We are happy to announce the 2022 Trust Protector election for the Dash DAO Irrevocable Trust.
What is the Dash DAO Irrevocable Trust? 🤔
The Dash DAO (decentralized autonomous organization) Irrevocable Trust, was formed in July 2017 to ensure that the Dash Core Group (DCG), the largest network-funded organization responsible for Dash’s development, is held accountable to the Dash network in more ways than simply defunding it.
The trust is structured so the Dash network is the beneficiary, the trust owns 100% of the shares in the Dash Core Group, and the trustee ensures that the everyday work of DCG is following the best interests of the network. The Trust Protectors serve as a check and balance system to ensure the trustee and DCG are doing their jobs and have the ability to replace any members of the DCG Board of Directors if they are not satisfactorily servicing the best interests of the network. The Dash masternode network elects six Trust Protectors every year to ensure they also have the best interests of the network in mind.
For more information on the trust and its role, please click here.
Trust Protector Election Details 🗳️
Candidate Application Submission Period:
- March 22, 2022 – April 1, 2022, 11:59 PM UTC: Open applications
- April 2, 2022 – April 3, 2022: Finalize election page and candidate profiles
- April 4, 2022 – April 14, 2022: Open Masternode voting period
- April 15, 2022 – April 16, 2022: Vote tallying and validation
- April 17, 2022 – Results announced
The Dash Incubator team will overview the process 💂♂️
In order to ensure that the process is conducted as expected, the Dash Incubator will be the objective third-party auditor.
To apply to be a candidate in the Trust Protector election please send a completed application before 11:59 PM UTC on April 1, 2022.
The Dash Incubator will compile the list of candidates and will publish the final list for voting on April 2, 2022.
To be eligible, candidates must provide valid ID and proof of residence, since the trustee will need to perform KYC checks before confirming the appointment of any elected trust protector.
Candidates must meet the following requirements:
- Of legal age
- Mental capacity
- Not a felon
- No conflict of interest with the position
- Not citizens of Iran, North Korea, Syria, Sudan or Cuba, and not in the list of Specially Designated Nationals (SDN) maintained by the US Department of the Treasury.
- Not be a “politically exposed person”.
- Not previously been bankrupt, or otherwise barred or disqualified from holding any corporate title or regulatory license/authorization.
- Not have any legal proceedings pending as defendant wherein fraud, dishonesty, dishonorable conduct, or breach of the law as relating to financial services is alleged.
- Be willing to provide copies of identity and proof of residence documents within 10 days of a successful election (typically national passport ID, and a residential utility bill), certified as true copies and delivered in accordance with the Trust Protector’s requirements, and refreshed annually thereafter.
Vote count and results publication 🧮
The Dash Incubator has created a website where masternode operators can vote on the published list of candidates. The software will be open source so anyone can check the process.
The Dash Incubator will receive the votes and publish the results once they independently tally them, immediately following the voting deadline.
Approval voting ✅
The six candidates with the highest approval will win the election. This is similar to how our governance system works and also ensures that, in a scenario of many candidates, the six selected are most widely supported and representative of network interests.
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Learn more about Dash at: https://www.dash.org 👀
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