Ministries are SubDAOs within the House of Wizards, created to alleviate the dichotomy between decentralisation and execution speed.
For every governance mechanism, a tradeoff must be made between having a large group of signers for diverse perspectives and the ability to execute quickly.
The Forgotten Council has 9 signers across 3 continents, 5 of whom need to approve every action. This is an adequate level of decentralisation for stewarding the funds of the House of Wizards, but it can slow things down when trying to execute smaller and more frequent transactions.
Voter-Fatigue is a common problem in decentralised governance. The Forgotten Council represents and executes the decisions made by all members of the House of Wizards, and is therefore only allowed to spend funds after the wider community of token holders agreed. This not only further lengthens the spending process but can also lead to overwhelming amounts of proposals to be voted on, which leads to less and less participation, making the entire system less useful and secure.
We are therefore introducing “Ministries” as subDAOs that execute on specific pre-approved mandates. Ministries will be smaller multisigs with 4 signers and only 2 signatures required. They get funded by the Forgotten Council after the House of Wizards have voted.
For example, a mandate has been approved to spend 10 ETH on art commissions this month.
The Forgotten Council transfers the 10 ETH to the Ministry of Art.
The Ministry of Art reviews proposals from the community.
The Ministry of Art votes to spend the 10 ETH over the month.
Ministries can and should have more wizards participating than just the multisig signers. Support roles to help organize proposals and liaise with the community will be crucial for a well-functioning Ministry.
Initially, there will be a single Ministry: The Ministry of Art.
It will have the task of efficiently distributing funding and supporting wizard commissions. To start it will have three members of the Forgotten Council as signers on a 2/4 Multisig.
In the future, we will have more Ministries to better funnel community funds to deserving projects. Some ideas around ministries so far are:
If you have ideas or are interested to join any of these Ministries, pls reach out through the #house-of-wizards channel in the FRWC Discord