- Blockchain — A decentralized database with a cryptographic guarantee of information immutability;
- Token — A unit of account whose transaction information is stored in the Blockchain;
- Smart Contract, DeFi Protocol — DApp (decentralized application) that uses blockchain as an execution environment and operates with tokens;
- NFT — A special case of a smart contract used to implement a Non-fungible token - a digital certificate of some right to some asset or service of the digital or real world;
- DAO — An organization represented by rules encoded in the form of smart contracts, that is transparent, controlled by stakeholders, and not influenced by a central authority;
- Web3 — The next iteration of the evolution of the World Wide Web is based on blockchain, which includes concepts such as decentralization and the token-based economy;
- Guru Collective (Further FAO) — A business community of associates united by the idea of research, study and implementation of blockchain technologies such as Web3 and sharing common values and community mission;
- Guru Collective values — The foundational factors of the Guru Collective community that are shared by community members;
- Guru Collective Community Takes only the best professionals in their field to make them outstanding; The Guru Collective community is committed to maximum transparency and openness in both organizational and business processes; The Guru Collective community does not divide its members by any qualities or characteristics. The only criterion evaluated by the community is professionalism and reputation; The Guru Collective community shares the ideas of mutual respect and mutual support. We respect each other and help to achieve both common and private goals!
- Guru Collective's Mission — Raising awareness of decentralized technologies, increasing the social influence of the community, as well as increasing the capitalization of participants by increasing their own expertise, as well as with the help of the professional community;
- Guru Collective Protocol (hereinafter Protocol) — A set of smart contracts used to coordinate the Guru Collective community, using blockchain and operating including (but not limited to the following) liquidity tokens, reputation tokens, and NFT to implement;
- Guru NFT — A non-transferable token that acts as an "access card" that gives the owner access to the Guru Collective ecosystem for the duration of the subscription. Can exist in different formats, depending on the access level;
- Subscription — The period of time during which the Guru NFT Owner has access to the Guru Collective ecosystem and its closed information resources. The available subscription period is determined by the number of liquidity tokens in the participant's possession and can also be extended by burning liquidity tokens;
- Liquidity of protocol — The total amount of funds reserved on the smart contracts of the protocol;
- Utility token — A token that gives its holder access to a service or product;
- Liquidity Token ($GCL) — A utilitarian protocol token used to replenish liquidity. Each token corresponds to a certain percentage of the total protocol liquidity. Liquidity providers can claim their percentage by using the Burn LP function in the DAO control panel;
- Reputation Token ($GURU) — A utility token of the protocol that allows you to change the parameters of the protocol, and to make decisions about the development of the protocol as part of the DAO management process. Can be received as a result of community voting as a reward for protocol management, for contributing to community activities;
- Contributor — A member of the Guru Collective community who shares its mission and values, and owns reputation tokens and/or liquidity tokens;
- Community — The Guru Collective community;
- Organization Committee — A group of Guru Collective members who take on the task of implementing operational events. The composition of the organizing committee can be changed by the community as part of the protocol management;
- Expert Committee - A group of Guru Collective members;
- Operations - Events of the organizing committee that ensure the goals and mission of the Guru Collective are achieved;
- Protocol Management (also governance) is a set of processes including, but not limited to: The process of allocating the liquidity of the protocol to various investment strategies; The process of making changes to the protocol parameters; The Guru Collective's operational support process.
