Become a member
Table of contents
Becoming a DAO member
To participate in the EffectDAO you must fist become a member. This can be done by signing the constitution on the Effect Dashboard. As a member you will be able to post new proposals to the DAO and vote on existing proposals.
The constitution
The constitution is a set of rules that binds all members of the DAO. When you sign the constitution your signature is stored on the blockchain which shows you’re a member. The latest version of the constitution can be found here. If the constitution is updated in a significant way it’s required to re-sign it from the dashboard.
Vote weight
Ranks are no longer part of EffectDAO after the implementation of Propsosal 22.
Your vote weight is determined by your staked NFX and EFX Power:
Vote weight = Minimum(Staked NFX , EFX Power / 20)
Guardians
A Guardian is a DAO member that can vote on proposals. Guardian play an important role in the EffectDAO. This comes with the advantage of receiving rewards in the form of network fees. The specifics on how the rewards are accumulated and distributed will be discussed in a future chapter.
To become a Guardian you must have at least 1 vote: 1 staked NFX and 20 EFX Power.
Commitments
Once the EffectDAO Phase 1 is launched it’s important for Guardians to stay in tune with the voting cycles and changes in the regulations. It’s highly recommended to keep an eye on the Discord server.
High Guard
The High Guard is an elected group of Guardians that act as a safe guard before executing proposals. That have to approve every proposal that is voted in by the Guardians and have the ability to execute Special Resolutions to make adjustments to the DAO. This is a security measure to make sure that the DAO won’t be harmed by unknown sources in its early stages.