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“The intention of the off-chain votes is to provide a signal to the community that there's consensus on a proposal,” Walsh told CryptoX. “What we found is you only need one off-chain vote to achieve that benefit of a signal, and requiring the community to vote twice is redundant and
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Decentralization was proven to be DeFi’s saving grace this year. Shouldn’t protocol governance also be as decentralized as possible? Source
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It’s tough to tell what’s legitimate and what’s vaporware. (A common problem in crypto.) And these 26 projects, of course, are not the world’s first “startup societies,” and the lure of a new utopia did not begin with Web3. In 1804, a religious zealot named George Rapp convinced 600 believers
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The biggest changes would see Uniswap governance ditch its requirement for off-chain "snapshot votes" that precede on-chain votes. It would drastically raise the barrier for clearing preliminary votes, a move that will "prevent lower quality proposals" from breaking through, according to Walsh's blog. Original Source
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These KPIs, if fulfilled, result in rewards for participating communities. Conversely, if they’re not met, a community can be penalized as a portion of its staked governance tokens is destroyed. This may help disincentivize predatory behavior from large token holders who may vote favorably on proposals solely to gain token
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The crypto market is often referred to as the Wild West of the finance world. However, the events that have unfolded within this space recently would put to shame even the hardiest of cowboys from the day of yore. As a quick refresher, on Nov. 8, FTX, the second-largest cryptocurrency exchange
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Money, if it is the root of all evil, is antithetical to Bitcoin. There's been thousands of years of anti-market thinking, stretching back at least as far as Jesus smashed the merchants and money-changers. The corruption of money is a serious problem, but even the most casual reflection on human
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Governance tokens are a type of cryptocurrency that allow tokenholders to vote on the direction of a blockchain project. The primary purpose of governance tokens is to decentralize decision-making and to give holders a say in how the project is run.Governance tokenholders are usually more invested in the project’s success
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Over the past few years, decentralized autonomous organizations (DAOs) have introduced a clear paradigm shift in blockchain governance. With their community decision-making and adherence to hardcoded rules, they have challenged the role of hierarchy and central authority that are present in modern organizations, especially as it pertains to business. Ideologically,
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The robust participation in Sushi DAO votes is, however, a stronger claim to decentralization than Ooki has ever seen, Nansen data shows. Over 1,800 individual wallets have voted in Sushi DAO in the past six months, compared to a mere nine in Ooki over the same period. That said, Sushi
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