DefiboxDAO Charter V5.0

5th DefiboxDAO：

DefiboxDAO consists of all BOX holders, Board, Observers and Executive Team Representatives

Board:

Board consists of 4 members and they are the decision makers of Defibox

Responsibilities & Rights for Board Members:

1. Board members are selected by official invitations. The criteria are previous election history, board contribution and BOX holdings.

2. Participate in board meetings, listen to the report and development plan from the executive team, check and approve working plans.

3. Fulfil duties of Board members, improve and approve the DIPs, multi-sig for community assets, and other volunteer work.

4. Each Board member has 1 voting power.

5. Board members enjoy 100 BOX rewards per month.

Observer:

Observers as witnesses watching the operation of DAO, are an important part of DAO.

Responsibilities & Rights For Observer:

1. Observer selected by official invitation. The criteria are community involvement and BOX holdings.

2. Observers have no voting power but have 20 BOX rewards per month;

3. Observers, as DAO witnesses, must be honest and truthful to the community, maintaining the spirit of DAO;

4. Observers during the term automatically become Defibox volunteers and need to fulfill their duties as volunteers.

Executive Team Representatives:

Executive team representative (herein referred to as: Representative), as the executor of Defibox project development, is responsible for project development.

Responsibilities & Rights For Representative:

1. Team representatives have no incentives or voting power and will only intervene when the board votes are equal.

2. The team representative is responsible for communicating with members, conveying DefiboxDAO resolutions to the execution team and ensuring smooth implementation.

Multi-signature of community assets

Total decentralization has always been the goal pursued by Defibox. To deepen decentralization and make BOX holders the real owner of Defibox, the board decided to co-manage the community assets by multi-signature. The total weight of multi-signature approval is ≥5, of which, 4 board members, each with weight=1; Defibox Member A weight=2, Defibox Member B weight=1, Multi-signature Approval Condition 1: Defibox Member A + Defibox Member B + 2 board members approval; Multi-signature Approval Condition 2: Defibox Member A + 3 board members approval; Multi-signature Approval Condition 3: Defibox Member B + 4 board members approval;

Participating in the multi-signature of community assets is a big responsibility. The private accounts of board members participating multi-signature mean that they have partial control over the multi-signature assets. It is the duty of board members to keep the multi-signature account safe. Any exposure of the private key may cause losses to the Defibox community assets.

Board members:

https://pro.defibox.io/activity/councilResult

Community assets with multi-signature：

https://eos.defibox.io/dataAnalysis/

Board Resolution and BOX DAO Voting:

Decisions concerning Defibox will be determined by Board resolution. Each Board member has 1 voting power. The voting power allows abstention and follows the majority rule; Only when the votes are equal, will the team representative intervene. If any 3 community members that each hold 10,000 BOX locked in BSS request to trigger a BOX DAO vote, the issue will be decided by BOX DAO voting. Please use the BSS holding account to send 1 BOX to the official account candy.defi with the memo: BOX DAO voting, and inform everyone in the Telegram community.

Term Period:

In principle, the DefiboxDAO election will be held every 12 months. If no community members request a new election, the term period will be automatically extended for three months. Replacement of DefiboxDAO members is possible by either resolution from the board; or a petition from any 3 community members that each hold > 10,000 BOX in BSS.

Member Code of Conduct

Code of conduct for members: Fulfil Responsibilities for members in DefiboxDAO Charter; for members that do not fulfil the responsibilities, board members will vote to decide whether to deprive them of their membership or not.

• BOX token sale: If a board member plans to sell more than 20,000 BOX, it is recommended to contact the executive team to sell through OTC to avoid impact on the secondary market; if a board member sells more than 50,000 BOX within 30 minutes, this behavior will be seen as a bad behavior that manipulates the market and damages the interests of the BOX community.

• Insider information: Board members and observers are prohibited from engaging in trading activities through project insider information.

• Other behaviors that seriously damage the interests of the BOX community.