6. Governance
DxChain mainly divides business, technology, and community aspects in community governance. It is expected that major decisions and policies will be governed by community voting. The community will initiate proposals, evaluate the results, and the committee monitors the execution process so that the DxChain development team and the community can realize the co-governance.
The DxChain team always firmly believes that a fair, reasonable, and transparent governance mechanism with multi-party participation can better improve the community's quality. DxChain will adhere to the following points:
1) Improve the community incentive mechanism
We will continue to run DPoS mining, keep the incentive mechanism updated and innovated, provide sufficient incentives to attract more users and achieve positive feedback, aiming to guarantee the benefits of all users.
2) Community Co-governance
Co-governance will be the core idea of DxChain 3.0 community governance. In order to increase the sense of ownership, community users will be advocated and guided to participate in community discussions, proposals, and voting in the design of the community governance mechanism.
3) Foundation Assistance
As the initiator of DxChain ecosystem, DX Foundation will play the role of mobilizing community participation, accelerating community merging, integrating community resources, solving community problems, and promoting community governance.
The validator is responsible for block generation and verification on the chain, and is an integral part of DxChain. In order to realize co-governance, the rules were firstly applied in node elections. If a user wants to participate in the DPoS and apply for a validator, the following conditions must be met:
- Possess the technical and hardware requirements to maintain a blockchain node
- Stake at least 40 million DX
- The proportion allocated to voters is between 70% and 100%
A proposal will be initiated on DxChain once the above conditions are met and all existing delegators can vote, the application will not get approved until at least one validator has voted.
DAO (Decentralized Autonomous Organization) involves on-chain governance. Project or community users can initiate proposals, such as adjustments to consensus algorithm and economic models, deciding whether to approve new delegators, greatly expressing our idea of co-governance and reducing the risks brought by centralized governance.
Currently, 5% of the block reward will be allocated to the DxChain Foundation to support future development and operation, community governance, external developer contribution rewards, ecosystem construction funds, etc. (including but not limited to Dapp Development and marketing). Community governance is a process in which delegators, community members and foundations supervise each other and work together. The DxChain team will continue to improve the further governance plan in DxChain 3.0 to make governance and supervision more transparent.
Figure 12: Block Reward Allocation
Last modified 1yr ago