0x DAO is now live!

0x DAO is live!

Today marks the beginning of 0x DAO, the decentralized organization made of ZRX holders. The 0x DAO contract address has been deployed to mainnet and funded with 2M ZRX (~$4.1M at time of publishing).

Key points

  • Initially, the DAO will only control the community treasury and not upgrades to the core protocol.
  • The treasury’s purpose is not enforced and ZRX holders will control what to do with treasury funds. The suggested usage, however, is the funding of projects that benefit the 0x ecosystem and provide positive effects to ZRX holders. Some examples of past activities led by 0x Labs include: introducing stakeholders incentives (such as Market Maker programs and ZRX staking), funding development efforts like 0x Tracker and Gitcoin bounties, and growing 0x protocol awareness through events and marketing campaigns.
  • A group of bootstrap delegates from projects building on 0x and the community will help guide the DAO.
  • While anyone can share their ideas for DAO treasury use on the 0x forum, at launch, there will be a requirement of 100k ZRX to move a proposal to a public vote.
  • Anyone holding any amount of ZRX will be able to participate in public votes. Since voting will occur on-chain, it will cost approximately 80k gas to cast a vote.

The process

The process is still in its infancy and will mature based on the community’s preferences and needs. While it always starts with public discussions on 0x’s governance forum or other communal venues, putting proposals in motion can take different forms. As a concrete example, Bootstrap Delegates (see next section) have already advanced a proposal to introduce a grant program pilot.

Anyone can submit a proposal by calling the smart contracts propose on-chain function, but realistically you should rely on Bootstrap Delegates to perform this action. Over time, we ...

-----
To keep reading, please go to the original article at:
0x Blog - Medium

Comments (No)

Leave a Reply