6.1 Community Governance

FireDAO is a community-driven autonomous economy built by all community members, in pursuit of co-creation, co-governance and co-ownership! Having a sense of ownership, each community member is the real master of FireDAO and participates in the collective decision-making of the community in the form of referendum voting.

FireDAO issues governance token FDT. The holders of FDTs are the owners of the entire FireDAO community. However, unlike the governing principles of general DAOs, FireDAO carries out community governance activities centered on the FireSoul Account. FireDAO will create a community governance DAO which will serve as the highest governance body of the entire FireDAO community.

Each official member of the DAO has a Soul Account and is assigned an FID. Each FID has an "on-chain reputation": FRT. FireDAO uses the number of FRT as the basis for each formal member's "voting rights" to participate in community governance throughout the DAO. Community members without FID have no right to enjoy various rights within the FireDAO ecosystem, including but not limited to reward rights, incentive rights, voting rights, and the right to be elected.

The FireDAO community was initially governed by the RainbowCity Foundation in a centralized manner. The RainbowCity Foundation authorized the formation of an interim management team for the global community governance of FireDAO, which will be governed by the interim management team.

The FireDAO Global Community Interim Management Group is appointed by the RainbowCity Foundation. The chairman of the RainbowCity Foundation serves as the interim team leader and has a veto power over the proposals of the group. As the ecological development of FireDAO goes gradually on track, the authority of each administrator of the FireDAO protocol will be handed over to the community governance DAO one after another. The community governance DAO manages and governs, and makes decisions in the form of community referendums. FireDAO will gradually realize completely decentralized governance.