Custodianship

## OVERVIEW

As a Candidate, an Explorer has the opportunity (via successfully campaigning for the position) to become 1 of 5 Planetary Custodians. Each week the DAO of each Planet will automatically ascribe to the 5 Candidates with the most Vote Power signatory powers over the Planetary Custodian Wallet.

In cases where Candidates are tied for Vote Power, the Candidate with the “freshest” vote power would be ranked higher. For example, if two Candidates both have 20,000 Vote Power, but one has an average Freshness of 10 days whilst the other has a Freshness of 60 days, the Candidate with the 10-day Freshness will be ranked higher.

Custodians have a specific badge denoting their Custodianship on a particular planet.

Custodians also have access to a special dashboard that allows them to manage the various aspects of their Custodianship.

**1) Activate Budget**

* The button to begin the weekly spending budget claim process.

**2) Proposal Form**

* This is the form allowing Custodians to create new Proposals.

**3) Pending Proposals**

* Any Proposals that are currently awaiting approval by at least 3 Custodians are here, along with buttons indicating different states.

**4) Executed Proposals**

* A list of successfully executed Proposals.

**5) Expired/Cancelled Proposals**

* Proposals that were either rejected or expired without meeting the 3-vote minimum for execution.

## CUSTODIAL PRIVILEGES

Custodians will initially be granted three privileges as part of their role.

### Budget Activation

Each week, Custodians must claim the spendings budget, which is the TLM that will be transferred from the Planetary reserve to the Custodian Wallet. This activity is necessary to facilitate the other privileges granted: Proposals & Payouts.

**1) Activation**

* Activating the POT requires only one Custodian, and this begins the approval process.

**2) Approval**

* Budget activation is set up as a Proposal and goes into the pending list. The deposit requires 3 out of 5 Custodians, like any other Proposal.

**3) Claim POT**

* Any Custodian (whether they approved the deposit or not) can then claim the POT by executing the Proposal. Once this is completed, the “Activate Budget” button will be replaced with “Budget Claimed”.

### Proposals - Creation

Any of the five Planetary Custodians has the ability to create a Proposal using the form. At this point, Proposals are focused on the distribution of TLM from the Custodian Wallet to other Wallets as a payout for activities related to Planetary Governance that are outlined in that Proposal. For example, a Custodian could create a Proposal to distribute an amount of TLM to a specific Citizen as payment for designing a logo for the Planetary Syndicate.

*NOTE: The TLM in the Custodial Wallet does not have to be completely spent each week. Custodians can accrue larger sums of TLM to spend on more complex and expensive proposals.*

### Proposals - Voting

Once created and signed/opened, a Proposal is listed as “Pending” and will require approval by 3 of the 5 Custodians. Once the required number of approvals has been met, then as with POT activation any of the five Custodians can “Execute” the Proposal, at which point it will be transferred from being “Pending” to “Executed”. Any Proposal that fails to meet the approval requirements or be Executed within a specific time period, will then be moved to the “Expired” list.

## RESIGNING CUSTODIANSHIP

An active Custodian is able to resign their Custodianship for any reason at any time.

This option is available via the Candidacy Management dashboard (1) , and clicking the "Resign Custodianship" button (2) will trigger an overlay to ensure the Custodian actually wishes to resign.

Upon resigning, a Custodian is blocked from becoming a Custodian for a period of 1 week. The empty Custodial position(s) will automatically be filled by the Candidate(s) next in line in terms of vote power, in order to maintain a 5-Custodian complement for each Planet.