DAPP Network Introduces New Governance Model

DAPP Network implements new governance model.

The DAPP Network has implemented a new governance model that will allow token holders to decide their own future. The change will give more power to community members, allowing them to suggest, debate, and implement changes to the DAPP Network. And they can do so without requiring any specific community leader or special permissions.

This change could also allow LiquidApps to potentially build products using the DAPP Network. Over the past two years, they’ve been able to build a lot of technology, but were unable to use it themselves. Basically, everything LiquidApps designed was for the community.

This governance change, however, allows the DAPP Network to become a DAO. Community members can propose and vote on desired products. As such, LiquidApps, as community members themselves, can also take part in these initiatives.

DAPP governance requires participants to dedicate tokens specifically for voting on proposals. You need to stake DAPP on the governance portal in order to vote. If you’re staked to a DSP, you may want to unstake a portion of these tokens for governance. Additionally, some DSPs might act as a proxy, voting on stakers behalf.

New proposals could also provide a reward in DAPP tokens for community members that fulfill the proposal’s implementation. Competition to fulfill one proposal could lead to the competitors potentially bidding for less compensation. This type of model could ultimately lead to a true decentralized governance system. Overall the eight-step proposal system is the core of DAPP Network Governance.

DAPP Network HAs Nearly 90 Million Unclaimed Tokens

The DAPP Network also has nearly 90 million unclaimed DAPP tokens after its two-year vesting period ended. These tokens will now become a funding mechanism for new proposals as community initiatives will be rewarded in DAPP tokens when completed.

Aslo part of this new system, the keys for the DAPPSERVICES smart contract will be held by an MSIG of Guardians. They’re in charge of deployment and signing changes based on approved governance proposals passed by the DAPP Network community. Guardians can also veto an approved proposal as an extreme measure in case a decision can be seen as malicious, deceiving or harmful to the ecosystem.

Overall the DAPP Network Governance aims to facilitate the ability for the entire community to propose and make decisions on the future of the network. This will ensure that no single entity has the power to make unilateral decisions.