CREDS - Governance Upgrade

We are in the process of finalizing a governance upgrade entitled CREDS that will enfranchise a wider swath of our community as DAO voters based on the principle that governance power is earned through reputation and cannot be bought. This expands on the existing 1-person-1-vote (1P1V) system. Under the new governance system, voters will have to acquire Citizenship. Implementation of CREDS requires DAO approval; the vote is expected to take place in May or June 2024.

The core of the upgrade is enabling verified credentials that dynamically reflect a Citizen’s reputation in the network such that:

• Contributions to the DAO are recognized via a new set of BuilderCredentials (maintaining the existing 1-person-1-vote system within a "Builder House")

• Contributions of productive capital staked in the network are recognized via a new set of StakerCredentials (within a new stake-weighted "Staker House"), which will grant voting power to people who run Nodes and Gateways and to wPOKT liquidity providers

• These two Houses are balanced through the HouseWeights parameter, which is set to 80% Builders / 20% Stakers.

Additionally, Gitcoin Passport is being introduced as a Proof of Personhood that reinforces our democratic 1-person-1-vote system and enfranchises DAO anons without them needing to be doxxed.