Hello frens,
Today, we’re diving deep into the fascinating world of Decentralized Autonomous Organizations (DAOs) and exploring how $PROM is set to leverage this groundbreaking concept to empower and engage its community. Prom’s DAO structure, featuring roles like Delegates, Validators, and Members, is poised to revolutionize governance in the blockchain space.
Ready to discover how? Let’s unravel the future of decentralized governance together! 🧵👇
What is a DAO?
A DAO, or Decentralized Autonomous Organization, is an organization represented by rules encoded as computer programs (smart contracts) that are transparent, controlled by organization members, and not influenced by a central authority. DAOs offer unprecedented levels of transparency and democracy.
How DAOs Work
DAOs operate through smart contracts on a blockchain. These contracts define the rules and execute the agreed-upon decisions. Members of a DAO typically hold tokens that represent voting power, allowing them to vote on key issues such as project upgrades, funding decisions, and more.
The Role of Prom DAO in The Ecosystem
Prom DAO aims to drive the growth of the ecosystem by allowing key community members to execute governance. It will be powered by $PROM as a governance token, representing membership. Prom DAO will facilitate decisions on upgrading core contracts, fixing vulnerabilities, and more, through a transparent and community-driven voting process.
Prom DAO Structure: Delegates, Validators, and Members
Prom DAO will have a clear role-oriented structure:
- Delegates: Elected representatives who receive voting power from other $PROM holders.They actively participate in discussions, propose initiatives, and vote on behalf of others.
- Validators: A secondary layer that will review and confirm proposals that pass the initial voting phase. They will ensure the proposals benefit Prom’s vision.
-Members: Every Prom holder become a member to help shape the future of Prom. They will propose ideas, vote on initiatives, and benefit from participating in the decision-making process.
