Members of the committee are assigned to different positions to make professional proposals. The proposal was voted on by the committee and passed by more than 2/3.
4.Anyone can build a project and apply to be accepted to the official free internet project list after staking a certain amount FI tokens. The additional issuance of FI tokens will be triggered after new projects are incubated, and new tokens will be given to new projects in order to stimulate the enthusiasm of new project developers. The logic of the additional issuance is that the completion of the project can increase fee income of FI DAO, and the failure of the project will reduce everyone's share. (There will be a strong resistance from conservatives to support new projects, and this interest may make everyone really cautious do select projects). The specific bof additional issuance and how to allocate additional issued tokens require further community discussion and decision.
5.The development of existing projects will also trigger additional issuance of FI token. Continued additional issuance of FI token will dilute the share of early core contributors, letting the core contributors in the last 18 months get better short-term rewards. The specific amount of additional issuance and how to allocate additional issued tokens require further community discussion and decision. One point of our current design is that FIs which vote for or invest in the project will receive a portion of the FI in the additional issuance.
6.Staking FI Token following the rules can participate in FI dividends. FI's profit sources include
a.Handling fee (requires the project to bring the project id when generating TX)
b.Domain Name Transaction
7.Users can stake FI token/project token to make requests for the project and directly get rewards after the requests being accepted and developed by the project party.
We want Free Internet Projects to operate in the form of DAO as well. We will provide several DAO templates to be chosen. Here are some of the functions that we think the project DAO should offer. The complete design and details need to be further discussed and decided by the community.
8.the developer can be rewarded with various tokens after participating in the development of the version plan and submitting actual code.
9.Developer's commit will be his own NFT, and the project official can regularly select some important commits to be auctioned, bringing more benefits to developers.