In order to achieve the goal of ecological development and asset management and promote the Nebulas into the “autonomous metanet” the founding team of Nebulas will form the “Nebulas Community Group” together with the community. During the formation process, each organization’s source of legitimacy of power, organizations, and power boundaries will be strictly stipulated, and the three parties will be constrained by one another. The three major organizations that are comprised of “Nebulas Community Group” are:

Nebulas Council Nebulas Foundation Nebulas Technical Committee

To ensure the independence of the three organizations and maintain checks and balances between them, there are two fundamental requirements:

The restraint of people power: All organizations are open to participants within the Nebulas community and a community member cannot hold a position in more than two organizations at the same time. The restraint of organization power: Any organization does not have the power to make independent decisions and use public assets without the oversight of the other organizations.

If it’s necessary to introduce new principles, the three organizations must always be guaranteed to operate independently and constrained by one another.

This community consultation draft will outline the basic rules of the composition and term of office, powers and obligations, election methods of the organizations mentioned above and the first Nebulas Council election schedule.

If you have any questions, please post on Nebulas Forum (with tag#meta) one week before the nomination period of the first Nebulas Council Election and welcome to follow our twitter(nebulasio).

1 Nebulas Council

The Nebulas Council oversees the Nebulas governance process and the use of public assets of the Nebulas community to provide a scale advantage for the ecological development of the Nebulas.

1.1 Directors

The first directors of the Nebulas Council will comprise of 7 seats; of which 3 seats will be nominated by the Nebulas Foundation and 4 seats will be elected via on-chain public voting within the community.

The numbers of nominations for the Nebulas Foundation are reduced by at least one seat every two years. After 6 years, the Nebulas Foundation can no longer nominate seats.

1.2 Power

The Nebulas Council has the power to submit a proposal for a “second vote.” Appoint organizations such as the Nebulas Technical Committee or individuals to handle public affairs of the Nebulas community.

1.3 Obligations

Supervise the governance process. Supervise the safety of public property such as community reserve funds.

The Nebulas Council should ensure that the governance processes and the use of community public property are open and transparent. These methods include but are not limited to:

Regularly updated asset use and community development through quarterly reports and other disclosure materials to the communities. Any technical upgrades, project application rejection, re-voting, etc. and should be announced in a timely manner. All personnel elections and appointments should be announced on time.

1.4 Term of office

The directors of the Nebulas Council has a term of two years and can be re-elected once their term is over.

Community members have oversight of the Nebulas Council. The directors of the Nebulas Council must comprise a report of their duties for their full term. The community will conduct a mid-term vote based on the submitted report to determine whether each Nebulas Council director can continue to serve.

If the director of the Nebulas Council fails to pass the midterm vote, the Nebulas Technical Committee will organize and supervise the election of a replacement Nebulas Council director. The directors who passed the mid-term review temporarily complete the daily affairs of the director who was removed until the election of the new Nebulas Council director is completed.

1.5 Election method

Except for the directors of the Nebulas Council nominated by the Nebulas Foundation, the directors of the Nebulas Council are elected through public on-chain voting. All members of the community who have at least one address on the Nebulas Mainnet have the right to vote and to run for a seat on the council.

The first Nebulas Council election program was proposed and will be supervised by the Nebulas Foundation. Future changes and iterations of the process must be performed through public on-chain voting.

1.6 Income

Total revenue

10,000 NAS distributed over the 2-year term as described below.

Income distribution

The revenue will be issued once every six months (four times in two years). The amount of each distribution every 6 months in order is: 1,500 NAS,2,000 NAS,3,000 NAS, 3,500 NAS (totaling 10,000 NAS). If the mid-term vote is not passed, the latter two payment will not be released.

Financial requirements

To ensure the best interests of the economy and the continuity of the Nebulas Council, the director of the Nebulas Council must deposit 100,000 NAS into collateral for the initial 6 months of their term.

2 Nebulas Foundation

The Nebulas founding team was formed June 2017; later, the Nebulas Foundation was established to take charge of the Nebulas team and their options, to ensure the normal operation of the project and to realize the development roadmap promised in the Nebulas White Paper (2017).

After all the technical points in the Nebulas Whitepaper are fully completed, the Nebulas Foundation will manage Foundation’s assets, pool resources, and use the capital to provide efficiency advantages for the ecological development of Nebulas.

2.1 Members composition

The directors of Nebulas Foundation have no less than 5 seats, including one chairman of the Nebulas foundation and one chief secretary.

