TomoMasterDAO — Governance for Grants on TomoChain
TomoChain is working on the TomoMasterDAO project for implementing a system of governance for grants with the public’s input.
🔹What is TomoMasterDAO?
The cryptocurrency space continues to push forward with new solutions to revolutionize the financial industry. The key philosophy being the distribution of power back to the people, and the ability to have real influence and change over the future direction of a given project. At TomoChain Lab they’re excited to be working on the TomoMasterDAO project. They’re implementing a system of governance for grants with the public’s input. They believe that letting the community take part in the decision-making process alongside an incentive program, would benefit both sides of the scale. They’re offering grants for projects and community initiatives relating to the TomoChain network. The decision of who gets funded lies with you.
🔹What is a Decentralised Autonomous Organisation (DAO)?
The trustless model of a distributed ledger allows the community to run the network and removes the need for a central authority to wield the power. The network and its members are able to make decisions through a governance system known as a Decentralised Autonomous Organisation (DAO). DAO’s are predominately used for governance over a project’s treasury and making changes to a protocol. Users can cast a vote on a protocol’s proposal by using the related token.
🔹TomoMasterDAO’s Governance Model
At TomoMasterDAO, they have designed governance model to optimize the user experience. They are conducting votes using the Snapshot platform through governance website. Casting a vote doesn’t require you to pay gas. You simply connect your wallet, choose an active proposal, then cast your vote. Not to mention, you’ll receive a reward just for voting on a proposal!
What is TomoChain?
TomoChain is a scalable blockchain-powered via Proof-of-Stake Voting consensus and used commercially by companies globally.
TomoChain’s mission is to accelerate the onboarding of millions of users by empowering today’s applications with technology that masks the friction of Blockchain, all while retaining its underlying benefits. TomoChain’s technology and DeFi-focused flagship products include:
- Fast & Near-Zero Fees: 2000 TPS, 2-second block time, ~$0 gas fees, and EVM compatible.
- An array of original features and protocols is designed to support speed, privacy, usability, and liquidity needs all in one platform.
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