Senatus Parliament

Senatus Parliament Composition

1. Number of Senatus Parliament: 200

2. Senatus Member Qualifications: Maintain Phobos delegates

3. Election of Senatus members: Elected from Phobos delegates voting. Depending on the development of the metaverse platform, the composition ratio of Senatus members can be distributed by Colony.

Role of Senatus Parliament

1. Enactment (Initiation of Law): Members of the Senatus Parliament are responsible for making laws. Deliberation and resolution are conducted at Phobos Delegates.

2. Mars: metaverse Budget: One of the greatest powers of the Senatus Parliament is the budgeting power. About 5 - 10% of the metaverse distribution according to DAU is allocated MRST as a budget. The allocated budget can be used for the expansion & development of the Mars: metaverse or donations to improve the brand image. The Senatus Parliament budget plan is reviewed by The Mars and MRST will be paid directly to the appropriate place of use. Except the special cases, most budgets are approved (conflicts of interest).

Senatus Parliament Incentive

1. Senatus Delegate SBT Issuance: By becoming a Senatus delegate, members receive the Senatus Delegate SBT issued every year. Having the SBT of Senatus delegate will bring the members of pride in being influential to others in the world of Mars: metaverse.

2. MRST Remuneration (Fixed Quantity): Senatus delegates are entitled to a certain amount of remuneration as determined by law.

3. Drafting Success Compensation: If the law drafted by Senatus is enacted after deliberation and resolution, members receive a reward and record the law in the blockchain contract.