AMKT-IP-1: Amending the Working Constitution

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:


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.


AMKT Holders craft an AMKT Proposal – a detailed proposal of changes they intend to make to the Working Constitution.


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.


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.


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.


I’m in support of this proposal. Thanks for sharing this Coconut.


All for giving AMKT holders more of a say over these kinds of decisions. Thanks for the thoughtful proposal!

1 Like

Thanks for the thoughtful proposal

The proposal seems to be a positive step towards promoting increased community governance and transparency within the AMKT DAO. It empowers AMKT DAO members to have a say in the governance process and ensures that any proposed amendments to the Working Constitution are subject to review and approval by the community. The proposal also provides clear guidelines and procedures for proposing and implementing amendments, which should help to ensure that the process is transparent and fair. :slight_smile:

It is normal when a person who owns something can influence and participate in the events that occur with the object of his possession. I fully support this initiative.