Although the Constitution shall be in effect upon the incorporation of this DAO, the contents are subject to change at the behest of the Administrative Leadership team until one of the following two thresholds are met. 

Constitution Lock: 

• Should more than 10bn GST be in circulation; or 
• Up until midnight BST on April 22nd, 2035. 

Any such additions or amendments made to the Constitution prior to the requirements above being met cannot be in contradiction to the ”special purpose” of this DAO and must be made in good faith in pursuit of achieving this DAO’s mission. The rationale behind leaving this open to change are firstly, to ensure no existing procedures or provisions have a negative impact on the DAO; secondly, to enable additional necessary governance procedures to be implemented quickly; and thirdly, to reduce the risk of a single external party from gaining control of this DAO and acting in a way that’s detrimental to its success in its early stages. 

Voting protocols 

For the specific requirements of any vote, please view the GST DAO Constitution. 

The voting protocols set out in this section are solely applicable to DAO members, in order to be a member one must hold at least one GST. 

Many of our protocols take the one vote per member (initially per wallet) approach rather than one vote per token – the rationale here is to avoid a system of governance whereby voting power is disproportionate and open to the impact of bad actors. GST DAO will use four voting protocols depending on the particular application or impact of a vote.

One: Positive Majority Protocol (PMP) 

This protocol will be used for important constitutional and electoral decisions. In order for the outcome of such voting procedures to be considered legitimate and democratic either a majority of voters or a majority of members will be required to vote for a specific outcome or DAO decision.

• Enables an action 
• A set percentage of the total DAO membership must vote for a specific outcome; Or 
• A set percentage of those members who voted must vote for a specific outcome
• 1-person-1-vote protocol (initially 1-wallet-1-vote) 
• Majority requirements vary 

Two: Token Voting Protocol (TVP) 

The TVP is used where it is logical for the voting outcome to be weighted in favour of how many tokens make a specific decision. This will generally be used for financial decisions and may also be used in collaboration with other voting protocols for governance decisions whereby the outcome must be beyond doubt the long-term directive of the DAO. 

• May enable or prevent an action 
• 1-token-1-vote approach
• Majority requirements vary 

Three: Veto Protocol (VP)

The purpose of this protocol is to enable the administrators of this DAO to operate and function without requiring express member permissions via the PMP. In instances where it would prove impractical to require an active vote for a specific action or outcome the VP will be used – members must be given sufficient time and notice to enforce the VP. 

• Prevents an action 
• A set percentage of the total DAO membership must veto a specific action; Or 
• A set percentage of those members who voted must veto a specific action
• 1-person-1-vote or 1-token-1-vote may be applicable 
• Majority requirements vary 

Four: Project Raise Protocol (PRP) 

This protocol is specific to acquiring land via crowdfunding project raises, as related to specific parcels of land. This voting protocol simply requires sufficient funds or one-hundred percent of the raise to be pledged towards the acquisition of a particular parcel of land. This is considered as DAO permission to acquire said land. 

• Enables an action 
• 1-token-1-vote approach 
• 100% of a raise must be satisfied 
• Majority requirement – not applicable 

*There may currently be certain technology restrictions with regards to the methods outlined below.