Karma Ksana Community Governance Regulations

General Guidelines

Article 1: The philosophy behind Karma Ksana's community management is "to implement blockchain technology the right way".

Article 2: Karma Ksana community ownership belongs to the members of the Karma Ksana community.

Article 3: Karma Ksana community representatives serve as decision-makers in the Karma Ksana community.

Article 4: Karma Ksana community supervisors serve as auditors of internal community data, voting, and document verification.

Article 5: The Karma Ksana development team serves as the developers and implementers of the Karma Ksana community.

Governance Token Regulations

Article 6: The $KMK token is the sole governance token of the Karma Ksana community.

  • Article 6.1: Staked $KMK tokens are defined as tokens that are staked in the Karma Ksana staking system and tokens locked in the Karma Ksana staking system.
  • Article 6.2: Locked $KMK tokens are defined as tokens that are locked up in the Karma Ksana staking system.

Article 7: Profits generated by the community are jointly owned by the entire Karma Ksana community. The profited $KMK tokens will be repurchased from the market and distributed in the following order:

  • Article 7.1: Profits will be firstly distributed for development budget purposes.
  • Article 7.2: Profits will be secondly distributed to a development budget set aside for the following year.
  • Article 7.3: Profits will be thirdly distributed and stored in the community treasury up to 10% of the total token quota.
  • Article 7.4: Profits will be fourthly distributed and stored the cash pool of the community's token bonus system.

Article 8: The distributed budget for community representative rewards, community supervisor rewards, and distinguished community contributor rewards, if paid for in tokens, shall be funded by the community treasury.

Regulation Revision Policies

Article 9: Amendments to rules and regulations must be proposed by community representatives and can only be revised upon receiving approval through a community referendum.

  • Article 9.1: Community regulations broadly encompass the following: terms and conditions concerning community governance, community members, community representatives, community inspectors, and the development team.
  • Article 9.2: Before a community representative presents a proposal, internal community votes must reach a threshold of 80% of votes in agreement of said proposal. Upon meeting this threshold, the proposal can then enter the community referendum stage.
  • Article 9.3: Regulation revisions shall be decided through community referendums.

Supplementary Articles

Article 10: Community representative elections are to adopt a quadratic voting rule system. The regulations pertaining this voting system are as follows:

  • Article 10.1: The number of points held by a community member is determined by the amount of $KMK tokens staked by a community member.
  • Article 10.2: When calculating points, the number of staked $KMK tokens is unconditionally rounded down to the closest integer.
  • Article 10.3: Community members cast their votes by spending points. The amount of points spent is calculated by the number of votes squared. For example: One vote uses one point, two votes use four points, three votes use nine points, and so on.
  • Article 10.4: The timing specified to determine the number of tokens a member possesses is decided by a snapshot of a member's amount of staked tokens two days before voting day.
  • Article 10.5: The remaining points cannot be used in the next election.

Article 11: The results of a community referendum reflects the consensus of the community.

  • Article 11.1: Community referendums are for the participation of all community members. Every vote holds equal value.
  • Article 11.2: Community referendums shall adopt a simple majority voting rule system.

Article 12: The standard time zone adopted for any specified times is based on UTC+8.

Article 13: Any articles that contradict the regulations as stated in Community Governance are considered void.

  • Article 13.1: Criterion shall be determined by consensus reached by developers and community representatives following a discussion between both parties.
  • Article 13.2: If the two parties cannot reach a consensus, then the final resolution shall be determined by a community referendum.

Article 14: Karma Ksana community funds are stored in the community's multi-signature wallet.

  • Article 14.1: Funds that are already allocated are not subject to this limitation.
  • Article 14.2: The community's multi-signature wallet is jointly managed by the development team and community representatives.

Interim Provisions

Article 15: All regulations are subject to change before the public sale period of $KMK tokens.

  • Article 15.1: Regulations may be immediately amended according to assessments by the development team.
  • Article 15.2: In the case of a vacant community representative seat, the first election is tentatively scheduled for the fourth quarter of 2023.
  • Article 15.3: During the amendment period, all necessary documents and information must be retained. This information will be used for auditing purposes following system rollout. The system rollout date is tentatively scheduled for the fourth quarter of 2023.

© All Rights Reserved            updated 2022-11-12 13:15:25

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