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Update dao-spec.md #17

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6 changes: 3 additions & 3 deletions src/Meiji/dao-spec.md
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Expand Up @@ -4,15 +4,15 @@ The Meiji DAO is Sushi's latest iteration, combining decentralized governace wit

## Overall Design

The Sushi Meiji DAO will be replacing legacy govnerance structures, and so to do this many adaptions will be needed.
The Sushi Meiji DAO replaces legacy governance structures.

## Description

### Membership

- Meiji DAO Contracts will allow entrance into the DAO by locking up SUSHI and granting shares according with `Shares granted = sqrt(SUSHI Locked up) / log(sqrt(Total Members))`
- Meiji DAO requires a lock-up of SUSHI for entrance -- subsequently granting shares as follows: `Shares granted = sqrt(SUSHI Locked up) / log(sqrt(Total Members))`
- An Initiation Period then begins after locking up SUSHI until you realize the voting power from the gained shares, of double the voting period.
- Each Member of the DAO will have a voting weight assosiated with them, an exile status (if they've been kicked out nulling their voting power), and a public key assosiated with their voting.
- Each Member of the DAO will have a voting weight associated with them, an exile status (if they've been kicked out nulling their voting power), and a public key assosiated with their voting.
- A vote can be started to exile a Member, requiring quroum and a 70% majority.
- Exiled members can leave claiming their SUSHI, but cannot rejoin.
- Ragequit will always be an option to forfeit voting power to claim underlying SUSHI
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