17/04/2023
SUBJECT OF THE DAY: GOVERNANCE
SO, WHAT IS AVIVE NETWORK'S GOVERNANCE?
LET'S DIVE DOWN THE TOPICS BELOW👇👇👇
Model
AVIVE will adopt a decentralized governance model that allows token holders to have a say in the direction of the network. This could be achieved through a DAO (decentralized autonomous organization) that is controlled by the token holders. The DAO could have the power to make important decisions such as changes to the protocol, network upgrades, and allocation of funds.
Voting Mechanism
The DAO will use a voting mechanism that allows token holders to vote on proposals. The voting will be done through a smart contract that ensures transparency, accuracy, and security. The proposals could be submitted by anyone, including token holders, developers, and community members.
Token Locking
To prevent token holders from voting based solely on short-term gains, the DAO will implement a token locking mechanism. This will require token holders to lock up their tokens for a certain period before they can vote. The longer the lock-up period, the more voting power the token holder would have.
Governance Rewards
To incentivize participation in the governance process, AVIVE will reward token holders who participate in voting and decision-making. This can be done by allocating a portion of the network's fees or block rewards to those who participate in the governance process.
Transparency
To ensure transparency in the governance process, all proposals and votes can be made publicly available on the blockchain. This will allow token holders to see the reasoning behind proposals and the results of votes.
That's it!
In summary, AVIVE is a system that allows people who own its tokens to have a say in how it operates. This is done through a decentralized decision-making process, where token holders can submit proposals and vote on important decisions. To ensure fairness and prevent short-term thinking, token holders must lock up their tokens for a certain period before they can vote. AVIVE will reward those who actively participate in governance with a portion of its earnings. All proposals and votes will be publicly available, so everyone can see what's going on behind the scenes.