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Article VI. Amendments

Section 1. Purpose of Amendments

The amendment process exists to ensure that the Huly Foundation can adapt its governance structure and operational procedures to meet evolving needs and challenges while maintaining its core principles and community-driven nature.

Section 2. Proposal of Amendments

  1. Any token holder may propose amendments to these bylaws.
  2. Amendment proposals must include:
    1. The specific article and section to be amended
    2. The proposed new text
    3. A detailed rationale for the amendment
    4. An analysis of potential impacts on the Foundation and Huly ecosystem

Section 3. Amendment Categories

Amendments shall be categorized as follows:

  1. Minor Amendments: Changes that do not significantly alter the Foundation’s structure, purpose, or governance model.
  2. Major Amendments: Changes that substantially impact the Foundation’s structure, purpose, or governance model.

Section 4. Review Process

  1. All proposed amendments shall undergo a mandatory 14-day review period.
  2. During this period, the community may discuss the proposal and suggest modifications.
  3. The proposer may refine the amendment based on community feedback.

Section 5. Voting on Amendments

  1. Minor Amendments:
    1. Require a 60% majority of votes cast to pass
    2. Minimum quorum of 15% of all circulating tokens
    3. Voting period of 7 days
  2. Major Amendments:
    1. Require a 75% supermajority of votes cast to pass
    2. Minimum quorum of 25% of all circulating tokens
    3. Voting period of 14 days

Section 6. Implementation of Approved Amendments

  1. Approved amendments shall be implemented within 30 days of the vote conclusion, unless a different timeline is specified in the amendment proposal.
  2. The Secretary shall be responsible for updating the official bylaws document and communicating changes to the community.

Section 7. Cooling-off Period

  1. Failed amendment proposals may not be resubmitted for 90 days, unless significant new information or circumstances arise.
  2. The DAO may vote to waive this cooling-off period with a 2/3 majority.

Section 8. Emergency Amendments

  1. In cases of critical vulnerabilities or existential threats to the Foundation, emergency amendments may be proposed.
  2. Emergency amendments require:
    1. 90% supermajority to pass
    2. Minimum quorum of 40% of all circulating tokens
    3. Voting period of 48 hours

The shortened voting period for emergency amendments is designed to allow swift action in critical situations while still maintaining community oversight.

Section 9. Limitations on Amendments

No amendment may be made that would:

  1. Violate applicable laws or regulations
  2. Compromise the decentralized nature of the Foundation
  3. Alter the total token supply or distribution model outlined in Article IV, except through the predefined burning mechanism

Section 10. Documentation of Amendments

  1. All proposed and passed amendments shall be recorded on-chain for permanent reference.
  2. A public changelog of the bylaws shall be maintained, detailing all amendments with dates and rationales.

Section 11. Regular Review of Bylaws

  1. The Foundation shall conduct a comprehensive review of these bylaws every two years.
  2. This review process shall involve community input and may result in proposed amendments to improve governance.

Section 12. Interpretation of Bylaws

  1. In case of disputes over the interpretation of these bylaws, the DAO may vote to provide an official interpretation.
  2. Such interpretive votes require a 2/3 majority to pass and shall be binding until amended.

Section 13. Severability

If any provision of these bylaws is held to be invalid or unenforceable, the remainder of the bylaws shall continue in full force and effect.