C.O.C Overview

The oversight committee was requested by the Board of Investors and created as a measure to bring transparency to the relationship of the BOI to the Axion community. They ensure that ethical practices are being performed on a daily basis. All COC members commit their time to attend board meetings, read daily agendas and discuss the ethics of each decision.

Each member adheres to the strict compliance one must take to ensure dissociation of board agendas. They must oversee the board of investors and interject if they take actions that the COC finds to be against the interest of the community / destructive for the community/project. Ideally, at least 1 COC member has attendance at each of the BOI’s meetings.

The oversight committee must consist of five members at all times to ensure that COC votes about BOIS’s actions are handled in a decisive manner. The community must use the DAO voting system to select each new candidate. Each vote should last 3-6 months, with the chosen candidate to be vetted. Should a member leave within this timeframe, the next qualified candidate will begin a vetting process.

COC members, with the exception of voting rights on board initiatives, will be seen as BOI members and will be granted access to all BOI functions and benefits. Members can opt to not receive any benefits or compensation.

C.O.C Rules

  • All COC members shall hold less than 70mm AXN. If this number is exceeded, the member either needs to join the BOI or leave the COC.

  • All COC members must have at least 50% staked for max shares.

  • All sales of AXN during their tenure must be made through board OTC (Over the counter) transactions and cannot be sold on the open market.

  • No members are allowed to vote on any board initiatives, nor are they allowed to influence votes out of self-interest.

  • Signing an NDA is required.

  • A member can be voted to leave when the other 4 members agree unanimously. This may occur, for example, due to inactivity.

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