Factland DAO

Factland is a progressively decentralizing organization, loosely defined currently as a DAO. The end state for the DAO is envisioned as a collective governance body made up of the Factland Foundation, FACT holders, GFACT holders, and the protocol's client teams. It's possible that one person could be a member of all four groups.

The founding team believes that any system of determining truth will break down if it's not also owned and governed by its participants. Immediate and total decentralization works for some simple systems like Bitcoin or Ethereum, but Factland has many untested game mechanics that need to be explored and iterated on quickly until some basic defaults are established.

The founding team aims to be an efficient conduit of community will, yet also ensure that what is unique about Factland's potential is preserved and protected from bad actors. Therefore a gradual decentralization will see more and more power distributed to the community over time.

To avoid many of the pitfalls we've seen so far with decentralized governance, we are separating our governance tokens from financial incentives to ensure the people who have added the most value to the Protocol have the most say over its future.