CAIT GOVERNANCE (v1.2)

June 12, 2021

Google Form for making a proposal.

https://docs.google.com/forms/u/2/d/1fxTywtLcS9QBWgUMzi7xbz_cFiCiuKhMIZyJCh8rMF0/edit?fromCopyC=true

Sign up for future CAIT/CAIT-G Drops

To Get CAITG You can purchase off the market on AlcorSwap here:

CAITG has an initial price of 100 CAIT to 1 CAITG. This price will not be monitored by the CAIT team, it is an open market. There is a maximum supply of 125,000 CAITG. The utility of the token is only for CAIT Governance proposals. We are not assigning monetary value to the token. You shouldn’t either.

When CAITG is transferred to caitdao.gm those tokens are transferred back to caittokenres to be recirculated on AlcorSwap. This token will not be burned by the team due to the limited supply.

Your email address is recommended so that we can be in direct communication if something in your proposal is unclear. It is not required and is not going to be sold or used in any way other than for CAIT communication. If you wish to not include your email address please enter cait.wax@gmail.com

Introduction of Governance for CAIT

• Team Members and Official Partners can now table proposals to enable the action of new governance rules.

• At 125 verified wallets, we will open up the proposal action to the community. (Completed)

• A verified wallet is a wallet address that: a) has signed up for CAIT airdrops/LP Rewards, or b) has made a purchase of a CAIT-backed NFT or c) a user verified through another method.

• To see how many verified wallets we currently have click here

To make a proposal, 2 things must happen.

• You must fully complete the form assigned here

• You must transfer 10 CAITG to the caitdao.gm general fund with the memo titled: Governance Proposal kj2ay.wam (PLEASE PUT YOUR WALLET ADDRESS IN THE MEMO)

Upon approval by a vote of the majority of the CAIT team, we will then move to the general vote.

• Voting is weighted so that individuals matter more than gross holdings.

• Each wallet address is allowed one vote.

• Votes are backed by up to 10% of the proposal cost fee.

• Votes can be made using either CAIT or CAITG.

• CAIT sent to caitdao.gm will be used for Partnership payments, bonus airdrops, and increased LP Rewards.

• CAITG sent to caitdao.gm will be recirculated and redistributed through Alcor Swap and CAIT Airdrops.

• We recommend using CAITG to vote.

When voting you may send up to 100 CAIT or 1 CAITG to caitdao.gm. With a memo with the posted CAIT Governance Proposal Number and either a YES or a NO. This information will be posted on all sources of communication prior to a vote being held, specifically the Governance Page on the CAIT website and the CAIT Telegram Channels. If a proposal does not pass, the funds used for voting and for making the proposal get redistributed via multiple methods as described above.

A vote memo should look like this Memo: CGPN #1 YES

The proposal fee will rise up to 50 CAITG as the community grows, as will the maximum voting fee.

Scaling

• 0-250 Verified Wallets 10 CAITG (Completed)

• 251-1000 Verified Wallets 20 CAITG (Completed)

• 1001-5000 Verified Wallets 35 CAITG (Current)

• 5001+ Verified Wallets signed up, 50 CAITG

These specific numbers are always eligible to be changed via the same process.

Voting is public and on-chain.

To cast a vote, users will vote by sending CAIT or CAITG to caitdao.gm for yes votes, and no votes.

In order to be passed, the proposal must receive at least the proposal fee in votes. (Meaning a 10 yes vote minimum is required to pass a proposal)

This means that for a vote to pass at this current stage, the person that makes the proposal must find at least 9 other people who agree and are willing to vote with their CAIT or CAITG.

Each voter can vote with either CAIT or CAITG. In stage 1 the maximum amount of a vote will be 100 CAIT/1 CAITG. In stage 2 that would increase to 200 CAIT/2 CAITG. There is no minimum, but the votes will be counted proportionally.

A proposal does not need the extra 9 members in order to submit.

Successful Proposals are subject to final review by the current team and must be passed with a 50%+1 vote. This vote can be overturned via a second successful proposal using the same, exact wording. (Referendum style)

Direct changes to the governance system require one of two scenarios:

1. a quorum of eligible voters. (50%+1 of verified accounts)

2. In absence of a quorum of verified accounts and a successful vote, a unanimous decision by the Core Team, or the DAO Board.

Governance changes do not require backed votes. Meaning the cost to vote on governance is just the minimum amount that must be sent with a memo attached, 0.0001 CAIT

However, due to the near 0 voting cost on governance-specific proposals, the proposal fee is ten times the cost to cover the time that must be put into consideration of such changes.

• 0-250 Verified Wallets 100 CAITG (Completed)

• 251-1000 Verified Wallets 200 CAITG (Completed)

• 1001-5000 Verified Wallets 350 CAITG (Current)

• 5001+ Verified Wallets signed up, 500 CAITG

The scaling nature gives those involved early a greater stake in the success of the token and also have greater voting power early on by having less expensive governance proposal costs.

Yay/Nay/Abstain must represent at least 50%+1 of all verified wallets.

Verification is not meant to be a barrier, or even to collect information other than your WAX address. We just need to know that an actual user is behind the vote. We also want to ensure that voting matters. Meaning, we will take action against users who try to maliciously double-vote. Accidents or general ignorance is an excuse that will simply result in nullified votes and/or the CAIT-backed votes to be lost to the airdrops pool for community distribution.

The form and function of this system are to create more opportunities for those users who are the most directly involved in the project and are the most engaged while also keeping the smaller, casual user franchised by giving them a reasonable opportunity to take action on behalf of a proposal that they believe will make the project better.

We want the community to run this project, we just want to guide it.

No Current Proposals!

CAIT-G is an unbacked token distributed by the CAIT Team and Partners as a way to drive community engagement and direct democratic principles into the program. This will be the token that we can generously give out because of the unbacked nature of the token.

Team Members and Partners received an initial distribution of 5,000 CAIT-G to be used to drive proposals. On May 1, 2021, all 128 verified wallets received their initial share of 10,000 CAIT-G, which equalled 78 CAIT-G per wallet.

CAIT-G has a Total Supply of 125,000.

CAIT-G is a 0 Precision Token designed for easy Yes/No Voting.

CAIT-G has a starting Alcor Swap Price of 1 CAIT-G/100 CAIT.

When CAIT-G is used in a proposal, or for voting, the tokens sent to caitdao.gm will be redistributed later on as an airdrop to all verified wallets.

Officially, the CAIT Team will not be opening a Market on alcor.exchange for CAIT-G.

If a community member wishes to open a market, they have permission to do so.