The Charter of DefiboxDAO V1.1

First DefiboxDAO Organization：

All the BOX holders, DefiboxDAO Professional Committees and DefiboxDAO Board constitues DefiboxDAO.

DefiboxDAO Professional Committees

First DefiboxDAO Professional Committees (hereinafter called “Committee”) is consist of up to 12 members, in which 6 technical members, 3 consulting members, and 3 marketing members.

Technical Committee Inclusion Criteria:

1. Expertise on DeFi, familiar with swap, lending, stablecoin, etc. Deep knowledge on the combination of DeFi, have judgement on Defibox tokenomics and DIP;
2. Representative of Backup BP and BP on EOS;
3. Experienced on project development, able to develop project.

Consulting Committee Inclusion Criteria:

1. Legal consultant: offer legal advice to Defibox DIPs so that they meet up the requirement of regulations and laws;
2. Risk consultant: offer advice to DeFi product and relevant parameters for risk control;
3. Safety Consultant: Offer advice on the safety issue of DeFi protocol and satellite protocol;
4. Other types of consultant: depends on the professions of applicants.

Marketing Committee Inclusion Criteria:

1. Key opinion leaders of communities;
2. Independent writers;
3. Media agencies;
4. Representatives of promotions;
5. Defibox

Responsibilities & Rights For Committee Members

1. First Committee members need to pass Defibox official qualification selection. Then by BOX DAO voting, they will be selected up to Rank 12^th to be Committee members according to their professions;
2. Participate Committee meetings, listen to the monthly report and development plan from Board secretary, delivery the information to the community;
3. Improve topics with their professions and convert it into DIP draft for Board;
4. Fulfil duties of Committee members, improve the efficiency and process converting topics into DIPs, participate the management of DAO Forum; guide the community to participate DefiboxDAOtopics;
5. Committee members have the right to run for Board members;
6. Committee members enjoy Committee DAO incentives.

DefiboxDAO Board:

DefiboxDAO Board (hereinafter called “Board”) is consist of 5 members, in which 2 technical members, 1 consulting members, 1 marketing members and 1 secretary

Technical Board Member Criteria:

1. Expertise on DeFi, familiar with swap, lending, stablecoin, etc. Deep knowledge on the combination of DeFi, have judgement on Defibox tokenomics and DIP;
2. Representative of Backup BP and BP on EOS;
3. Experienced on project development, able to develop project.

Consulting Board Member Criteria:

1. Legal consultant: offer legal advice to Defibox DIPs so that they meet up the requirement of regulations and laws;
2. Risk consultant: offer advice to DeFi product and relevant parameters for risk control;
3. Safety Consultant: Offer advice on the safety issue of DeFi protocol and satellite protocol;
4. Other types of consultant: depends on the professions of applicants.

Marketing Board Member Criteria:

1. Key opinion leaders of communities;
2. Independent writers;
3. Media agencies;
4. Representatives of promotions;
5. Defibox

Board Secretary:

Promoted by Development and Operation Team, responsible for Board meeting execution, work report and work plan.

Responsibilities & Rights For Board Members:

1. First Board members need to pass Defibox official qualification selection. Then by BOX DAO voting, they will be selected up to Rank 4^th to be Board members according to their professions;
2. Participate Board meetings, listen to the monthly report and development plan from Board secretary, check and approve Defibox quarter work plan;
3. Fulfil duties of Boardmembers, participate the management of DAO Forum; improve, check and approve the DIP drafts;
4. Each Boardmember has 1 DIP approval right and the same voting right as voters in BOX DAO Vote;
5. Boardmembers enjoy Committee DAO incentives and Board DAO incentives.

Responsibilities & Rights For Board Secretary:

1. Secretary promoted by Execution Team;
2. Secretary has 1 DIP approval right and the same voting right as voters in BOX DAO Vote;
3. Secretary is responsible for daily management of Board: organizing DAO Election, organizing DAO meetings, distributing development task, etc. Fair and open principle shall be followed;
4. Organize the DAO Forum management, assist DAO if necessary
5. Boardsecretary enjoys Board DAO incentives.

Voting:

Each Board member has 1 DIP approval right and the same voting right as voters in BOX DAO Vote; Secretary has 1 DIP approval right and the same voting right as voters in BOX DAO Vote; DIP approval right allows abstention and follow the majority rule; the DIP approval fails if the votes are equal.

Term Period:

DefiboxDAO Election is launched for every 180 days; During the term, if supplementation of Board members is needed, Committee members of corresponding professions will be selected as Board members according to their rank in BOX DAO voting; Supplementation of Committee members is not allowed.

Incentive Mechanism:

When DefiboxDAO is established, part of BOX tokens will be released to reward voters, DIP creators, Committee members and Board members; The token amount and ratio will be determined by Board members and BOX DAO voting; For the voters during the election, if the candidate you vote becomes a Board member, the voter can enjoy the Election Voter DAO Incentive during the term.

Membership

Responsibilities and duties need to be fulfilled as a DefiboxDAO members, otherwise the membership might be lost:

Responsibilities for members: Fulfil Responsibilities for members in DefiboxDAO Charter;

Community obligation: Behaviors that Impair Defibox Community;

For the members of Committees and Board that do not fulfil the responsibilities, it will be notified in DefiboxDAO and Board members will vote to decide whether to deprive of their membership.

Information Disclosure

Defibox Official will examine the real name and relevant qualifications, and only disclose necessary information about candidate qualifications on the DefiboxDAO Election Page.

Election Rule

1. Qualification confirm for applicants

1.1 The candidate have 1000 BOX of any term in BSS (including locked already), and hand in application form;

1.2 Defibox Official will contact the candidate, checking the authenticity of account,contact info and qualifications;

1.3 If selection is passed, the candidate info will be shown inDefiboxDAO Election Page with direction to voting page and necessary information about candidate qualification will be disclosed.

2. Voting Process

2.1 6 Technical Committee candidates will be selected to Technical Committee according their voting rank, 3 Consulting Committee candidates will be selected to Consulting Committee according their voting rank, 3 Marketing Committee candidates will be selected to Marketing Committee according their voting rank; Candidates with top rank 2/1 on different Committees automatically become Board members, in which 2 Technical Board Members, 1 Consulting Board Member and 1 Marketing Board Member.

3. List of winners

Candidates need to pass Defibox official qualification selection. Then by BOX DAO voting, they will be selected up to Rank 12^th to be Committee members according to their professions; they will be selected up to Rank 4^th to be Board members according to their professions; 72 hours after close of voting, the winner list and inauguration will be announced.