Ancient8 Chain’s governance is built on the principles of collaboration and decentralization. The Ancient8 Collective is comprised of leading Web3 gaming thought leaders working together to drive mainstream adoption of decentralized technologies. The Ancient8 Foundation drives this mission by focusing on Ancient8 Chain’s adoption and decentralized governance, ensuring the community’s voice is at the forefront of decision-making.
Our goal is to shape the future of Web3 gaming and IP through solidarity and community power, creating a vibrant metaverse of endless possibilities and innovation.
Mission & Core Values
Ancient8 Governance’s mission is to empower community-driven decision-making, ensuring transparency, inclusivity, sustainability, and security in the ecosystem. Ancient8 Governance aims to distribute power among community members, promote active participation, support innovative ideas, and maintain accountability. By building a collaborative and united community, Ancient8 Governance is committed to creating a resilient and innovative ecosystem, pioneering the future of Web3 gaming and IP.
Ancient8 Governance
Governance Responsibilities
Ancient8 Citizens
Ancient8 Citizens, comprised of $A8 token holders and smart contract stakers, are the backbone of Ancient8’s decentralized governance. They shape the ecosystem by proposing and voting on Ancient8 Improvement Proposals (AIPs), ensuring the community actively guides the future direction of the Ancient8 chain.
Roles and Responsibilities:
Creating Proposals: Ancient8 Citizens can create and submit AIPs to suggest improvements or changes to the ecosystem. These proposals can range from technical upgrades to policy adjustments and ecosystem enhancements.
Voting Power: Token holders have voting power proportional to the $A8 they hold or stake. This power enables them to vote on AIPs, ensuring that major decisions reflect the collective voice of the community.
Community Participation: Active participation in discussions and debates within the Ancient8 forums and other governance platforms is encouraged. This participation helps refine proposals and ensures they align with the needs and vision of the broader community.
Proposal Acceptance Threshold: For a proposal to be considered valid and move forward, it must meet a quorum requirement of at least 5% of the total $A8 token supply. However, this 5% benchmark may vary depending on the type of proposal and the specific approval threshold required for implementation. Other conditions may also affect the required percentage to ensure that only proposals with strong community support are implemented.
Ancient8 Foundation Council
The Ancient8 Foundation Council plays a key role in promoting the adoption of the Ancient8 chain and its decentralized governance. It is responsible for proposing technical improvements through AIPs, managing the operational aspects of the chain, ensuring network security and scalability, validating game studios, and supporting game guilds. In addition, the Foundation Council acts as a bridge between game studios and players, ensuring that the rights and interests of both parties are maintained, thereby promoting and growing the ecosystem.
Initially, the Foundation Council includes 5 individuals appointed by the Ancient8 Foundation Directors:
Zane Nguyen: Core Contributor of Ancient8
Anik Dang: Co-founder of Reneverse
Dave Nguyen: Founder of Space3
Tin Tran: Founder of Cavies Labs / Seitrace
Liem Thai: Founder of Topebox Studio
Roles and Responsibilities:
Propose Technical Improvements: Initiate and manage technical AIPs to enhance the Ancient8 chain.
Operational Management: Overseeing day-to-day operations and ensuring network stability and efficiency.
Game Studio Verification: Conducting meetings and assessments to verify and join game studios.
Support for Game Guilds: Facilitating communication and collaboration with game guilds to address community needs and feedback.
Governance Management: The Foundation will facilitate the management of the governance processes described in this Charter to ensure that citizens can participate thoughtfully in governance. Such administrative services may include:
Reviewing governance proposals to ensure that they are validly submitted and voted on.
Removing proposals that reasonably appear to be fraudulent, spammy, defamatory, hateful, or otherwise inappropriate or inconsistent with the Foundation's values.
Monitoring votes, voting power, and voting times to determine whether quorum and approval thresholds are met or accurately reflected.
Managing conflicting proposals submitted simultaneously or in close proximity to each other.
Network maintenance management, such as emergency bug fixes or version rollbacks (with or without governance votes).
Other matters that the Foundation deems appropriate related to the above.
Subject to applicable law, the Foundation Charter and these Bylaws, the Foundation Directors will review any Approved Citizen AIP or Approved Progress Committee AIP and, to the extent they wish to adopt such a vote, have the authority on behalf of the Foundation to take any action reasonably necessary to implement the Approved Citizen AIP or Approved Progress Committee AIP; provided, however, that any Foundation Director may veto a proposal or impose such restrictions on its observation and implementation as the Foundation Directors may determine in their sole discretion to be necessary or appropriate to:
Ensure compliance with any applicable laws or regulations of any jurisdiction.
Ensure that the Foundation acts in accordance with the Foundation Charter and these Bylaws.
Prevent any damage (including reputational damage) to the Foundation.
Future Expansion: To enhance decentralization and better safeguard the rights and interests of all interested parties, the Ancient8 Foundation plans to include more members representing gaming guilds, game studios, and DApps within the ecosystem. By integrating these roles and responsibilities, the Foundation Council ensures that Ancient8's governance is inclusive, balanced, and meets the needs of players and developers. Council seats are elected by citizens, and Ancient8 verifies the reliability of candidates. If a seat is already occupied, the community can vote for re-election based on performance and reputation.
Security Council
The Security Council is a committee of six (6) members appointed by the Directors of the Ancient8 Foundation. These members are signatories of the multi-signature wallet and have the authority to perform certain emergency and non-emergency actions authorized by the Ancient8 Foundation. The Security Council is critical to maintaining the security and integrity of the Ancient8 chain, especially during times of crisis.
Roles and Responsibilities:
In Case of Emergency Action:
In the event of a security emergency that has not been approved by specific governance, the Security Council has the authority to immediately perform any software upgrade or take other necessary action to address the emergency.
Emergency actions require approval by a majority vote of the Security Council (4 out of 6 members).
The Security Council may only use its authority to take emergency actions in the event of a true security emergency, such as a critical vulnerability.
The Security Council shall publish a transparency report within a reasonable time after taking any emergency action, explaining what actions were taken and the justification for taking such emergency action.
Oversight and Reporting:
The Council must ensure that all actions taken are transparent and justified, and provide reports and updates to the Ancient8 Foundation and the community.
The Foundation Directors, in consultation with the Foundation’s legal counsel, have the authority to limit or remove the Security Council’s authority to perform emergency actions, if necessary.
Governance Tools: Ancient8 provides a variety of governance tools to ensure community participation and effective decision-making within the ecosystem.
Ancient8 Forum: The Ancient8 Forum, located at https://forum.ancient8.gg, allows the community to review and discuss governance proposals. It serves as a platform for open dialogue and feedback on proposed changes and initiatives.
Ancient8 Proposal Template: The Ancient8 Proposal Template provides a structured format for Ancient8 citizens to develop governance proposals in accordance with this Charter (the “AIP Template”). This ensures consistency and comprehensiveness in proposal submissions.
Ancient8 Snapshot: The Ancient8 Snapshot, available at https://snapshot.org/#/ancient8fdn.eth, allows Ancient8 citizens to vote on governance proposals. The platform ensures that decision-making is transparent and democratic, allowing the community to participate effectively in the future direction of Ancient8.
Through these governance tools, Ancient8 ensures that the community can actively participate in the decision-making process, driving healthy development and innovation in the ecosystem.