X528 Whitepaper

The 528 Order

If approved in majority vote by X528 tokenholders, the Republik may opt to have a governance board that oversees the management of the DAO.
How does it work? Every two years the Republik will hold elections, where Citizens can cast votes to elect three Chancellors and one Overseer to the 528 Order. The primary responsibility of the 528 Order is to manage DAO operations, along with driving future growth and expansion. This is accomplished through the use of voting proposals that are submitted by Chancellors and are voted on by the 528 Order. Any proposals that require the use of the Republik treasury must also be approved in majority vote by Citizens.
As elected representatives of the Republik, the 528 Order is bound by the DAO Constitution and must adhere to its guidelines. To ensure that Chancellors are are always acting in the best interests of the Republik, the 528 Order has an independent Overseer who is elected by Citizens. The sole function of the Overseer is to ensure that all proposals submitted adhere to the Constitution and act in the best interest of the Republik.