7.4 Governance

Progressive decentralization and conviction voting are two pillars of SynesisDAO governance. Jesse Walden at a16z created a useful playbook for how developers can move from focused development and rapid iteration to community participation and ownership, while avoiding the twin pitfalls of early token distribution (which risks regulatory scrutiny) or not decentralizing enough (what Jesse calls ‘exit to the community’). [i] Synesis One team will progressively decentralize in stages:

1. Find product / market fit

2. Community Participation: forge connections between developers and community

3. Exit to the community: transition from product group control to community ownership

Key takeaway: do it one step at a time. Taking one step further toward radical simplification, our approach to progressively decentralizing governance boils down to this: follow the money.

No DAO will be autonomous without attaining the ability to pay people to get stuff done. And reaching financial sustainability requires razor-sharp focus on making money. Highly centralized decision making by motivated startup founding teams speed up execution, interaction for product/market fit to reach profitability. Unless C > D for the treasury over a 12-month period (refer to Figure 25: Primary Sources of Income and Expense for SynesisDAO Treasury), SynesisDAO community vote system will not officially launch. The founding team will singularly focus on achieving financial sustainability.

Also, our approach is to nurture a participatory community by delivering the best possible wealth creation opportunity for stakeholders. They must feel their earning’s potential being drastically enhanced if they join SynesisDAO and participate. Among the first and most important community decisions made by SynesisDAO will be the release of a new collection of Kanons. Only the voters will receive special buyer privileges during the new Kanon collection minting event.

On conviction voting, simply put, if you want to vote, the total value of SNS and Kanon in your wallet must be equal or greater than ASV, (Average Synesis Value per Connected Wallet) over the trailing 180 days.

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[i] Walden, Jesse. “Progressive Decentralization: A Playbook for Building Crypto Applications.” Andreessen Horowitz, August 2, 2020. https://a16z.com/2020/01/09/progressive-decentralization-crypto-product-management/.