SSV Network Unveils Governance 2.0 for SSV Foundation and Community Empowerment Initiatives
In Brief
The ‘Governance 2.0’ of ssv.network signifies an upcoming phase where the protocol will transition towards full community control.
The crypto sphere continues to evolve, with decentralized platforms increasingly favoring community-driven governance. In line with this trend, the ssv.network is transitioning to ‘Governance 2.0’.
The term signifies the next step in transferring control of the protocol to its community, a practice that has been gaining traction among top protocols. While ssv.network has its roots in open-source protocol, it has now expanded to incorporate the SSV DAO and the newly conceptualized SSV Foundation.
The SSV community has presented a series of proposals, with the most recent emphasizing community empowerment and establishing the SSV Foundation.
The ssv.network holds the vision of being community-run, which is a complex endeavor spanning social, technical and legal dimensions. To bring this vision to life, the community has set up frameworks. With an upcoming DAO vote, the launch of the SSV Foundation might herald a new era in governance.
SSV Foundation Bridging Centralization
Earlier in March, the DAO had green-lighted the idea of establishing an SSV Foundation. Now, the Foundation Working Group (FWG) has put forward an extensive proposal on this front. If passed, the foundation will offer a much-needed legal façade for the ssv.network DAO, enabling real-world operational activities such as banking, contract execution, and hiring.
Professional guidance from Hash Directors and Leeward Management Limited will back this legal entity, ensuring token holders maintain substantial influence. Carey Olsen will handle any potential legal challenges, and the entity will operate on a proposed annual budget of $400,000.
Community empowerment and transparency are fundamental principles we embrace and constantly push for.
— ssv network 🤖💙 (@ssv_network) October 18, 2023
Learn how we're elevating this to the next level:https://t.co/2q2r9fdESp
Plans for Community Empowerment
Community participation has been the essence of decentralized systems, and ssv.network’s core team is making earnest efforts to bolster it. They’ve revamped their voting policy to launch the Community Empowerment Program.
Using the SSV delegation dashboard, the program aims to distribute decision-making power within the community and the DAO. The core team, while retaining their right to vote, has set forth an objective mechanism to balance delegate power. Key metrics will gauge community engagement, ensuring the top contributors get a voice in decision-making processes.
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About The Author
Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
