The AeroDAO

Published on
July 6, 2022
Written by
Max Fitzpatrick
Category
Aerovek Announcements

The AeroDAO:

Transparent governance ensured by you

Blockchain is a powerful technology that will undoubtedly shape the future of the next decades. Most people when they think of blockchain they immediately think of cryptocurrency and its ability to disrupt the current financial system. Although blockchain has the ability to disrupt much more than our broken financial system. Blockchain technology has allowed organizations to rewrite the hierarchical and decision-making process. 

In today's world, it's standard practice to put all of your trust in one leader or single point of failure within an organization. Not only is this a risky and centralized truth but it's opaque. Who knows what's best for a project an individual or its entire community? 

About DAOs

One of the key features of a blockchain and perhaps the main breakthrough of this technology is its ability to be trustless where we do not have to depend on a third party or an institution.

A Decentralized Autonomous Organization can be comparable in certain respects to a Board of Directors. No single entity has controlling rights, without centralized leadership. The organization is managed by token-holding members who have voting rights and have a say in the organization's dealings. The foundational rules are set by smart contracts which execute the agreed-upon decisions and are concluded by voting on the community’s proposals.

Therefore, the main goal of a DAO is to act as the ultimate democratic governance system.

Acting as the ultimate equalizer, a DAO aligns the incentives for all the community members and it gives them a voice. Using a DAO also tends to be more efficient because it eliminates bureaucracy and intermediaries and what remains is the distilled will of the community simplified to specific actionable proposals. This solves the classic principle-agent dilemma, i.e there is a conflict of interest between the group and the one who is making the decisions. For example, it is a common problem for CEOs to act out of their self-interest instead of the goals of their community. 

The AeroDAO

Because the aviation industry in which Aerovek operates is extremely regulated and has specific boundaries and laws, for good reason, we need to make sure that every proposal passes filters that are in accordance with those laws and regulations.

The AeroDAO is separated into two categories: Community and PAP (Pilot Ambassador Program)

1. PAP: This category shall vote on the aviation side of the business for matters regarding items such as, but not limited to, Know Your Customer (KYC) standards, pilot approvals, tool needs, etc. The PAP is for helping Aerovek be compliant and lawful but also use their experience in determining what specific features and functions need to be implemented in our products and services in the most useful way for aviation professionals.

2. Community: This category shall vote and construct/develop the functionality of, but not limited to, websites, tools, and other organization needs, financials, overall direction, etc.

Voting Eligibility and Duration

Any AERO token holder has the right to place a vote when voting is open. The community shall be notified in advance of any proposed vote with appropriate notice of time. The voting statement shall be clearly identified with what a vote for (Approve) or a vote against (disapprove) means.

The duration that the vote will remain open to all available AERO token holders will be seven (7) days.

There may be multiple proposals running in parallel in both the PAP and community DAO. Maximum effort will be made to maintain control of the management of the voting and time scale associated with each proposed vote.

Vote Results and implementation

A vote passes with a simple majority of greater than or equal to 51% for the voting statement. Any vote percentage less than 51% will be considered against the voting statement. Vote results shall be made available in real-time after a vote is placed.

A vote that passes with greater than or equal to 51% for (Approve) the voting statement shall be implemented in a timely manner.  This is dependent upon the complexity of the actionable outcome.  Items that have no production time could be considered implemented effective immediately.

If there is production time associated with the actionable item (such as tool development) then periodic statuses shall be communicated with estimates on effectivity.

In all cases, when an actionable item has been incorporated or has become effective, the community shall be notified across multiple media streams.

DAO Proposals and Whitelisted Agents

A proposal is an idea, recommendation, etc. that involves an actionable outcome through the DAO voting schema. The proposal shall be explicit in nature as to the actionable item and provide enough detail for token holders to understand the context of said proposal.

A whitelisted agent is an individual selected to represent the general community and the PAP.  Whitelisted agents will collect and decide on which DAO proposals come forward to be voted on within the voting eligible community.

Only whitelisted agents determined by the core Aerovek team can create proposals. These Members are referred to as the 13 Founding ambassadors of our PAP. You can find these members on the about section of our website under “Aero Ambassadors”. 

DAO Proposal Suggestions

Any AERO token holder can suggest a proposal.  There is no limitation on the number of proposals that an individual AERO token holder can suggest.

The best channel for proposal suggestions and discussions for the community is the Aero Lounge. There will be a tipping mechanism built within the Lounge replacing the ATIP token with the AERO token. Your activity, ideas, and goodwill can earn you AERO just by getting involved in the conversation and debate. 

Alternatively, we encourage all community voters to take their opinions and suggestions across all social channels. We have also created an AeroDAO telegram channel as well as a channel in the AeroFoundation Discord for voting discussions. 

We believe that “the best idea should win” no matter what your status is. Therefore, we please ask you to voice your opinions and thoughts to our community leaders so you can be heard. 

 

About Aerovek

Aerovek’s mission is to disrupt the aviation industry, starting with its flagship product, the Chartr App designed to connect professional pilots and users by removing the middleman, making it extremely easy and fast to charter a private flight while reducing the costs associated with it.

Link to DAO: https://aerovek.com/aerodao/

None of this is financial advice, and we recommend everyone do their own research. This is not an endorsement by Aerovek Aviation as to the intrinsic value of a digital asset (AERO, ATIP, or KVRI). All the information above is just for information purposes only for Aero community members. 

Thanks to everyone who has joined us in this incredibly exciting adventure, best part is this is just the beginning.

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