- Voting - A decision-making process within the DAO in which participants can vote for a decision submitted to a community vote. The result of a vote is the option for which the most votes were cast, expressed as the number of tokens in the account of each participant who took part in the vote; Cumulative voting — A type of voting in which the number of votes belonging to one participant is multiplied by the number of seats to be chosen and distributed randomly among an arbitrary number of options. The results of the voting are the options that receive the most votes, expressed as the number of tokens in the account of each participant who participated in the Voting;
- Protocol Parameters - A set of parameters that determine how Guru Collective works. The community can vote for the implementation of new parameters, provided that the appropriate decision is made. By community decision, an organizing committee can be appointed, elected by vote;
- Solution - A decision made by the community as part of the protocol management process and verified in #blockchain; Any decision can only be made by a vote of the community, taken in accordance with the rules of the governance process;
- Management process rules - A document describing the sequence of actions required to ensure the most transparent decision-making process, as well as changes to protocol parameters as part of the protocol management process;
- Rewards for protocol management - Each participant may request a reward in the form of reputation tokens and/or liquidity tokens for performing operational activities for the benefit of the DAO. Reputation token holders can vote to award reputation tokens to other community members as part of regular reputation inflation. Reputation token holders can
- DAO Dashboard - A web application with a member-accessible user interface where all members of the DAO participate in the decision-making process of the voting process; ** Liquidity Token Burn (hereinafter Burn LP) - A mechanism for regulating the number of liquidity tokens, by taking some of them out of circulation through various mechanisms, such as subscription and voting;
- Investment Strategy (hereinafter Strategy) - A proposal for allocating protocol liquidity to various DeFi-protocols, as well as other protocols and/or organizations as decided by the community. Reputation Token Owners can propose investment strategies according to the template. Investment strategies may include, but are not limited to, the various DeFi-protocols with which the DAO may interact. Private rounds of various DeFi-protocols that have been internally audited by the community may also be part of the investment strategy;
- Investment strategy template - A document that contains a description of the sequence of actions necessary to implement the most transparent process of implementing an investment strategy;
- Community Contributions (hereinafter Contributions) - Activities that contribute to the goals and mission of the community that can be evaluated as part of an audit;
- Audit is the process of evaluating a community's investment strategy and/or community input into the operations of the community;
- Minimum Execution-period - the period within which the strategy's effectiveness is evaluated, depending on the effectiveness of a particular strategy, the participant who proposed it can request a reward in the form of liquidity tokens. After the minimum execution period is over, the community can vote to extend the use of the investment strategy, if the evaluation of the strategy's effectiveness is acceptable to the community;
- Strategy Efficiency - The difference between the estimated volume of liquidity of the protocol allocated to the investment strategy at the moment of the strategy start and at the moment of the minimum execution period completion;
- Strategy Performance is a percentage measure of the strategy's performance for a particular sprint, equal to the specific investment strategy's share of total GAO revenue for the current sprint;
- [Dao-restrictions] (#dao-restrictions) - A set of software restrictions within the FAO smart contract designed to protect the community from non-sanctioned access and related;
- Sprint - The minimum reporting period adopted by the Community. Within this period, short-term planning of Community objectives is carried out, and an interim evaluation of the effectiveness of the current investment strategy and/or the contribution to the community of specific participants can be made; When the project starts, the sprint is two calendar weeks, but can be changed at the discretion of the Community.
- Reputation Inflation - The process of issuing new reputation tokens. The community gets the opportunity to issue x additional reputation tokens each sprint, where x= Total emissions 0.05 The community has the right to dispose of the issue as it sees fit, either by redistributing tokens among current participants or by transferring tokens to new participants who have made a significant contribution to the community;
- Reputation Distribution - At the end of the sprint, participants can vote on the distribution of tokens resulting from reputation inflation, depending on the participants' contribution to the community. Participants who have done the work can put their candidacy to a vote, attaching a report on the work done and presenting it at the status-call at the end of the sprint. A cumulative vote will be formed based on the results of the status call, and a fresh token issue will be distributed based on the finished results;
- Coordinator - A community member who provides task setting as well as task control within a single sprint. According to the results of the status-call the community can make an assessment of the coordinator's effectiveness, distributing to him/her a reward as part of the assessment of his/her effectiveness in the cumulative voting;
- Emergency DAO shutdown - The process of emergency shutdown of all DAO activity in order to keep it functioning properly and prevent unauthorized operations.