8️⃣Delegation of voting rights

MC DAO can implement a voting delegation arrangement pursuant to which multiple Delegates may be granted rights to vote on behalf of Tokenholders.

A Tokenholder can delegate voting power held by such Tokenholder to a Delegate. Tokenholders can delegate to one Delegate at a time and the number of votes added to a Delegate’s vote count should be equivalent to the voting power of the MC Tokens owned by the relevant Tokenholder.

The Tokenholder delegating voting power should retain 100% ownership and control of the MC Tokens and can use them as such Tokenholder wishes, except that the Tokenholder cannot use them to vote (other than through their Delegate) until the delegation of voting power has been revoked in accordance with the relevant voting delegation arrangement.

MC DAO shall adopt a Delegate code of conduct if delegation is implemented. Delegates need to read and agree to the applicable code of conduct prior to becoming entitled to vote on behalf of other Tokenholders.

Tokenholders will be under no obligation to delegate. No Delegate will be obliged to continue voting on any Tokenholders’ behalf.