DAO

Purpose

The purpose of the DAO is to curate the website. Since the site will be decentralized, all censorship will be the responsibility of the DAO. There are posts that could be illegal such as child pornography and links to illegal websites, etc. We hope the DAO will be effective in voting to have these types of posts deleted. There may arise occasions where the DAO votes to remove posts it believes to be offensive, misinformation or just bad for the platform. There are no plans to moderate what can and cannot be voted upon.

What can we vote on?

The DAO can vote on any change to BlockIt that has a function in the smart contract or vote on a developer to make the change. BlockIt is open source so any member of the community can create a function, purpose a merge on github and have the community vote to implement the changes through the DAO.

This includes deleting a post/comment/user, reinstating a post/comment/user, changing the cost of an interaction, changing the inflation/rewards, changing the algorithm behind something,

Votes

The number of votes a user gets in the DAO is based off of the number of comments, posts and tokens they have as well as the weight of their profile. Each comment and post will have a weight itself based on how well it scored. They are also NFTs so they can be traded to someone who wishes to have a higher influence in the DAO. This is another way a user can earn by selling a successful post to another user who wishes to have a vote in the DAO.

What happens after a vote?

After a vote there will be a bounty to make the action happen. The price of the bounty depends on the results of the vote and how many votes took place. If say 90% of votes were for a post to be deleted and 90% of users participated in the vote, then the bounty to take the post down will be very cheap, so that anyone can instigate it. However, if the vote was split and only 50% of users were for it then it will be expensive. Even if all users were against a vote or no users participated in a vote, there will still be a bounty that can be bought. The price just may be incredibly expensive or possibly impossible to buy if there are not enough tokens in existence. The reason for this is that there may arise an occasion where a user has gained too much influence on the vote and therefore the community will have to enact changes with their wallet instead of votes in the DAO.