Santa Fe Art DAO’s mission is to fund art, artists, and creative projects through community governance.
A DAO (Decentralized Autonomous Organization) is a non-fungible token based governance platform. Proposals are submitted and voted upon by DAO-token owners. One token is equivalent to one vote. The proposal will be automatically executed given that a given quorum threshold is reached and the proposal gets at least 51% of total votes in favor.
The randomly-generated token artwork is supplied by the local Santa Fe artist Joerael Numina. The Santa Fe Art DAO generates a new Ranger token everyday. One ranger is trustlessly auctioned every 24 hours, forever.
100% of Santa Fe Art DAO auction proceeds are trustlessly sent to the treasury. The treasury is controlled exclusively by Santa Fe Art DAO members through proposals, voted on by its members.
The auction for each token will start at a minimum first bid of 0.1 ETH and be minted to the highest bidder. The settlement of one auction automatically kicks off the next.
Ownership of 1 Ranger will give the winner of the auction 1 vote in the DAO’s proposals. All Ranger owners are effectively members of the Santa Fe Art DAO.
To submit a proposal, we are starting with a required .5% ownership out of all tokens. There may be a proposal submitted at a later date to change this percentage as the DAO
For a proposal to be considered for passing at least 10% of all tokens need to have voted on the proposal. Then, like many other DAOs, the proposal must get at least a 51% majority vote to pass.
TThe proposals are encouraged to be focused on the funding of artistic projects and grants.
Santa Fe Art DAO founders receive rewards in the form of Ranger NFTs (10% of supply for the first 5 years).
Veto Power will be reserved for the founder and used exclusively to avoid 51% attacks or until the DAO is large enough to defend itself. The main situations that will be considered for veto are:
The Santa Fe Art DAO and its treasury operate as its own entity. Ownership of a Santa Fe Art DAO token (Ranger) does not imply or confer ownership in any way of the platform santafenft.io.