Sirwin
Sirwin

MakerDAO founder: the foundation will be disbanded in two years and a preliminary draft of the governance transfer plan will be released next week


MakerDAO founder: the foundation will be disbanded in two years and a preliminary draft of the governance transfer plan will be released next week

 

BlockBeats news, the Maker Foundation has revealed that it plans to begin handing over governance to the community within the next two years and will release a preliminary draft of the new community-based governance paradigm next Monday. The Maker foundation has outlined a framework for a self-sustainable DAO. The new framework features election of paid contributors and domain teams, Maker improvement Suggestions, and voting representatives. Rune Christensen, MakerDAO's founder, said the foundation would be phased out in two years.

 

The foundation will release preliminary proposals for 13 maker improvements next Monday, including core governance structures and an accompanying listing process. Christensen said the ecosystem's current reliance on foundations is unsustainable in the long run. Given Maker's troubles on black Thursday, DAI ran a 5.3 million deficit after a series of collateral liquidation disasters. Christensen believes the foundation needs to accelerate its dissolution and start transferring its risk management capabilities to the community.

 

To jump-start the process, the Maker foundation has drawn up a preliminary set of proposals outlining the core governance structure and the associated on-boarding process, which will be released on April 6. The community can then vote on them, offer new proposals, or propose alternative processes. But it could take years for the Maker foundation to disband completely. Until then, the foundation will facilitate and oversee the governance design and knowledge transfer process to ensure that its eventual dissolution does not adversely affect the performance of the system.

 

Elected paid contributors keep the system running

 

The new, community-based governance system will feature elected paid contributors (EPCs) and domain teams. They will act as "public servants" for the ecosystem, providing expertise in everything from security maintenance to long-term development of protocols. An agreement will be made to elect and pay them.

 

The domain team, as a subset of the EPCs, will have special permissions for certain processes based on their expertise. For example, the risk team will have authority over the risk management process and will review the proposals thoroughly before the community votes on them. While risk management is the most important job, EPCs can also delegate a wide range of work, including marketing, human resources and legal research. However, the community must later decide on the exact structure and responsibilities of the epc through formal proposals.

 

Christensen adds that it is critical that the foundation's technical knowledge be transferred to the EPCs before it can be safely disbanded.

 

The original address: https://www.theblockcrypto.com/post/60702/

 

 

Silver block rhythm BlockBeats reminded, according to the circ and other five departments issued in August 2018 on the guard against in the name of the "virtual currency" "block chain" illegal fund-raising risk warning "file, please the public rationality block chain, don't blindly believe in reduction commitment, set up correct concept of money and investment philosophy, effectively raise the risk consciousness; To the illegal crime clue that discovers, can report to concerned branch actively reflect.    

How do you rate this article?

1


Blockchain_TopBuzz
Blockchain_TopBuzz

For independent-minded people, we offer professional Blockchain & Cryptocurrency News


Blockchain Topbuzz
Blockchain Topbuzz

For independent-minded people, we offer the professional blockchain & cryptocurrency news.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.