Life in Our Minds DAO Constitution

Life in our Minds (LIOM) is a multi-dimensional artwork created by Random International in collaboration with Danil Krivoruchko, produced by Snark.art and Pace Verso on OG.Art platform.

It consists of two major parts: an NFT collection and an interactive generative video sculpture entitled The Mother Flock.

The Mother Flock and the NFT collection are interrelated, as they are made from the same basic matter — 3D origami objects called Boids. Following the project's launch, all of its elements have been going through a complex evolutionary process that depends on individual NFT collectors' behaviors.

When the whole NFT Collection evolution is finished, the Mother Flock will obtain its elements' final amount and appearance but will continue to move and change its shape indefinitely.

There are two editions of The Mother Flock. The first one was sold at Christie's 3.0 auction, and the second edition will go to the community of LIOM NFT collectors as a reward for their active participation in creating the sculpture. Besides that, a special web version of the sculpture will permanently live on OG.Art platform, where it can be viewed at any time.

Leading on from this, we will be launching LIOM DAO, inviting all interested LIOM collectors to join and take part in decision-making regarding their Mother Flock NFT.

Purpose of the Life in Our Minds DAO

To propose, approve and execute actions with the purpose of supporting and elevating the value of the LIOM project.

Any questions regarding the future fate of the NFT collection and the second edition of the Mother Flock virtual sculpture will be put to community review, and decisions will be made by voting.

These questions might include: when and if to sell the Mother Flock NFT, how to use proceeds from the DAO vault, should the collection be frozen forever, or whether DAO board members should be paid, amongst many more.

The Structure of the LIOM DAO

Life in our Mind DAO will consist of its members and a board. While we are aiming to have a flat structure, we think it is also important to have a DAO board that would focus on proposal structuring and processing.

• DAO members
  Anyone who is a holder of at least one Life in Our Minds NFT has a right to become part of the LIOM DAO. Joining the LIOM DAO channel and participating in any LIOM-related voting is enough to be considered a member and have a say.
  
  Members are required to conduct themselves in a manner that fosters inclusive, respectful discourse with the purpose of exploring ideas and executing initiatives for the mutual benefit of all LIOM NFT holders.  
• DAO Board
  3 community members will be nominated to form the DAO board by the project creators, and a general DAO vote will be held to confirm this decision with the community.
  
  The purpose of the Board is to administer DAO proposals and serve the community's vision. Each board member is elected for one year but can be replaced earlier by the majority vote from the community. A member of the Board can leave at any time – give a reason, and initiate voting for a new member to take that same position.

DAO and Original Creators' Relationship

There are four original creators of the project: Random International and Danil Krivoruchko (artists), Pace Verso, and Snark.art (production).

Original creators might or might not be members of the DAO and do not have any additional power in voting compared to regular DAO members. As with all members, their voting power is defined solely by the number of LIOM NFTs they own.

Even if original creators are not participating in the DAO, they have a right to propose ideas regarding the development and support of the collection, promotional and exhibition opportunities, live events, etc.

While the formation of a DAO has always been the intention of the original creators and an integral aspect of the overall Life in Our Minds NFT project, the creators are not responsible for DAO decisions. Moreover, Original Creators reserve the right to stop cooperating with the DAO if DAO's goals and core no longer reflect the original creators' vision and values.

Proposal submission guidelines

Anyone who owns at least one LIOM NFT can submit a proposal to the LIOM DAO channel on the official OG.Art Discord server. The Board reviews and discusses it, updates it if needed, and decides whether to put it to a vote or not.

If it is, the vote is arranged on the official OG.Art Snapshot platform – with one vote per LIOM NFT owned.

By default, voting lasts 48 hours with a quorum of 50 votes. However, the quorum can be predefined by Board members depending on the importance of the proposal.

Proposals are accepted by a simple majority of votes.

DAO fund and funding

The DAO fund (Treasury) consists of one of the two Life in Our Minds Mother Flock editions and the corresponding NFT.  

The Treasury wallet address is 0xE4906dC567397321df52f54EA8b514E06F9Cb23a

Besides, 1% of the Life in Our Minds NFT collection sales on the secondary market goes to the DAO vault.

The two editions of the Mother Flock

There are two editions of The Mother Flock with two corresponding NFTs. The main difference between them is that the second edition, belonging to the LIOM DAO, doesn't have a physical component. But, if the project community decides to do so, the physical structure could potentially be produced according to Random International's instructions. For example, if the DAO finds a potential buyer, the community might decide to prepay for the production. In this scenario, the Random International art group will provide the LIOM DAO with instructions for the virtual sculpture construction. Random International will provide the hardware at a similar (albeit inflation-adjusted) cost as for the first edition of the sculpture. The studio will provide an estimate for review before the purchasing decision is made.