VDP-100 (Fractionalization of Newcastle-Korolchuk IP-NFT)

using a smart contract:

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The token class of “Molecules” is minted using the smart contracts in the Molecule Protocol built by Molecule–this is a logical flow.

This is the goal of granular governance through VITA-0001 Molecules: for the VITA-0001 community to vote and determine the fundraising targets for future sales to satisfy the needs of the research for this product, and voting on whether to distribute additional allocations to researchers.

By narrowing governance of the project down to holders of VITA-0001, we help to prevent the kind of “tragedy of the commons” much DAO governance often suffers from, where broad governance of all token holders to vote combined with voter apathy results in lack of progress.

By way of analogy to network states, look at VitaDAO as a whole as the “country” where all the citizens vote on matters important to the country as a whole and the look at VITA-0001 (and other Molecules minted from the Molecule Protocol such as VITA-0002, VITA-0003, made from VitaDAO’s other IP-NFTs) as the “municipality.” Only residents of that municipality can vote on municipal matters. A person can be both a citizen of the country and a resident of the municipality, but not every citizen of the country is a resident of that municipality. Municipal residents should govern what happens within their municipality. Importantly, progress in that municipality resulting from the work of municipal residents doesn’t happen in a vacuum: it benefits the country as a whole. And anybody who is a citizen of the country can move to that municipality if they want to reside there and help govern it.

The proposal has passed phase 2 and is now voting live on snapshot!