Our mission is to reclaim the world’s information and enable access to unbiased and unmanipulated data.
This is not an empty promise, but the driving force behind every step that Timpi takes. Our decision-making process around company ethics and direction must involve our community. Timpi is powered for the people by the people. It is no question, thus, that the governance of Timpi must be by the people as well. Therefore, we decided to become a TAG.
What on earth is a TAG, and why not be a DAO (Decentralized Autonomous Organization)? You may wonder.
Let’s address the latter first.
We have all seen the rise of DAOs in popularity in the last year or so. Every project and their grandmother used the acronym DAO to define their crypto projects. Often, yet, these projects were not DAOs at all.
Why not a DAO?
Herein lies the first reason we are wanting to steer away from being a DAO. Because of its misuse, there is no clear definition in people’s mind on what it is.
Secondly, this decision is to do with our long-term vision of Timpi. We envision Timpi as a worldwide organization and this comes with inevitable regulations.
It is uncertain whether DAOs currently follow the European MiCAR (Markets in Crypto assets) Regulations. Currently in the eyes of many EU leaders, a DAO is not a legal structure and as such might not be able to enter the EU market. Our compliance with international crypto legislations must be watertight to be a global player. The EU is the 3rd largest economy in the world and thus essential for Timpi’s success.
Now onto TAG.
What is TAG?
TAG stands for Timpi Autonomous Government. TAG has a similar structure to a DAO with the difference that it has a registered business attached to it. Timpi along with the community share the governance of Timpi. Every Timpi token holder can create proposals to make changes in the organization.
How will TAG work?
As you can see from the above graph, we will use multistage voting. The reasoning being that direct voting can miss challenges that some proposals present. Every proposal will go through three stages. This will ensure that risks, opportunities, and implications of a proposal are considered by both the community and Timpi. This ensures that we can all make an educated decision at the final stage of the process.
TAG decision making & implementation process
- Any Timpi token holder can propose an idea or change request via Timpi Portal.
- The Dialog Club discusses the new proposal.
- Every Timpi token holder can vote to support or decline a proposal.
- The proposal passes if a) after 5 days there is a vote in support of the proposal OR b) if the fast-track option is utilized, a vote must be taken within 24hrs. In both cases, voter turnout must be AT LEAST 10% of all circulating tokens.
- Once a proposal passes it gets passed to the Focus Collective.
- When the proposal passes to the Focus Collective a 10-day timer starts. The Focus Collective and the Governance Chamber have 10 days to make their decision. If the timer expires without a decision the request is closed.
- In the Focus Collective, community members and Timpi can offer their expertise. Together they identify implications, viability and make suggestions on proposal implementation. They also create an impact and risk analysis for the Governance Chamber. This helps in making the final decision (taken in the Governance Chamber) an educated one.
- There are 12 elected community members and representatives in the Governance Chamber. It makes the final decision. Voting ensues and the proposal passes if there is a majority vote.
- Once a proposal is approved, the Administrative Group coordinates & executes the change.
Governance Chamber Elections
To nominate a candidate or yourself for an election, you must hold Timpi tokens. You can read more about the exact election process HERE in our Whitepaper. The most important thing you need to know is that Timpi doesn’t take part in voting, and neither can Timpi members be nominated. The 12 seats are for community members, or for candidates chosen by community members (if elected).
Our vision centers around community
It is important that Timpi is a community driven, unbiased, and decentralized search engine. Achieving this is no easy feat, but, with the TAG, multi-voting structure it will be possible. We want to empower our users and community to take an active part in shaping Timpi’s future. Timpi represents exactly the opposite of all the other search engines on the market. We are a grassroots organization. For the people by the people.
What does this mean for you?
If you hold Timpi you are part of its decision-making process. You will be able to influence the future of the search engine (and eco-system). You have the chance to make an impact. Timpi won’t be able to push through decisions that are not supported by the community — this means that you can trust that your voice will be heard. Further, because you can only vote if you have Timpi, there will be an incentive to hold Timpi. This in turn will have a positive impact on Timpi’s price, due to its limited supply. This means that early adopters and supporters of the $TIMPI token will be rewarded as the project grows.
We hope that you join us in our vision for a decentralized, unbiased, and self-governing future.