A glossary of DAO terms

Patrons

Patrons contribute funds and participate in Trojan’s "Art Offering" - exclusive access to NFTs representing artworks, event tickets, experiences & collectibles.

Unlike other patronage or crowdfunding models, Patrons are able to vote together with the other DAO members on how the funds will be spent, and have control over their contributed funds right up to the moment that they are used: Patrons are able to withdraw their sponsorship at any time if they do not agree with decisions on how funds will be used, using the Moloch DAO’s “Rage-quit” feature.

wETH

The Trojan DAO uses a currency called wETH. If you’re not familiar with wETH, it’s just wrapped ETH wrapped into an ERC-20 token. You can exchange ETH for wETH 1:1 and back any time by using the “wETH center” over at the the Trojan DAO interface.

Proposals

Proposals are basically what they sound like. These are proposed decisions for the DAO to make. An applicant proposes submitting a certain amount of tribute in exchange for the minting of a certain number of shares in the Trojan DAO.

Before submitting a proposal to Trojan DAO, make sure to read the guides on how to Pledge as a Patron, how to create a Grant Proposal, and how to submit a Membership Proposal.

Delegate Key

This allows you to assign your voting shares to another ethereum address. This doesn’t mean delegated voting (if you’re thinking liquid democracy), but just allows a member to use one wallet address for voting and another for economic rights.

Grace Period

The grace period is the period of time after the voting ends, but before the proposal can be processed (and the applicant can get their funds). This is important when it comes to rage quitting, which is described below. The Trojan DAO has a grace period of 7 days .

Period Duration

This is the base period that the DAO uses to tell internal time.

Process Proposals

After a DAO proposal is voted on by the members, a member will need to process the proposal. After a proposal has been processed the applicant will get their tribute back (if the proposal failed) or be able to access the shares or withdraw the funds in wETH granted to them (if a proposal passed).

Rage Quit

Rage Quit allows a member to withdraw all or part of their share of the wETH that exists in the DAO’s common bank at any time, with the click of a button. No permission required!

Shares

Shares are granted to members in order to allow them to vote on proposals in the Trojan DAO. Shares also represent a claim on the funds (in wETH) held in the DAO.

Minimum Tribute

Before a proposal can go for a vote, it needs a current member of the DAO to sponsor it. The Trojan DAO has a minimum tribute deposit 3 wETH in order to process a proposal, as a spam filter.

Tribute

This refers to the wETH you send to the DAO in order to join as a new member or to claim more shares.

Vote

Voting is the core activity of the DAO. In the Trojan DAO, all voting happens after a proposal has been sponsored in the ”voting period.” Voting is a simple “yes” / “no” choice where you vote all of your shares for one of those options.

Voting Period

The voting period is how long members will have to vote on a proposal once it’s been sponsored. Trojan DAO uses a 7 day voting period.