Description of Proposal
In the interest of promoting increased community governance, I’m proposing to amend the Working Constitution to permit AMKT DAO members to submit proposed amendments to the Working Constitution for consideration by the AMKT DAO community. Currently, there is no formal mechanism for amending the Working Constitution. The AMKT governance stewards are responsible for working with the AMKT DAO to implement the Working Constitution and the AMKT smart contract, and these responsibilities may entail amending the Working Constitution. As part of that process, AMKT DAO members may create governance proposals to include or exclude an asset from the AMKT Asset Universe. There is not currently a procedure in the Working Constitution, however, by which AMKT DAO members may propose amendments to the Working Constitution.
Under this proposal, any verified AMKT holder may propose an amendment to the Working Constitution, which may be voted upon by any verified AMKT holder. If a 1% quorum of AMKT token supply votes to adopt a proposal before the proposal expires, and the AMKT Governance Stewards believe that the proposal does not violate the spirit of the Working Constitution, the proposed amendment will be adopted and the Working Constitution will be amended accordingly. If the AMKT Token holders disagree with the proposed amendment, then they can create governance proposals to signal that.
I’m also proposing to amend the Working Constitution to explicitly permit the governance stewards to amend the Working Constitution. Under this proposal, a majority of the current governance stewards may propose an amendment to the Working Constitution. The proposed amendment will be submitted to the AMKT DAO community for review, and shall be implemented by the governance stewards within an appropriate time following the publication of that amendment as determined by the governance stewards.
Process for AMKT DAO Members to Propose Amendment to the Working Constitution
The process by which a properly-verified AMKT DAO member may propose an amendment to the Working Constitution consists of the following distinct steps:
Discussion
AMKT Holders discuss changes they would like to make to the Working Constitution with other members of the AMKT community.
Temperature Check
Optionally, AMKT Holders create an informal 'temperature check,’ A temperature check is a discussion where AMKT Holders can gauge the DAO Members’ appetite for changes before formally crafting a proposal to vote on them.
Proposal
AMKT Holders craft an AMKT Proposal – a detailed proposal of changes they intend to make to the Working Constitution.
Vote
The proposal is voted on by verified AMKT Holders through Snapshot. There must be a quorum of AMKT Holders, representing 1% of all circulating AMKT supply, for a vote on a proposed amendment to be valid.
Interpretation
If quorum is achieved and the proposed amendment is passed by a majority of participating AMKT holders, the proposal is submitted to, and interpreted by, the governance stewards for constitutionality.
Implementation
If a majority of the Governance Stewards determine that the proposed amendment is consistent with the Working Constitution, the Governance Stewards shall implement the proposed amendment. The Governance Stewards retain discretion to determine the timing of such implementation and whether it is reasonable and appropriate to impose any changes or conditions on the proposed amendment as part of the implementation process.
