By introducing a decentralized community treasury, community governance will be key to IOTA‘s future success. IF is congruent in standing by the sidelines not pushing the governance discussion in any direction, since community governance should be:
- Safe
- Truly decentralized
- Transparent
- Permissionless yet not effortless.
In order to secure a long lasting and fruitful governance approach an IOTA community constitution should be established regulating who participates how, how representatives in the community are selected, who pics lead members of boards, which majorities apply and how decision can be corrected if they lead to undesired consequences.
Alternatives?
Other ecosystems like Cardano have longer experiences with community governance (project Catalyst) and came to the same conclusion - yet due to their peer-reciew-based approach, a constitution is not in sight yet and IOTA could be the first decentralized community with its own constitution.
Approach
In order to ensure the constitution to be exact, understandable and viable, a team of crypto experts, computer scientists and constitutional lawyers with knowledge about decentralized systems should elaborate the first draft and put it to a community vote. Just like the US constitution it should be lean and contain only the guiding mechanisms and principles to be later enhanced by amendments.