2.2 Power

Participate in the election of the chairman as well as the right to be elected. Participate in decision making in items such as foundation development and investment.

2.3 Obligations

Manage the assets of the Nebulas Foundation ( see Nebulas Asset Management Program for details). Once a year, Nebulas Foundation directors report to the Nebulas Council and continue to serve the Nebulas ecosystem.

2.4 Term in office

The members of the Nebulas Foundation are appointed for a one year term. Afterwards, they are eligible for re-election.

2.5 Inclusion method

Directors of the Nebulas Foundation

The Nebulas Foundation adopts a capital-based entry system and all who receive the option reward to a certain amount are automatically eligible to become a Foundation Director. Subsequently, all eligible members have the option to waive becoming a Foundation Director. If there are less than 5 members within the Board of Directors of Nebulas Foundation, they will be ranked according to their option reward.

Chairman of the Nebulas Foundation

The chairman of the Nebulas Foundation is elected anonymously among current members of the Nebulas Foundation. Each member of the Nebulas Foundation has the right to vote and to be elected.

To become the chairman of the Nebulas Foundation, a member must receive a minimum of 50% of all casted votes. If voting takes place and none of the directors receive 50% of the votes, those with either no votes or the minimum amount of votes are eliminated and voting will be restarted until a member receives an approval rating of 50% or greater.

Chief Secretary of the Nebulas Foundation

The Chief Secretary of the Nebulas Foundation is appointed by the Chairman among current members of the Nebulas Foundation.

Recall

The Nebulas Foundation can remove any member of the Nebulas Foundation through internal resolutions and the results must be disclosed to the community.

The removed member(s) of the Nebulas Foundation has the right to address to the community publicly and call for a public, on-chain vote to request a revote for reinstatement from the directors of the Nebulas Foundation.

2.6 Income

Total revenue

Nebulas Foundation Salary and relevant option reward. Enjoy the benefits of investing within the Nebulas Foundation’s eco-investment, etc.

Financial requirements

To ensure the best interests of the economy and the continuity of the Nebulas Foundation, official entry requires 50,000 NAS collateral deposit which is unlocked after 6 months.

3 Nebulas Technical Committee

The Nebulas Technical Committee was established in September 2018. Since its establishment, the Nebulas Technical Committee has been adhering to the spirit of openness, sharing and transparency and is committed to promoting the decentralization and community collaboration of the research and development of Nebulas technology. Blockchain technology opens up possibilities for building new, self-motivated open source communities. The Nebulas chain’s value discovery system, self-evolving capability, and self-motivated technical concepts provide a guarantee for building a world of decentralized collaboration. The Nebulas Technical Committee will fully complete the realization of the Nebulas vision.

Since the establishment of the Nebulas Council, the Nebulas Technical Committee, composed initially of core members of the Nebulas team will complete its historical mission and transform into a community-based organization. Entrusted by the Nebulas Council, the Nebulas Technical Committee is responsible for the productivity and quality verification of the Nebulas project, providing technical guidance and support to the community.

3.1 Member composition

The number of Nebulas Technical Committee members is not limited.

Before the completion of the first election of the Nebulas Council in 2019, the Nebulas Technical Committee is temporarily represented by a member of the Nebulas team. After the election of the first Nebulas Council, the Nebulas Technical Committee will begin its formation.

3.2 Power

The power to initiate and review of community proposals. Enjoy the honor of being included in a team of experts in Nebulas technology.

3.3 Obligations

Quality supervision of community proposals.

3.4 Term of office

Members of the Technical Committee will serve a one year term and may be re-elected afterwards.

3.5 Inclusion method

The technical committee adopts a combination of self-recommendation and community recommendation which are publicly reported to the community. The appointment will be organized by the Nebulas Council.

3.6 Income

Total revenue

Commission (issued monthly) Consulting fee for project review and supervision

Financial requirements

To ensure the consistency of the interests of the economy and the continuity of the Nebulas Technical Committee policy, members of the Nebulas Technical Committee require 25,000 NAS in collateral when they formally join the committee. The collateral is returned 3 months after dismissal from the committee.

Appendix: The timeline of the first Nebulas Council election in 2019

April 2019 — Nomination Period: Community members are free to register and publicly explain their contributions, governance concepts, and programs they wish to operate and initiate. May 2019 — Promotion Period: Nebulas Council candidates can organize their own mobilization in the community. June 2019 — Election period: public, on-chain voting elections.

The registration timeline and method for the Nebulas Council will be announced after the publication of this document and request for comments.