Decentraland (MANA) When the digital asset manager came into the limelight Scale It was included in its category of products for institutional investment 3 months ago. The Ethereum-based protocol allows users to do business with digital land and create DAP on top of “digital parcels”. Now, it has taken a step towards full decentralization.
According to an official Post, The deThe Accentraland Foundation announced the launch of a new implementation of its Decentralized Autonomous Organization (DAO). The Foundation claims that this decision-making tool is more economical and accessible to users and provides voting power to MANA and LAND holders.
Thus, they will be able to issue grants, change the list of restricted names, and the community will control smart contracts containing protocols, MANAs and LANDs through predefined proposals. Users can vote by going to DAO Website.
According to the official post, DAO would be more cost-efficient with a platform that would enable gas-less voting to both make proposals and log votes. The records of the voting process will be snapshots and stored in the Interplanetary File System (IPFS). Also, votes will no longer have to use wrap versions of their wrap Mind and land token To participate:
Proposals are created and polled quickly, with no expensive transaction fees. You no longer need to wrap up your assets to participate: DAO looks at the total balance of your LAND and MANA, this time a new proposal is made to determine how much of your vote for that particular proposal Will be weight.
Once the proposal is approved, a committee that has access to a multi-signature wallet is tasked with implementing it. EthereumBlockchain of. At the same time, this committee is supervised by the Security Advisory Board (SAB). The former was chosen by the Decentraland community through a resolution on the former DAO.
Decentralan’s new DAO with greater power and reach
The Decentraland Foundation wants to include more community members and token holders in the protocol’s governance model. Therefore, they have made this new implementation more “easy to use”, with educational tools for all and new ways to discuss the changes in the future, present and Decentraland.
As noted, voters will issue community grants at various levels and for many purposes, such as creating educational materials, contributing code, sponsoring new facilities, improving protocols, and more. Depending on the tier, the grant may be a lump sum payment of $ 500 to $ 3,000. The mind Or have a 3-month vesting schedule for $ 3,000 to $ 5,000. Decentraland Foundation said:
Today’s release makes Decentraland DAO more powerful, more useful and more accessible, but it’s only the beginning. In the future, the Decentraland community may like to add additional proposal categories and features to give the community more control over the Decentraland platform.
MANA trades at $ 0.84 with a 10% improvement in its daily and weekly charts. At the time of writing, the 30-day chart recorded a more pronounced loss of about 35.2%.