Commitment Schedule
Dynamic Capital Call Schedules
We understand that not everyone can or is willing to front-up the full commitment in 1 go. With this in mind we have built mechanisms to allow for custom commitment schedules. Defined when the DAO contracts are deployed*, this allows the deployer to make a commitment schedule that will allow the most flexibility for their audience.
For example, the DAO deployer decides that they want a significant commitment up-front which tapers off over the life of the DAO and wants the commitment every 6 months. In this case their call schedule percentages would looking something like this:
Example 1:
Schedule percentages: [60, 30, 10]
Time between commitment calls: 6 months
Time to honour the calls: 1 month
Then there may be others that just want a steady stream over a longer period, but it more lenient on when members honour the call, i.e.:
Example 2:
Schedule percentages: [20, 20, 20, 20, 20]
Time between commitment calls: 5 months
Time to honour the call: 4 months
DAO contracts are initialised with all their respective variables on deployment, this also encapsulates the commitment schedule.
Process
Once enough time has elapsed, any member of the DAO can start the call to honour the next round of commitments (the only exception being the first commitment, which is honoured on joining).
Once the call has been made, members then acknowledge the call, based off their commitment, that rounds percentage of that commitment will be removed from the users wallet and into the capital vault.
Using Example 1 as a use case, lets say the second round has been called, the user now has 1 month to honour 30% of their commitment.
Slashing
If a member fails to honour the call within the deadline, the member may be subject to getting slashed.* This follows the same voting process as all other proposals, upon the proposal being successfully processed, the user is penalised by having their shares slashed proportionally to that particular commitment call percentage + a bonus penalty that is defined on contract deployment. Members who are slashed will have the status of Slashed in this particular call schedule status.
If a member honours the call prior to the slash vote being processed, they will not be penalised.
Pardoning
Should a member fall on hard times or is unable to commit as they were before. Members of the DAO are able to show sympathy by pardoning the member, the functionality is almost identical to slashing, however members are not penalised, and they are able to honour the call later if they choose to do so. Members who are pardoned will have the status of Pardoned in this particular call schedule status.
Last updated