Testament (TEST) Constitution
Testament (TEST) Constitution
Preamble
The Testament Project is founded on the principles of redemption, growth, and forgiveness, leveraging decentralized technology to empower the Christian community in its charitable mission. Through transparency, community governance, and wise stewardship, we aim to prove humanity’s capacity for good, supporting certified charities and building a sustainable legacy through a future non-profit, Testament Non-Profit. This Constitution establishes the framework for achieving these goals, ensuring the project remains trustless, inclusive, and aligned with its spiritual vision.
Official Launch Date: May 22, 2025
Article I: Mission
The Testament Project exists to create a decentralized, trustless platform that empowers the Christian community to enact redemption, foster growth, and extend forgiveness through charitable giving. By leveraging blockchain technology, we aim to prove humanity’s capacity for good, supporting certified charities and building a sustainable legacy through Testament Non-Profit.
Article II: Governance
Section 1: Decision-Making Authority
Decision-making power resides with TEST token holders through the Testament Decentralized Autonomous Organization (DAO), ensuring a decentralized and community-led governance structure. The creator retains limited authority during the initial phase to stabilize the project, transitioning to full DAO control over time.
Section 2: Proposal and Voting Process
Any individual may submit a charity or project proposal for a $1 fee (in USDC or equivalent), which is then evaluated through a community upvote/downvote system.
Proposals reaching sufficient support proceed to a DAO vote, requiring a 30% quorum of voting-eligible tokens and a 60% approval threshold to pass.
Voting follows a 1 token = 1 vote rule, subject to the cap outlined in Section 2.1.
Approved charities will be voted on in December, and the treasury wallet’s funds will be split based on the vote.
Section 2.1: Voting Cap
To ensure decentralized governance, no single wallet may exercise more than 2% of the total voting power in any DAO vote, regardless of the number of tokens held.
The cap is calculated based on the total supply of TEST tokens and enforced automatically via the governance platform.
Section 3: Creator’s Role in Governance
First 6 Months (May 22, 2025 – November 22, 2025): The creator holds sole authority over contract upgrades to ensure project stability.
This period focuses on stability, bug fixing, and auditing, with the proxy contract removed once stable.
6 Months to 5 Years (November 22, 2025 – May 22, 2030): If the proxy contract has not yet been removed, any contract changes must be approved by both the creator and the DAO.
After Year 5 (May 22, 2030 onward): Full DAO governance, with no creator approval required for upgrades.
Article III: Funding
Section 1: Fund Collection
Funds are collected through:
A 5% transaction tax on all TEST token buy/sell transactions, automatically directed to the Charity Treasury Wallet.
An initial allocation of 5% (50,000,000 TEST) to the Charity Treasury for early donations.
Voluntary donations accepted via the Charity Wallet’s posted address.
Section 2: Fund Management
Funds are secured in multisig wallets (Treasury, Donation, CC), managed by DAO-elected signers when the DAO has full control.
Charity Treasury and CC Wallet funds are converted to USDC throughout the year—gradually (e.g., 1/12th monthly) and with DAO-approved price triggers (e.g., $0.012 for Charity Treasury, $0.015 for CC Wallet)—using decentralized exchanges (DEXs) for amounts under $50,000 and over-the-counter (OTC) trades for larger sums.
Section 3: Fund Distribution
Years 1–5: 100% of Treasury Wallet funds are distributed annually on December 25th to DAO-approved certified charities, initially executed manually by multisig signers with complete and public transparency.
Year 6 Onward (May 22, 2030): Funds are split 70% to charities and 30% retained for Testament Non-Profit, with distributions following the same annual schedule.
A roadmap for automated disbursements is outlined in Article IX.
Article IV: Timeline and Phases
Section 1: Foundation Phase (Years 1–5)
Focus: Disburse 100% of Treasury funds to certified charities annually.
Governance: Creator control of upgrades for the first 6 months, transitioning to DAO + creator approval, with the creator renouncing ownership.
Milestone: Testament Non-Profit (CC) nonprofit registration must be outlined and filed within 6 months of reaching a $1 million market cap.
Section 2: Growth Phase (Year 6 Onward)
Commencement: May 22, 2030
Funding Split: 70% to charities, 30% to Testament Non-Profit.
Governance: Full DAO control, with no creator approval required for decisions.
Focus: Scale impact through Testament Non-Profit’s mission-driven projects.
