Compass DAO Committee
Compass DAO Committee will determine the usage of the Damage Relief Fund for the Compass users who have fallen victim to hacking incidents or scams.
The initial DAO Committee will be the Compass Protocol Team. As more users join the Protocol in the future, those with the ability to identify, track and analyze digital asset-related incidents will be elected into the DAO Committee.
As part of the DAO Committee election process, the Compass Protocol Team will conduct initial screening and interviews to verify the relevant experiences of the candidates. Successful candidates will then be put forward for the wider DAO Members' review before being formally elected into the DAO Committee. The number of DAO Committee members will also be determined through a voting process, and the voting power of the Compass Protocol Team will not exceed 50%.
DAO Members who participate in the election of the DAO Committee will be rewarded for their participation, while the candidates applying for a role in the Committee must contribute a certain amount of COM tokens to the DAO. Contributed COM tokens will be redistributed to DAO Members who participated in the election process, and a certain percentage of the contributed tokens will be burned.
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