AMKT DAO Working Constitution
The AMKT DAO is responsible for creating and maintaining the AMKT Benchmark, a benchmark tracking the crypto-asset market. The DAO is composed of two bodies – the holders of the first implementation of the Benchmark (the AMKT Token), and a set of AMKT Governance Stewards.
The AMKT Governance Stewards are a group of value-aligned individuals from throughout the crypto ecosystem. They have the following responsibilities that are expanded on in other sections of the working constitution.
- Owning the smart contracts for the first implementation of the AMKT Benchmark, the AMKT Token
- Working in tandem with the AMKT Token holders to judge assets for fit within the AMKT Asset Universe
- Working in tandem with the AMKT Token holders to draft and adopt a Bedrock Constitution
The AMKT DAO has a set of guidelines and procedures for the conception, voting, and execution of new governance proposals. See the Asset Universe Update Process for more detailed information about how these work.
The DAO chooses a Service Entity to carry out tasks for which a legal entity is required.
The DAO's chosen service is Battery Labs, which will perform the following example functions related to the index on behalf of the Alongside DAO:
1. KYC-related activities
2. Holding the institutional custodian accounts
3. Operating front-ends
4. Coordinating auditing functions
Transferring tokens to some addresses may be prohibited by the laws of relevant jurisdictions. As part of their role in administering the smart contracts, Stewards can restrict transfers of AMKT to and from those addresses to comply with any jurisdictions they deem relevant.
This Working Constitution is an intentionally transitory document. This version of the constitution will remain in effect for no more than three years. We hope the AMKT DAO adopts a Bedrock Constitution within that time. There are still many lessons to be learned about how to ensure a vision is stably carried forward in the face of changing times. We may need to update our procedures along the way.
Any verified AMKT Token holder can propose a new Bedrock Constitution. If the proposal reaches a 10% quorum, the Governance Stewards will consider it for adoption. To reduce the chance of gridlock, a Bedrock Constitution proposed by a majority of Governance Stewards will pass by default unless a 10% quorum of AMKT supply opposes it.