Evergreen DAO is a multi-layered, democratic governance structure designed to maintain transparency and comply with Islamic ethical standards. Its authority is delegated to network participants, including validators and ISLM token holders who are democratically elected by the community itself. By delegating their coins to specific validators who actively participate in the voting process, token holders ensure that the community has a direct and fair say in the governance of the DAO.
The management of the Evergreen DAO is under the supervision of a Sharia board of respected scholars who rigorously review the project through the Sharia Oracle and verify compliance with Islamic principles. This ethical oversight ensures that the DAO's operations are transparent and morally sound.
10% of all ISLM tokens minted are directed to the DAO, as stated in the project's white paper. This mechanism is not for self-enrichment but is structured to facilitate sustainable Zakat (philanthropy) and community development.
The success of the Evergreen DAO is closely linked to the growth of the HAQQ Network as it hosts Sharia-compliant and ethically sound decentralized applications (dApps). This fosters a virtuous cycle of sustainable growth and positive social impact that particularly benefits Muslim communities around the world.
To maintain community-driven governance, the top five validators, including the HAQQ Network, collectively hold less than 20% of the voting power. This design protects against any entity exerting undue influence on the DAO. Additionally, the community has the flexibility to adjust the number of validators in the future, providing the ability to adapt to evolving needs and circumstances.
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