Upgrade Authority

In the context of a DAO, an Upgrade Authority may be responsible for modifying the DAO's smart contracts in order to add new features, fix bugs, or make other changes to the organization.

An upgrade authority is a system that is built into the blockchain itself, and is designed to enable stakeholders to vote on and approve proposed upgrades. This authority may be implemented in the form of a smart contract, which is a self-executing contract with the terms of the agreement between the parties directly written into code.

GigaDAOUpgrader

The GigaDAOUpgrader is the name for the open source upgrade authority used by GigaDAO. It enables full transparency to the DAO in that any upgrades or changes to the code must be pushed through the GigaDAOUpgrader and voted on by the DAO.

The GigaDAO treasuries are also gated behind our Upgrade Authority with 100% from GigaDEX and all other services behind deposited directly into the DAO Treasury. At no point in time can this treasury be withdrawn from unless there is a passing vote by GigaDAO members.

Passing Votes

During Phase 1 of the DAO, in order to pass votes quickly, a passing DAO vote has been reduced enough to ensure speedy work but also high enough to prevent unilateral decisions. The current vote required is:

110 Million GIGS

Our open source upgrade authority can be found here: https://github.com/AlphaPrime8/GigaDAOUpgrader