Date: [2026-05-06]

Related links: BOB DAO Governance Charter  https://docs.gobob.xyz/documents/bob-dao-charter-v1-1.pdf

1. Summary

This proposal asks the BOB DAO to formally ratify the BOB DAO Charter as the community's binding governance framework. The document defines the DAO's mission, governance process, proposal types, delegate system, multisig structure, and fund management. Ratification turns this document from a draft into a mandate from token holders, establishing community ownership of the rules under which all future DAO decisions will be made.

2. Motivation

During the Token Generation Event for BOB, The BOB Foundation committed that $BOB token holders would have governance rights over the protocol, with BOB DAO Delegation live from Day 1.

The on-chain infrastructure to deliver on that commitment is now operational at https://gov.gobob.xyz - delegation, voting, and proposal submission all work.

What has not yet happened is formal community endorsement of the governance framework itself: the mission, the proposal process, the multisig structure, and the rules governing treasury decisions.

BAP-001 is intentionally the first proposal. It fulfils the Foundation's original commitment by putting the governance framework to a community vote, making token holders - not any single entity - the source of legitimacy for the rules. Every future proposal, whether it allocates treasury funds, upgrades the protocol, or modifies governance itself, depends on this foundation being in place.

3. Current State

The BOB DAO Charter exists as a working document authored by the Foundation. The document has not been put to a community vote and has not been formally ratified by token holders.

4. Proposed Change

This proposal asks the community to formally adopt the BOB DAO Charter as the binding governance framework for the DAO.

The document covers:

• Mission: The BOB DAO exists to accelerate the adoption of Bitcoin as global financial infrastructure for the masses - spending, saving, borrowing, earning, everything - with trust built into protocols, not manufactured through layers of intermediaries.

• Core pillars: Bitcoin global financial infrastructure (Gateway, Vaults, consumer products), Technical (protocol infrastructure, smart contracts, security), and Growth & Ecosystem (integrations, partnerships, community programs).

• Governance process: A four-stage cycle - Discussion, Proposal Submission, Voting, and Implementation - with defined thresholds (0.07% of total supply to submit, 0.5% of total supply for quorum, >50% to pass, 7-day voting period.

• Proposal types: All proposals related to BOB will be referred to as BOB Acceleration Proposals (BAPs). Under which there are 3 types of BAPs: Spending Proposals (treasury allocations), Technical Proposals (technical upgrades), and Governance & Structural Proposals (changes to the framework itself).

• Delegate system: Open registration, permissionless delegation, and three focus areas (Bitcoin financial infrastructure, Technical, Growth & Ecosystem).

• Multisig: A 4-of-5 multisig wallet securing DAO funds, composed of a Foundation Director, two active community members, a financial expert, and a technical expert. The multisig executes approved proposals and holds veto authority over malicious or harmful actions.

• Future governance: The framework is designed to evolve. Structures, roles, and processes can be adapted through future Governance & Structural Proposals as the community's needs change.

• The full BOB DAO charter can be reviewed here: BOB DAO Charter No transitional arrangements are required. The governance infrastructure is already operational; this proposal formalises community endorsement of the rules governing it.

5. Rationale & Alternatives

Every DAO needs a starting point - a baseline set of rules the community agrees to operate under before it begins making decisions. Without this, there is no shared reference for what constitutes a valid proposal, how votes are conducted, or who has authority over funds.

Ratifying the governance document as the first BAP ensures that the community - not any single team or entity - is the source of legitimacy for the framework. It also sets a precedent: governance structures at BOB are not imposed, they are proposed, discussed, and voted on like anything else.

Alternative approaches were considered, such as launching governance without a formal ratification vote and simply treating the framework as accepted by default. This was rejected because it undermines the principle of community sovereignty that the DAO is built on. A second alternative - ratifying individual sections of the document through separate proposals - was considered but deemed impractical and too time consuming for a lean DAO, as the components are interdependent.

6. Impact on Stakeholders

• Token holders: Gain a formally endorsed governance framework that protects their interests and defines how their voting power is exercised.

• Delegates: Receive a clear mandate and defined responsibilities for how they represent token holders and participate in governance.

• The Foundation: Transitions from being the sole author of governance rules to operating within a framework endorsed by the community.

• Multisig members: Their composition, authority, and responsibilities become formally ratified, including the 4-of-5 threshold and veto power.

• Builders and ecosystem participants: Gain clarity on how to engage with the DAO - how proposals work, what gets funded, and where to contribute.

7. Implementation Notes

If this proposal passes, the BOB DAO Charter becomes the official, community-ratified governance framework. No on-chain parameter changes or smart contract deployments are required.

All future proposals, votes, and treasury actions will be governed by the rules set out in the document. Any changes to the framework itself would require a new Governance & Structural Proposal and community vote.

8. Precedent & References

Ratifying a governance framework or constitution as the first community action is standard practice among well-governed DAOs. Comparable precedents include Arbitrum's AIP-1 (ratification of the Arbitrum DAO Constitution), Optimism's Working Constitution, and ENS DAO's foundational governance proposal. Each of these established the baseline rules before any spending or technical decisions were put to a vote.

9. Risks & Unintended Consequences

Scope of ratification: Token holders may interpret ratification as endorsing every detail of the document rather than the framework as a whole. The community should understand that individual parameters (thresholds, multisig composition, etc.) can be modified through future proposals without re-ratifying the entire document.

10. Conflicts of Interest

The author has previously worked with the BOB Foundation as an evangelist and community contributor. This involvement included supporting community growth and communications around the project.

The author is not directly compensated based on the outcome of this proposal and does not receive additional financial benefit if this proposal passes.

The governance document being ratified was originally authored by the Foundation, and the author’s views may be aligned with the Foundation’s perspective.

11. Community Feedback Summary

After a productive discussion, four main amendments have been made to the BOB DAO Charter before proceeding to the governance vote:

Section 7 on proposal types has been amended to explicitly state that proposal authors are required to commit to measurement and reporting on progress and the usage of any funds allocated by the BOB DAO.

Section 8.1 on multisig responsibilities has two amendments. The first provides more detail on the execution of approved proposals - detailing that the multisig will make best efforts to execute any transactions within 7 days of the vote concluding, although some allowance needs to be made for coordination across multiple signers and multiple timezones.

The second amendment in section 8.1 provides additional detail on the multisig’s veto authority. It now explains that the multisig can, in extreme circumstances, act without going through governance - but any such action must be disclosed publicly within 48 hours and a full explanation submitted to the governance forum within 7 days.

Section 8.2 on multisig composition has been updated to explain that the two community members representing the DAO in the multisig will be rotated over time following governance approval.