Community Coins: The Heart of Collective Governance
In line with our commitment to community-driven growth and development, we're excited to introduce Community Coins— a transformative feature designed to empower our members in shaping the future of Arc Nova Studios. As someone who has delved deep into the intricacies of Decentralized Autonomous Organizations (DAOs) through my Bachelor's Thesis, I appreciate the power and importance of governance models. While we plan to transition to on-chain governance systems in the long term, our first step towards that future is a simpler form of community governance on our Discord Server.
What are Community Coins?
Community Coins are not owned by individuals but belong to the collective Arc Nova community. These coins act as a governance token of sorts, allowing the community to participate in decision-making processes that influence the ecosystem.
You can earn them by solving Community Challenges and reaching specific Milestones.
How Does It Work?
The general principle behind Community Coins is "everything can, nothing must." Essentially, Community Coins can be spent on various upgrades and features, but it's entirely up to the community to decide where these coins are allocated. Members discuss and negotiate different options, and come up with proposals to the Team, if we agree, the proposal will be up for a community vote.
You should structure your proposals like this:
We want: X
We offer: Y number of Community Coins
What Can Community Coins Be Spent On?
The possibilities are broad and meant to be expansive, adapting as we grow. Initial categories include but are not limited to:
Chat Income Upgrades: Levels 1 through 10 that elevate the income everyone receives for being active on our Discord server.
Chat XP Upgrades: Levels 1 through 10 that increase the XP gained for Discord activity.
Zealy Quest Upgrades: Improve the rewards for quests on our Zealy platform. The community can even select which quests are eligible for these upgrades.
Role Income Upgrades: The income of EVERY Role can be upgraded.
Number of WL Spots: You can increase the number of available WL Spots per Tier.
Materials:
Refill: Use Community Coins to refill empty materials in the store.
Max Capacity Increase: Increase the upper limit of specific materials.
Refill Rate: Boost the rate at which certain materials are replenished.
Governance and Voting
Open dialogue and transparent decision-making are key. After the community and Arc Nova's team have negotiated and agreed upon how to use the Community Coins, the proposals will be subjected to a vote. Initially, the system will operate on a "one member, one vote" basis, but we plan to experiment with different voting mechanisms over time to best suit our governance model.
By employing Community Coins, we don't just make the ecosystem more dynamic; we give each member a stake in that dynamism, a voice in that conversation, and a vote in that future. This is a significant step towards actualizing our belief in a truly community-driven platform.
Last updated