The CryptoHippos community governs itself in a decentralized fashion. This is accomplished through an industry-leading platform, snapshot.org. The main goal of this project is to show that sustainable businesses can be established/operated without a central authority. Without this concept, we see a lot of barriers to entry and gatekeeping in various business models for the average human. This could be due to a disparity in capital, knowledge, or many other reasons. These problems can be transcended using NFTs and the Ethereum blockchain. Communication between a large community of people in a business operating context is vastly improved. Proposals will be the building block of governance for CryptoHippos. Holders of CryptoHippos tokens will be able to participate in governance by voting on a platform that verifies their ownership of a CryptoHippo.
There will be two main types of proposals:
HIP(Hippo Improvement Proposal) - This is a blanket category of proposals that do not deal with a tangible transfer/allocation of financial assets. A HIP is proposed to improve the community and how it operates in some way, whether from an infrastructure standpoint or relating to a specific business activity. An example of a HIP would be a proposal to suggest a weekly time that all holders meet at virtually in order to discuss old/new business.
HFP(Hippo Financial Proposal) - This is any proposal that involves allocating community funds in some way. An example of a HFP would be the community deciding to swap 33% of assets to a stable-coin like USDT, in order to mitigate price risk of Ethereum.
Through various HIP’s the community has decided that each proposal will be available to vote on for 48 hours with a minimum quorum of 1000 votes. Each CryptoHippo token counts as one vote so if a wallet holds 5 CryptoHippos that means it can cast 5 votes towards a proposal. Some proposals will be a simple yes/no/abstain while others will have more complex options.