Leaderless Community Guilds — Patch Notes 20210630

What is the recipe for a good community? Is it utility? Is it entertainment? What happens when you have a pure leaderless guild? Will natural leaders rise to the equation? Today’s patch notes is more focusing on laying out some ground rules for future “Leaderless Community Guilds” and will serve as a baseline of topic for Telegram/Discord channels moving forward. We will announce 2 Leaderless Guilds later this week.

Structure

Crypto is a fun innovative place. With LootSwap, we have the pleasure to oversee some new ideas which have the potential to have a lasting impact on the Harmony Protocol. Community projects are awesome because their existence does not depend on a single entity. With the Guilds model, we can have a 100% community driven project while having the potential for some hybrid structure. These first “Leaderless Community Guilds” are likely to change even pre-launch. We welcome individuals to have an impact on the direction of these projects and the High Loot Council will merely be an executing authority while these communities are in their infancy. Even though they are pre-launch, we welcome the Arbiter’s Guild to take extra initiative and help oversee and structure these community guilds.

GUILD Rules

The Leaderless Guilds are a bit of a novelty idea and so there may be some tweaking that is necessary. LootSwap is not meant to control these guilds but rather to facilitate a safer environment for these Guilds to operate. These communities can potentially play a critical role for both LootSwap and the Harmony Protocol for driving adoption and increasing the utility in the network. Any changes to the Community Guilds, both pre and post launch, should focus on these topics:

• How to make the Community Guilds less risk for their respective communities
• How to make the Community Guilds less risk for LOOTers/LootSwap
• How to provide extra utility for the Community/LootSwap/Harmony Protocol
• How to protect the Community HODLers’ interest long term

Leaderless GUILDs — HLC Oversight

For these “Leaderless Community Guilds”, The High Loot Council will provide some oversight until the guilds can form a council. The High Loot Council will not be authorized to do any transaction that would cause more than a 2% price impact within a 24-hour window. The guilds have a minimum of 30 days to organize themselves and to make their own Guild Councils. Each guild will have 1 position available on the High Loot Council, but the nomination must be accepted through a GUILD<>LOOT LP vote. The Guild Council generally will follow this format:

• Minimum of 5 members on the Guild Council with 1 nominated to be the representative on the High Loot Council
• After 30 days, nominees for the Guild Council will be voted using a governance system
• After 60 days, if the Guild Council is not formed 50% of the Guild Treasuries will be burnt
• After 90 days, if the Guild Council is not formed 100% of the Guild Treasuries will be burnt until a council is formed.
• The Guild Treasuries (after Guild Council is formed) will be in a multisig safe utilizing 5 members from the High Loot Council with 5 members of the Guild Council. Approving transactions require 7/10 votes.
• Any changes to treasury rules require a 70% vote using Guild<>LOOT LP token vote.