This post details the steps The DAO community will take to adopt the updated version of the DAO Framework covered in my previous post.

1 — The first step will be for The DAO’s community, Curators, security experts etc to review the body of work that forms the DAO Framework 1.1. At the end of a two week review, if no issue is outstanding, we can proceed to step 2.

2 — The new DAO contract is deployed by the community and Curators are asked to whitelist the new contract address. New DAO contract Proposals are no different from any other Proposals and need to be vetted by the Curators to have a valid bytecode.

3 — Once the contract is whitelisted, DAO Token holders will vote on whether to approve the upgrade or not. Again, all the safeguards and governance mechanisms associated with Proposals apply.

4 — Once the new contract is approved, and before DAO Token Holders can vote on new Proposals, they will need to follow a simple wizard provided as part of our Mist dao-dapp. Dao-dapp is the open source application that powers vote.daohub.org and it can be also integrated as part of 3rd party sites including myetherwallet.com.

Impact on DAO Token Holders

The trading of DAO tokens will not be affected by an upgrade to Framework 1.1

be affected by an upgrade to Framework 1.1 The funds within The DAO are not affected by an upgrade to Framework 1.1

affected by an upgrade to Framework 1.1 Some form of DAO Token Holder involvement is required before they will be able to vote on DAO (v.1.1) Proposals but there is no time limit for such action to be taken.

Any existing Proposal changing the parameters of The DAO (v1.0) will be reflected in The DAO (v.1.1) only at the discretion of the community members instantiating the new code and the Curators accepting the bytecode.

TL;DR: as a DAO Token Holder, there is no impact besides having to press (at most) two buttons next time you vote on a Proposal as part of The DAO (v1.1)

I personally find the evolution of the DAO fascinating and will be sure to give a detailed account of events on this blog. Of course, throughout the entire process, you’ll be able to keep abreast of the progress and any changes on the github repository blow-by-blow, The DAO’s forum, and of course The DAO’s very active Slack.