Governance
When numerous individuals influence the governance and strategy, initiating a project can rapidly become challenging, if not altogether unfeasible.
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When numerous individuals influence the governance and strategy, initiating a project can rapidly become challenging, if not altogether unfeasible.
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Was this helpful?
This model would empower each member of the community, enabling them to actively participate in decision-making processes and contribute to the development of the protocol.
It would foster innovation, as diverse perspectives and ideas from the community would be harnessed to drive PoLN forward.
Furthermore, this decentralized approach would ensure transparency, accountability, and a fair distribution of value, aligning with PoLN’s core objectives of equitable wealth distribution and ethical transactions.
Initially, fairhive-labs should be the sole entity guiding the strategy and development for a duration of two years.
Following this initial phase, the centralized organization is expected to relinquish leadership to a DAO (Decentralized Autonomous Organization), fostering Progressive Decentralization and Polycentric Governance.
The goal is to circumvent the potential pitfalls and inefficiencies associated with immediate full decentralization by integrating a variety of viewpoints and eliminating single points of vulnerability, thereby guaranteeing stability, security, and effective development before transitioning control to the community.
Every holder of $POLN will have the opportunity to submit valuable proposals, participate in voting, and receive rewards if their proposals gain acceptance and approval from the community.
In the near future, fairhive-labs is envisioned to transition into a role as a service provider to the DAO, contributing to protocol upgrades as a strategic partner, rather than directing fund management or shaping future strategy.
The community must take the lead!
