New Order
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Constitution of New Order

Purpose

The New Order constitution is a set of binding rules that determine what governance actions are legitimate for the DAO to take. Each article has examples of permissible and non permissible actions. These examples are illustrative and should not be considered a binding part of the text of the constitution itself.
New Order is a permission-less community driven venture DAO incubator for decentralized finance (DeFi) projects. The platform is led by community members through an open and transparent voting process and aims to fund early stage DeFi applications and surround teams with talent and resources to fast track growth and development.
First and foremost, New Order will be community lead when it comes to managing the most diverse and profitable balance sheet of cross-chain assets. In order to achieve this, we’ve designed a new permissionless, chain-agnostic and upgradeable governance architecture that we will soon leave in the hands of the community to take over and build upon.
The New Order Improvement Proposal (NOIP) process will be referenced throughout.
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Rules on Membership

Examples of behavior that contributes to a positive environment for our community include:

  • Demonstrating empathy and kindness toward other people Being respectful of differing opinions, viewpoints, and experiences
  • Giving and gracefully accepting constructive feedback
  • Accepting responsibility and apologizing to those affected by our mistakes, and learning from the experience
  • Focusing on what is best not just for us as individuals, but for the overall community

Examples of unacceptable behavior include:

  • The use of sexualized language or imagery, and sexual attention or advances of any kind
  • Trolling, insulting or derogatory comments, and personal or political attacks
  • Public or private harassment
  • Publishing others’ private information, such as a physical or email address, without their explicit permission
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Rules on Bylaw

Rule #1

Any income generated by the New Order treasury is to be used first to ensure the long-term viability of New Order, and to fund continuing development and improvement of the New Order Network. Funds that are not reasonably required to achieve this goal may be used to fund token holder distributions. New Order governance will not allocate funds to a team or individual who does not commit to uphold the same principles outlined in this constitution in their use of the allocated funds.

Examples

Permissible: NEWO governance may distribute yield generated on treasury assets to token holders, so long as doing so does not affect the long-term viability of NEWO.
Not Permissible: NEWO governance must not use the funds to support projects that conflict with the goals of NEWO.

Rule #2

New Order will not distribute more than the 5% of $NEWO tokens as airdrops from the treasury as outlined in the tokenomics. Note: Yield farming emissions and Contributor rewards are not included in the 5% airdrop allocation.

Examples

Permissible: NEWO tokens distributed through staking yield.
Not Permissible: Allocating more than 5% of the token supply to airdrops

Rule #3

SubDAO leaders will be elected through the improvement proposal process before taking power. Election of a sub dao leader requires the same governance process as an improvement proposal. Note: The first Sub DAO leads are elected by the core team to bootstrap operations.

Examples

Permissible: SubDAO elections are held to a 2.5% quorum with a minimum approval of 50%.
Not Permissible: SubDAO lead is elected without a governance process.

Rule #4

SubDAO leaders have autonomy to execute operational decisions in the best interest of New Order as a whole, leaders are subject to removal from the board through a Kleros Court vote or multisig if they act maliciously towards the DAO.

Examples

Permissible: SubDAO leaders can delegate tasks to contributors. Not Permissible: SubDAO leaders altering structural processes like partnerships and investments without a governance process.

Rule #5

SubDAO leads are elected for 3 month periods, subject to re-election at period end.

Examples

Permissible: Lead for elected 3 month period. Not Permissible: Continue leading after the 3 month period without a governance election held.

Rule #6

In times of security risks, the protocol's multisig has the autonomy to execute transactions in the best interest of New Order as a whole.

Examples

Permissible: Multisig has veto power. Not Permissible: Executing transactions that are not improving the security of New Order or its treasury assets.

Rule #7

Incubated projects will be subject to the improvement proposal and governance process before the incubation process begins.

Examples

Permissible: Team and resources are allocated upon a governance vote. Not Permissible: Investment funds are allocated to the incubated team prior to an appropriate governance process.

Rule #8

New Order DAO will not distribute or sell incubated project tokens allocated to its treasury in the first 2 years after Incubated project TGE. Note: Yield generated on the treasury allocation is not subject to the aforementioned rule.

Examples

Permissible: Rebalancing the treasury held Incubated project tokens post 2 years after TGE Not Permissible: Negating a non-malicious governance proposal that attained proper governance procedures.

Rule #9

New Order DAO and Sub DAO’s need to apply for a budget each quarter, which will be subject to an improvement proposal.

Examples

Permissible: Allocating a budget to the Technical Sub DAO for contributor payments upon a successful snapshot vote
Not Permissible: Paying out contributor rewards for the season without appropriate governance procedures (NOIP)
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Rules on NOIP and Amendment

Threshold for NOIP passing voting: 50% approval, with a 2.5% minimum quorum of governing tokens. Threshold for Constitutional amendments passing: 66% approval, with a 5% minimum quorum of governing tokens.