DAO & voting
onocoy’s DAO (Decentralized Autonomous Organization) and voting system are designed to ensure inclusive, transparent, and decentralized governance over time. Here's how it works:
🏛️ DAO Structure
onocoy is legally structured as a non-profit Swiss association, blending:
Legal governance (off-chain, via Swiss association law)
With decentralized governance (on-chain, via token-based voting)
This hybrid model lets them operate legally while still evolving toward a fully decentralized system.
🗳️ Voting System Overview
✅ Token-Based Governance
ONO token holders participate in governance
Token holders delegate their voting power anonymously
Delegates must have known identities, ensuring transparency
🔢 Voting Mechanics: Square-Root Voting
This is a modified quadratic voting system:
1 ONO
1 vote
4 ONO
2 votes
9 ONO
3 votes
...
...
🔒 This limits power concentration, making it harder for whales to dominate decisions.
🧑⚖️ Delegation Process
:
Any ONO token holder can anonymously delegate their vote to a known delegate
Delegates vote on proposals using the square-root of the delegated token power
Anyone can submit proposals (referenda or initiatives)
🧠 Delegation encourages participation without requiring everyone to vote directly.
📌 Governance Goals
Inclusive participation (even small token holders)
Decentralized control (progressively)
Transparency (through known delegates)
Resilience (mitigate Sybil and whale attacks)
📚 Governance in Action
Delegates vote on key proposals: protocol updates, reward adjustments, ecosystem decisions, etc.
Token holders govern the association itself, including electing the governance committee
Governance can evolve: future mechanisms like Borda count or approval voting may be used
Summary
Legal Entity
Swiss non-profit association
Governance Token
ONO
Voting Power Mechanism
Square-root voting (limits centralization)
Delegation
Anonymous → Known delegates
Proposal Creation
Open to all token holders
Voting System Goal
Progressive decentralization + transparency
Last updated