Section 3: Long-Term Goals
Achieve full automation of fund disbursements and governance actions by Year 3 (May 22, 2028), or as technically feasible, per DAO approval.
Establish Testament Non-Profit as a self-sustaining nonprofit entity no longer needing funding from the coin.
Article V: Compliance
Section 1: Token Compliance
Testament (TEST) is structured as a utility token for governance and charitable purposes, not a security, with an initial legal review to ensure compliance with relevant jurisdictions (e.g., U.S. SEC regulations).
Section 2: Charity Compliance
In Years 1–5, only certified charities (e.g., 501(c)(3) or equivalent) shall receive funds, ensuring tax-deductible donations and regulatory adherence.
Donation records and receipts shall be published for transparency and donor benefit.
Section 3: Testament Non-Profit (CC) Compliance
CC shall register as a nonprofit entity (e.g., 501(c)(3)) within 6 months of reaching a $1 million market cap.
CC shall comply with nonprofit regulations, including no private profit distribution and annual financial filings (e.g., IRS Form 990), with DAO oversight.
Section 4: Ongoing Legal Oversight
The DAO may vote to adjust operations (e.g., exclude regions with crypto bans) as needed.
Funds converted to USDC or fiat shall adhere to tax obligations, with optional Know Your Customer (KYC) verification for large donors if required by law.
Article VI: Community
Section 1: Governance Involvement
The community, comprising TEST token holders, governs through the Testament DAO. Any individual may submit proposals for a $1 fee, followed by a community upvote/downvote process, with final decisions made via DAO vote.
Section 2: Community Reserve
15% of the token supply (150,000,000 TEST) is allocated to a Community Reserve, funding initiatives such as airdrops, rewards, and governance incentives to encourage engagement and support early contributors.
Section 3: Engagement and Education
Engagement shall be fostered through grassroots outreach, church partnerships, and potentially a creator-produced short movie.
Educational resources—including guides, videos, and a comprehensive website—shall ensure all community members can participate, regardless of technical expertise.
Section 4: Accessibility for Non-Technical Users
Support includes:
User-friendly tools (e.g., wallet setup guides, governance dashboards).
Community-driven help (e.g., forums, mentorship).
Low-tech entry points (e.g., fiat on-ramps).
Note: CC’s early goal will be to provide infrastructure surrounding the coin and its donations; the above may not be available until then.
Section 5: Operational Tools
The project leverages:
Marketing and Engagement: Telegram, X.
Operations and Governance: UNCX, Uniswap, Ethereum.
Article VII: Amendments
Section 1: Proposal and Voting
Any community member may submit an amendment proposal for a $1 fee, detailing the change and rationale to the Constitution.
Amendments require a DAO vote with a 40% quorum of voting-eligible tokens and a 66% approval threshold.
Section 2: Timelock
Approved amendments are subject to a 7-day timelock before implementation, with execution by DAO-elected multisig signers.
Section 3: Creator’s Role in Amendments
First 6 Months (May 22 – November 22, 2025): The creator may veto amendments to maintain stability.
6 Months to 5 Years (November 22, 2025 – May 22, 2030): Amendments require DAO approval plus creator consent.
After Year 5 (May 22, 2030 onward): Amendments are solely under DAO control (30% quorum, 60% approval, 2% voting cap per wallet).
Section 4: Transparency
All amendment proposals, voting outcomes, and implementation details shall be publicly recorded on the Testament website.
Article VIII: Miscellaneous
Section 1: Transparency and Accountability
All financial transactions, governance decisions, and operational updates shall be publicly accessible via the project’s website.
The DAO shall publish annual reports detailing fund usage, charitable impact, and progress toward long-term goals.
Section 2: Conflict Resolution
In the event of disputes or governance deadlocks, a mediation committee of DAO-elected members shall be formed to facilitate resolution.
If necessary, the DAO may vote to engage external arbitrators with expertise in decentralized governance.
Article IX: Automation Roadmap
The project shall pursue automation of fund disbursements and governance actions as resources and technology allow.
Target: Full automation by Year 3 (May 22, 2028), subject to DAO approval and technical feasibility.
Initial Steps: Automate tax collection and proposal voting, with disbursements transitioning from manual to automated processes.
Conclusion
This Constitution establishes the framework for the Testament Project to fulfill its mission of decentralized Christian charity. Through community governance, transparent funding, and a phased approach to growth, Testament aims to build a trustless system that proves humanity’s capacity for good, fostering redemption, growth, and forgiveness.