The cryptocurrency space continues to push forward with new solutions to revolutionize the financial industry. The key philosophy being the distribution of power back to the people, and the ability to have real influence and change over the future direction of a given project. At TomoChain Lab we’re excited to be working on the TomoMasterDAO project. We’re implementing a system of governance for grants with the public’s input. We believe that letting the community take part in the decision-making process alongside an incentive program, would benefit both sides of the scale. We’re offering grants for projects and community initiatives relating to the TomoChain network. The decision of who gets funded lies with you.
The trustless model of a distributed ledger allows the community to run the network and removes the need for a central authority to wield the power. The network and its members are able to make decisions through a governance system known as a Decentralised Autonomous Organisation (DAO). DAO’s are predominately used for governance over a project’s treasury and making changes to a protocol. Users can cast a vote on a protocol’s proposal by using the related token.
At TomoMasterDAO, we have designed our governance model to optimize the user experience. We are conducting votes using the Snapshot platform through our governance website. Casting a vote doesn’t require you to pay gas. You simply connect your wallet, choose an active proposal, then cast your vote. Not to mention, you’ll receive a reward just for voting on a proposal!
Projects can easily apply for funding by submitting a proposal through our governance website. The scope for proposals includes building on the TomoChain network, running community initiatives, marketing campaigns, and partnerships.
We’re releasing a new governance token to be the base of our voting system. This token will be distributed to the community through airdrops for masternodes and stakers, and providing liquidity on LuaSwap . Holding this token will allow you to cast a vote on your favorite proposals. We aim to have our governance platform be a place where you can discover hidden gems as they are being created. We want great projects to succeed and have the best chance of receiving funding. Keep your eyes peeled for more details coming soon. In the meantime, learn more about TomoChain here and engage with the community in the forum .