🔒 Security

The society of tomorrow requires a solid foundation of security standards. For this, we have established rules and guidelines to make Teams DAOs safe to use & participate for all members.

TIP

Since your Teams DAO is based on its own smart contract, PeerMe does not have any more access or control over voting processes than you do.

Token Management Rights

Requirement: To start and run a public Teams DAO with an existing token, we require the token owner to transfer token management rights to the Teams smart contract. To make this easy, we provide a dedicated user interface to complete the transfer.

Reason: On MultiversX, a token manager (there can only be one per token) has complete control over their token. This means they can not only decide to freeze & wipe accounts but also freely mint & burn tokens as they like. A single person that can freely mint vote tokens out of thin air is a hazard to all members of a DAO and defeats all purposes of it as well.

Consequences: Teams DAOs that don't have ownership and management rights for their vote token will periodically be set to operate in Private Mode. Members will also be informed about the risks.

Special Token Roles

Recommendation: Before creating a Teams DAO with an existing token, we recommend removing as many special roles for minting vote tokens as you deem sensible.

Reason: Accounts that are allowed to freely mint vote tokens are a hazard to all members of a Teams DAO.

Consequences: We will tag potential risks accordingly.