We here at LOLZ Project have decided that the project has grown to a point that we needed to start thinking about a Governance system. After rolling it around in our heads for a little while, we decided to create an NFT based Governing system.
We love the deal you can get on creating NFTs over at Meme Hive and while the words to the Governance is little more than an outline right now, the official LOLZ Governness NFT has been minted and is available for purchase.
The above picture is not an NFT, but an image of the NFT, and as such has no value.
An NFT That Does More Than Just Look Good
Lots of NFTs look good but how many are really good for anything other than holding in your collection? The LOLZ Governness NFT gives its holders the power to help shape the LOLZ Project.
Each NFT owned gives the holder one vote in any governing decisions brought to a vote. Decisions such as adding a new tribe, funding and implementing additional capabilities, even disbanding the project will be decided by majority vote once the full Governing system is implemented.
All NFTs Are Created Equal - Almost
As we said, each NFT carries the weight of one vote. The owner of the 50th edition NFT is allowed one vote, the same as the owner the the 1st edition NFT.
The first big exception is the owner of the 1st edition LOLZ Governness NFT, is the owner of the LOLZ project. A legitimate transferring of the 1st edition NFT (i.e., not via theft or coercion) will also represent transferring ownership (keys, bots, and stakes) to the new NFT owner. We have no plans to sell the first edition, but we now do have a way to identify and transfer ownership via the blockchain if necessary.
Second, while each NFT gives the owner the ability to vote on a Governance mater, only the owner of the 1st edition NFT can bring an item up for a vote. As such, the owner of the 1st Edition maintains full control of the LOLZ Project by only allowing those matters they support to be brought to a vote. This was implemented to avoid concerns over hostile take overs and other such foolishness.
Do note that all NFT owners can and are encouraged to suggest decisions to bring to a vote. However, only the 1st Edition owner can bring them up for a vote.
Also note the 1st edition only carries one vote. So while an owner can bring a decision up for vote they can't control the outcome of that vote.
That is the the rough outline or our new Governance system. We will work to add some flesh to the bones as we wait for the NFTs to sell.
Details of the Minting
Fifty editions of the LOLZ Governness NFT were minted. The 2nd through 50th editions are currently available for purchase. The highest edition numbers are very reasonably priced we believe, but the price increases significantly as you get to lower and lower edition numbers.
The NFTs are for sale on the Hiveme.me website where they can only be purchased with MEME tokens. All proceeds will be used to power up MEME on our curation bots.
We also recognize that MEME may be hard to acquire, so we are more than happy to work with you to purchase an NFT with HIVE or other tokens of equivalent value. Reach out to @captaincryptic on our Discord channel if you are interested in exploring that option.
About the LOLZ Project
LOLZ Project is an engagement project with the mission of spreading laughter and joy on the Hive blockchain. Hive users can use the !LOL or !LOLZ command in comments to share a clean joke and tip the author an $LOLZ token.
Help Support the LOLZ Project
Here are some easy ways you can help support the LOLZ Project -
- Use the !LOL and !LOLZ command often to tip fellow Hive authors.
- Upvote and re-Hive our posts. All rewards will be used to help cover server costs and increase curation value.
- Delegate Hive tokens and earn LOLZ Farming rewards.
- Follow @lolztoken and participate in our airdrops, contests, and giveaways.
