As we travel deeper into DeFi space, we’ve already discovered a huge amount of prizes, pots, and mysterious NFTs along the way. But just like the USS Enterprise needs a United Federation of Planets, so too does the Moonpot spaceship. That’s right Cadets, it’s time to talk about Governance.

As a young project, we’ve taken direction so far from our core team of marketers, developers, and DeFi scientists at Mission Control. However, it’s always been in our plan to turn Moonpot into a full-fledged Decentralized Autonomous Organization (DAO). You can see this also in our Q4 roadmap, and we’ve waited until we’ve got the tech right.

You might already be familiar with the concept from Beefy Finance. If not, then a DAO is simply an organization that is run via a decision-making process by its members.

What will the DAO look like?

The implementation of the DAO will be a gradual process. At first, only the core team will be able to make proposals for the Moonpot community to vote on. We’re always on the lookout for commonly requested changes and we will continue to translate these into DAO proposals. Make sure to continue to voice your feedback in Telegram and Discord and we will listen.

Your voting power on the governance proposals will be determined by the number of single asset $POTS tokens you have staked on the platform, as a proportion of the total amount staked. We’ll cover this more later. We want to make sure we get the change to a DAO right, so the key is that we start slowly.

We will also be bringing DAO voting to the Community Battles so that they will become a mix of Twitter and DAO voting.

Where will DAO voting be implemented?

A new voting section will be available for Cadets to take part in our proposals. You can find this on Moonpot.com or vote.moonpot.com directly.

What will the DAO vote on?

As we mentioned, we will at first take proposals from commonly requested topics on Discord and Telegram. Our first vote, however, will be on the frequency and number of winners of Ziggy’s Pot.

Coming up soon, we will also have a vote on the number of bonus POTS released on our Moonpots across the platform.

How do I take part in the DAO?

Before each proposal, there will be a snapshot taken of Ziggy’s Pot and the NFT Pot.

The number of $POTS you have staked at the time of the snapshot will determine the voting power you have. Like the Beefy DAO, $POTS in liquidity pools will not count towards your voting power.

Next, head to vote.moonpot.com to see the proposals available to vote on. As the topics are currently put forward by the core team, we will follow through on whatever the outcome of the vote is and respect the results.

What’s the first vote?

The number of winners and frequency of Ziggy’s Pot has been a common topic of discussion, so we’ve chosen it as our first DAO vote. Here’s how it will look:

INTRODUCTION

This is the first-ever Moonpot DAO Governance vote for $POTS holders. The core team selected the topic due to feedback that changing the frequency of Ziggy’s Pot draws may make staking $POTS more attractive.

BACKGROUND

Ziggy’s Pot began as a monthly prize draw in August 2021. After suggestions from the community, we decided to reduce the draw to every two weeks. We thought that waiting one month per draw was too long.

However, we’ve received a lot of feedback that changing the draw frequency and the number of winners may be beneficial. Therefore, we’ve chosen this as the first topic for our DAO vote.

PROPOSALS

No change - 10 winners every 2 weeks

5 winners every week

5 winners every 2 weeks

3 big winners (25% each) and 25 small winners (1% each) every 2 weeks

What’s next for Moonpot?

The DAO isn’t the only big release we have coming up soon… Ziggy still has a few surprises up their sleeve. Before the end of the year, Cadets will be able to create profiles and take part in more Social Pots than ever before with their own dedicated UI.

Soon after, we’ll have a new round of Agility NFTs preparing for the Ziggyverse. And, perhaps most excitingly of all, Q1 2022 will see the creation of our Launch Pots for new projects looking to distribute their project tokens.