Stage Two Results

Stage Two verification sources and methods are disclosed to Verifiers on the Verifier Dashboard and results of the verification process are submitted on the same dashboard. As was the case with Stage One, depending on the type of protected event, a simple majority of Verifiers agreeing may be sufficient or a quorum may be imposed in order to reach the necessary evidentiary standard.

Request Approved. If evidentiary standard is achieved and the results are positive that the protected event occurred, the payout request is approved and payment is posted for final approval by the Treasury Committee (described in subsequent sections). The amount of the payout is determined by the underwriting algorithm and smart contract and is not decided by Verifiers.

Request Denied. If evidentiary standard is achieved and the results are negative that the protected event occurred, the payout request is denied and the member referred to fraud screening to determine if the request was fraudulent and if the member should be expelled from the DAO.

Request Deadlocked. If no evidentiary standard is achieved and/or the Verifiers are deadlocked on whether the protected event did or did not occur, the request is passed on to Stage Three.