For a Traditional Corporate Structure:

  1. The Council of Elders must act in the best interest of the DAO and its members.
  2. The Council must follow all applicable laws and regulations.
  3. The Council must assist in hiring of C Level positions and oversee the company, to advise the CEO and other executives, and ensure they are fulfilling their duties.
  4. The Council must oversee the development and implementation of the DAO's code and smart contracts.
  5. The Council must facilitate a community quorum when voting on all major decisions such as mergers, acquisitions, partnerships and changes to the DAO's code.
  6. The Council must establish and review the company's strategic plan and annual budget.
  7. The Council must maintain accurate records and ensure the company is transparent with its financial reporting.
  8. The Council must ensure the DAO is transparent with its financial reporting and member participation.
  9. The Council must hold regular meetings and keep accurate minutes.
  10. The Council must ensure that the company is adequately insured and has proper risk management procedures in place.
  11. The Council must establish and maintain a clear and transparent process for member voting and decision-making.
  12. The Council must ensure that the DAO's code and governance structures are open and accessible to all members, and that members are able to propose changes and improvements to the DAO's code and governance structures.

Quarterly Ceremonies