LooksRare DAO

LooksRare DAO

Looking ahead, we hope that the community of LOOKS holders is comprised of a diverse field of developers, professionals and supporters of the project to develop the LooksRare platform (including without limitation experts in software development, blockchain technology, cryptography, artificial intelligence, law or finance), which will be able to share and exchange balanced views on the overall direction of the project. To promote decentralised community governance for the protocol, LOOKS would allow holders to propose and vote on governance proposals to determine future features, upgrades and/or parameters of the LooksRare protocol, or provide feedback, with voting weight calculated in proportion to the amount of tokens held. The right to vote is restricted solely to voting on features of the LooksRare protocol; it does not entitle LOOKS holders to vote on the operation and management of the Company, its affiliates, or their assets or the disposition of such assets to token holders, or select the board of directors or similar bodies of these entities, or determine the development direction of these entities, nor does LOOKS constitute any equity interest in any of these entities or any collective investment scheme; the arrangement is not intended to be any form of joint venture or partnership. After governance launch there will be no individual or corporate entity or other active promoter, sponsor, or group or affiliated party that maintains sole control over the LooksRare protocol. The LooksRare protocol would gradually introduce mechanisms (with certain voting and technical safeguards) enabling any party unaffiliated with the LooksRare team to modify/upgrade the functionality of the smart contracts or protocol, or to participate in other essential task and responsibilities. In this way, future changes to the system or network would be driven by active participants of the protocols themselves (instead of the original LooksRare team) based on community voting.