Dear Community,
Thank you for your patience as we developed a Homeward Bound sDAO signaling proposal for your consideration.
- Charter Background
Blockchain and crypto are still a new and rapidly changing technology. Industry-wide business model innovation and proven sustainable viability are yet to be determined. As the crypto industry prepares for another bull market, we acknowledge that market sentiment has changed significantly from Andromeda Founding, White, and Tokenomics Paper publications. Enterprise adoption of blockchain and crypto is showing signs of mainstream usage, followed by regulatory ETF approvals, both Party’s Presidential campaigns’ recognition of the crypto industry and investor, analyst, and retail sentiment continue to seek trustworthy and stable projects and conditions.
Following similar historical business market trends, as technology evolves and proves usefulness through business model innovation, market forces influence industries toward consolidation around proven, stable, and predictable value creation models.
Currently, the crypto industry requires four critical elements for a public project to survive and thrive:
- Community Trust
- A sustainable business model (PMF/Adoption)
- Large enough usage to power, business mode, growth, and scale
- Unique value creation
Community.
Unfortunately, Andromeda community trust is low and trending lower. Through the deployment of sDAO structures, answerable to the Community on matters of public concern, the authors hope to reignite a sense of shared community purpose and trust.
Business Model.
PMF has not been established, and mainstream adoption has not occurred, yet technological development has been moving steadily forward toward these goals. The current tokenomics model may require adjustment to align with technology adoption, market acceptance, sentiment trends and economic viability. Continued development, coupled with a potential migration, will be informative as to the necessity and extent of such changes.
Usage.
Although aOS is integrated with 12 Cosmos chains, usage is low, pre-revenue, and has not yet proven its “open source driven” innovation thesis.
Unique Value Creation.
Historically, once proven and adopted (like Microsoft Windows did with their forced mainstream adoption IBM OEM distribution model that saturated a large market (with “just good enough software”), operating systems can prove to be the turning point in defining explosive market alignment and growth. We believe that aOS, within the “optimum market environment”, has the potential to be that catalyst for Web3.
There are a few L1 projects (using the Microsoft example) that, although relatively young in a business sense, are leading industry product-to-market fit (PMF), vibrant communities, developer activity, and adequate economic activity candidates that might provide the needed environment for aOS to be the next operating system to unify a new industry.
Amid this shifting landscape, the Andromeda Community has proposed that a migration to a new home chain might best capture the emerging opportunities to meet the foregoing challenges. It is in this context that this sub-DAO is being formed for the purpose of exploring the feasibility of the same.
- Purpose & Objectives
The purpose of the Homeward Bound sDAO is to discover, analyze, and explore “optimum market” business market opportunities for migrating the ANDR chain to other L1 chains to provide the best opportunity for aOS to prove the stated full capability of the first Web3 operating system. In doing so, the sDAO will assess the business and technological feasibility of a migration, consider all potential modes and varieties of a potential migration, and identify and communicate with potential home chains, evaluating each in terms of their business vision, cultural compatibility, usage, transactions, community involvement, developer numbers, willingness to support the aOS technical stack, availability of grants/strategic investment, and any other factors deemed relevant in analyzing this potential course of action.
The sDAO’s objective is to approach this potential transition thoughtfully, requiring possible financial backing from a new host chain, however, it would present several significant advantages for ANDR Holders:
- Funding:. supplemental grant or strategic investment
- Cost Efficiency: Reduction in operational expenses and bandwidth requirements for the core team, extending project viability.
- Enhanced Tokenomics: Elimination of the need for validators decreases network costs and enhances flexibility.
- Improved Security: Maintenance of chain security by the dedicated development team of the new host chain.
- Development Efficiency: Streamlined development focus exclusively on aOS, facilitating faster implementation of planned features like sANDR.
- Liquidity Opportunities: Access to an enhanced liquidity environment through a DEX on the new host chain.
- Marketing and Financial Support: Potential partnerships with a “new host chain” offer marketing exposure and financial backing to support the project’s valuation and sustainability.
While some intermediate technical steps may be necessary, these considerations would be addressed by key contributors to the chain.
Summary of Proposed Home Chain Transition:
- Continue/Initiate discussions/tender process for migrating aOS from Andromeda Chain to a new Host Chain within or outside of the Cosmos Ecosystem.
- Potential partners could include Injective, Neutron, Solana, Celestia, and THORchain, among others. Examples of similar transitions include Mars to Injective and Kujira to THORchain.
