Almost 1 year ago @mkkoll kicked off a discussion on creating a constitution for the protocol. I want to re-start this discussion and hopefully bring it to conclusion.
My draft below pulls heavily from Mkkoll’s original ideas.
The purpose of the constitution is the following:
- The constitution should be a document that breaks out the vision and other foundational principles of the protocol.
- The constitution serves as the highest level north star guiding governance and strategy as the protocol and community grow.
- The constitution should be living but hard-to-change document that puts PoolTogether’s ethos into writing.
- The constitution should be ratified by POOL holders with any future changes ratified in the same way.
I’d love feedback both on the content as well as the structure itself.
Protocol Mission - Making the world wealthy
Protocol Vision - The decentralized global prize savings account run by POOL
PoolTogether is a prize savings protocol helping people build wealth. It does this by making saving money fun, accessible, and financially rewarding. The protocol is no loss and positive sum leaving everyone better off for using it.
Savings is a serious business. The protocol design optimizes for security of deposited funds. Perfect security can never be a guarantee but ensuring the “No Loss” mantra remains true is the highest goal.
The protocol is governed by the POOL token which has been freely distributed to users of the protocol. These token holders make up the heart of the community guiding and contributing to the mission of the protocol. POOL holders are tasked with stewarding the protocol making decisions for the long-term benefit of the protocol and its users.
The PoolTogether protocol is designed to live forever. The protocol follows the ethos of decentralized finance (DeFi) seeking to improve the financial system by replacing humans with immutable software. Control is as minimized as possible. Where control is needed, it is decentralized to the POOL token holders.
Open Source & Fair
The PoolTogether protocol is a set of smart contracts. The code is publicly available and open source for everyone to verify, validate, or adopt. It can be copied and re-used by anyone. It is globally accessible, provably fair, and free to use for anyone without permission