Quick Summary
Summary:
The distribution of the $KARRAT governance token decentralizes governance of the KARRATco.
$KARRAT tokens can be used to vote on KARRATco governance proposals, allowing $KARRAT holders to shape the KARRAT Protocol’s future together.
Token holders will be able to delegate their voting power to delegates.
You can become a KARRATco delegate by engaging with the KARRAT community and convincing $KARRAT holders to delegate their votes to you, or by holding $KARRAT yourself.
What is KARRAT again?
The KARRAT Protocol is a decentralized gaming infrastructure layer, supported by $KARRAT and empowered by a truly decentralized community with a shared vision embracing gaming, entertainment and AI products catering for the new era.
The distribution of $KARRAT governance tokens decentralizes governance of the KARRAT Protocol. $KARRAT tokens can be used to vote on KARRATco governance proposals, allowing $KARRAT holders to collectively shape the future of the KARRAT Protocol. Token holders can also delegate their voting power to delegates.
What's governance?
Governance is simply the way that decisions get made in most organizations. Simple if you have a voice and can get it heard, but not so simple in the traditional ‘Web2’ industries where decision making isn't always visible or transparent. This has long been an issue in the Gaming and Entertainment industries that often operate in silos and communities do not have a say until it is too late.
KARRATco formation: The KARRATco is a new collective with decision-making authority. The KARRATco is governed by The Constitution of the KARRATco, which is a set of rules that describe how the KARRATco will operate.
Token launch: Ownership of $KARRAT tokens represents membership within the KARRATco. Token holders can vote on proposals. $KARRAT will be distributed to eligible wallet addresses via an upcoming airdrop.
Code: KARRATco governance is usually facilitated by a series of smart contracts that enforce a specific decision-making protocol. KARRATco uses smart contracts to codify the decision-making protocol articulated within The Constitution of the KARRATco.
Is there an airdrop?
There will be a claim for genesis My Pet Hooligan NFT holders. Eligibility and requirements will be able to be checked soon.
What sorts of proposals or decisions can the KARRATco make?
The KARRATco is completely decentralized and decision making is fully community based. There are two forms of decisions that can be made, constitutional decisions and non-constitutional KIPs. Proposals are not limited to the below, but just some examples of what could be brought through KARRATco, e.g.:
Establishment of incubation funds for gaming projects, studios and development projects
Funding of community projects and rewards
Development of infrastructure solutions for gaming and entertainment ecosystems
Development of a feature film for a Web3 native IP
Establishment of alliances with esports organizations
Development of partnerships with gaming and entertainment studios their title projects
Building content delivery networks
Promotion of innovation challenges
There is a lot of power to harness. The community will drive proposals and decision making and therefore the direction of the KARRATco.
What is a delegate?
A delegate is like an elected representative. $KARRAT token holders can delegate their voting power to delegates.
Why would I want to become a delegate?
Not all community members will have the time or ability to actively participate in governance. Delegates help these people by offering to vote on their behalf.
Delegates are a critical component of KARRAT's decentralization. Becoming a delegate is a responsibility that requires commitment and effort.
I'd like to participate! What are my options?
Select a delegate to vote on your behalf. Choose this option if you're too busy to regularly vote on KARRATco proposals.
Self-delegate to vote directly on KARRATco proposals.
Become a delegate to vote on behalf of token holders who entrust you with their voting power. Great for the community's most passionate evangelists.
Participate in governance discussions on the KARRATco governance forum.
Where can I learn more?
You are in TLDR, go read the rest of the docs for more information.
