The genesis of the BattleVerse project was a desire to make a collectible NFT game that was open, transparent, and governed by the community. Here we outline the mechanism by which the community of $BVC holders will govern and maintain the protocol, via the BattleVerseCouncil, and what types of changes can be proposed.
To elect council members, holders of $BVC have the ability to nominate an individual for a council seat as well as delegate their vote to a nominee. Candidates for council members must be proposed before the due date of the event, followed by a formal voting period. The mvDAO will then collate all proposed members from the BattleVerse Voting Channel and calculate results.
(The "mvDAO" is our initial governance model and is subject to change. We strive to implement the best models of decentralised governance).
This mechanism will be utilised to reduce the voting power of large $BVC holders and reduce plutocracy. This system is used successfully by a number of other protocols and used within Grants and we believe it is the fairest way to weight votes.
There are two major components of the new governance system:
The BattleVerseCouncil will consist of nominees who are voted in by the $BVC token holders, enabling the influence of community representatives who are able to debate and distill technical changes while also not directly providing large $BVC holders a disproportionate voting weight in the outcome of proposals.
There will be situations where changes to the $BVC council will need to be decided. Any meta-governance proposals will need to be unanimously decided.