- Following migration, the Andromeda chain would be archived and discontinued.
- Validator services would not be required, with staking activities transitioning to the host chain
This sDAO shall be formed effective October 15, 2024, and shall expire by its terms on January 15, 2025, unless it is extended by majority vote of the Andromeda Community.
- Responsibilities
The primary responsibilities of this sDAO are to determine whether there are any viable options for Andromeda and aOS to migrate to a new home chain, inform the community of its findings and, if appropriate, make a recommendation to the community as to the best option moving forward. Subject to and in service of these primary responsibility, the sDAO shall be responsible to undertake examination and analysis of a variety of potential “homes,” to include, without limitation, Injective, Solana, Thorchain, Celestia, Neutron, and others; to determine technical and financial viability for each potential home chain; to seek to build coalitions where appropriate with key leaders or executives at viable chains; to negotiate terms favorable to Andromeda, the Community, and the future vitality of aOS with such viable chains; to report back to the Community with options and recommendations for next steps.
The sDAO shall report to the Community at large on at least a monthly basis, and should provide more frequent updates as new information develops or options materialize. The sDAO may, at its option, elect officers or designate specific members for different purposes necessary or advantageous to executing the duties and responsibilities set forth in this Charter.
- Membership and Governance
The number of members of this sDAO shall initially be seven (7) and shall thereafter always be an odd number. Subject to approval of this Charter, the Homeward Bound sDAO will be initially led by a committee consisting of the following: Brendan Cooper and Mant Hawkins, Core Contributors, Joe Clemko and Nic Norton, Legal, Svansy, Community Member, and FauxFire, Advisor. The seventh member shall be chosen and voted upon by a minimum of a ⅔ affirmative vote of the initial members.
Given the short time frame during which this sDAO is to be in operation, it is not anticipated that appointment of additional members will be necessary. However, in the event any member withdraws from this role or the Community wishes to add or substitute members, such members shall be nominated and voted upon by the Andromeda Community through a simple signaling proposal and shall only be chosen from among Andromeda team members, community members, advisors, and validators, with such individuals to be identified in the given signaling proposal. In order for new members to be added to this sDAO, an affirmative vote of a simple majority of the Community shall be required. Potential members should include strong business or tech understanding (both is preferred), legal perspective, solid/demonstrable connections to potential home chains, or experience with other migrations.
Any member may resign/withdraw from membership at any time. Members may also be removed by the council at-large, upon at least a ⅔ vote of the remaining members, which vote shall be proposed in the manner set forth below.
- Voting Mechanisms
Each member of the sDAO council shall have one vote, which vote shall be weighted equally with the votes of every other council member. No member may, at any time, grant any right of proxy or otherwise assign his or her vote to another member. Any member may put an item up for a vote to the entire council at any time, with the timeframe specified for casting votes in such proposal, which time frame shall be no less than 24 hours unless held in a formal meeting at which a quorum (defined as at least 70% of all sDAO members) is present and available for a live vote. In the event of a vote proposal that is not live, no action shall be taken and the results shall be deemed inconclusive unless at least 70% of the sDAO members cast a vote during the voting period. All votes within the Homeward Bound sDAO shall be decided by a simple majority vote.
In the event the sDAO council is unable to reach a simple majority consensus with regard to which recommendations to advance to the Community, the sDAO shall still make its report, along with all viable options, to the Community and may, at the individual members’ option, designate which options were preferable to each member.
- Funding & Treasury
The Homeward Bound sDAO will be funded via a contribution of 30,000 USDC from Andromeda, with such funds to be used for travel-related expenses necessary to facilitate discussions and negotiations with potential home chains. These funds may also be used for other expenses related to the purpose of this sDAO, if approved by majority vote of the sDAO council. Funds for the sDAO shall be retained in a multi-signature wallet requiring at least three sDAO council members to sign any transactions. At the expiration of the sDAO term, unless such term is extended by Community vote, any unused funds will be returned to Andromeda.
- Conflict Resolution & Dispute Handling
Disputes between the members of the sDAO will be resolved internally according to the regular voting procedures set forth herein. In the event resolution is impossible under such rules, any disputes may be submitted to the Andromeda Community for resolution by the then-current voting mechanisms in force there.
- Amendments & Updates
This Charter may be amended or updated only: (1) by majority vote of the sDAO members, confirmed by majority Community DAO vote, or (2) by 75% Community DAO vote.