CRYPTO NEWS & DATA SPACE

CRYPTO NEWS & DATA SPACE

Harmony to Start Validator DAO

Published on:

Harmony Foundation allocated 4 million $ONE tokens to kickstart the Validator DAO. Once kickstarted, DAOs will ensure their long-term sustainability through their impact and utility to their community

The Validator DAO will further enrich the community by ensuring a vibrant and robust ecosystem and supporting the growth of the Harmony network from the over 100 validators currently operating to over 1,000 in the near future.

 

The Validator DAO will comprise an Initial Council of 5 community nominated and elected validators who will set out the procedures necessary for the DAO governance

This new Validator DAO will be focused on the health and well-being of the validator community. It will drive network governance, putting into place and practice the variety of mechanisms needed to support both voting and accountability

 

The Harmony Foundation will bootstrap the Validator DAO with an initial funding of 4 million ONE tokens over the next 8 months. ONE tokens will be deposited into a multi-sig Gnosis Safe to be managed by the 5 designated representatives of the Initial Council as voted on by the validator community.

 

About Harmony

Harmony is an interoperable sharding protocol offering a two-way Ethereum bridge. The Harmony blockchain is an independent blockchain designed to enable ultra-fast transactions and interoperability as an advanced layer-2 solution for Ethereum 

RESOURCES:

Blog Post

Related

Stay Up to Date with Us

Market Stats:
BTC Dominance: 39.22%(+0.22%/24h)
ETH Dominance: 17.42%(+0.20%/24h)
Defi Market Cap: $0B(+70.33%/24h)
Total Market Cap: $935.44B(+0.61%/24h)
Total Trading Volume 24h: $74.03B(+51.90%/24h)
ETH Market Cap: $0B
Defi to ETH Ratio: 0%
Defi Dominance: 0%
Altcoin Market Cap: $568.6B
Altcoin Volume 24h: $34.11B
Total Cryptocurrencies: 21092
Active Cryptocurrencies: 9475
Active Market Pairs: 59417
Active Exchanges: 522
Total Exchanges: 3584