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What are the 5 phases of First Governance?

Phase 1

Goal: To set a market price for First Governance via a security-dependent auction whilst ensuring regulatory compliance with U.S. Securities Laws.
An initial auction will be held to determine the first participants in the first market, after which KYC / AML checks will be conducted of the auction winners
Main features introduced:
  • Voting & Market Rewards
  • Earnings Power (EP)
  • Demand Score
  • Competition Score
  • Marginal Cost
SECURITY BUDGET = 10%
No. of markets = 1

Phase 2

Goal: To begin forming a future decentralized democracy with protocol-level voting, as well as establishing communication tooling, committees, group earnings power (GEP), security budget & perpetual auctions.
Main features introduced:
  • Market Earnings Power (MEP)
  • Security Budget voted on by miners
  • Voter Registry & Reward Ledgers published
  • Voters sign up for Discourse & join Committees
SECURITY BUDGET = 20%
No. of markets = 2

Phase 3

Goal: To begin framing decentralized federalism within the decentralized democracy via Market-level voting, as well as incentivizing R&D inside Committees. This phase will also establish Voting & Reward distributions, as well as Founding Miner Rewards
Main features introduced:
  • Markets use Trust-your-Network (TYN) to form their own governance
  • First Founder Rewards awarded
  • Voting Rewards distributed to wallets
  • Committees submit proposals to STORE Labs, Inc.
SECURITY BUDGET = 30%
No. of markets = 3

Phase 4

Goal: To extend decentralized federalism with a Market-level vote on Market Rewards. This phase will also formally establish a global discussion and governance for STORE Governance to perpetually grow itself, with no limitations on size of the network.
Main features introduced:
  • Voters determine how to add future Markets
  • Markets vote on how to allocate Voting Rewards from the Protocol
SECURITY BUDGET = 40%
No. of markets = Unlimited

Phase 5

Goal: To establish cyclical and perpetual competition for Earnings Power while testing trust of the 1 entity 1 vote model, as well as installing macro-level crypto governance.
Main features introduced:
  • First ballot issued for governance in other blockchain projects #GovFi
  • TYN of 1 entity 1 vote facilitated
  • All miners re-bid in an auction for right to participate in markets
SECURITY BUDGET = 50%
No. of markets = Unlimited