Crust Shadow Network is Launching its Governance Module
Governance Module is launching on Crust Shadow Network on April 18th! The governance module has been extensively launched on the Maxwell Testnet and mainnet.
Introduction of governance module
The governance module consists of the below parts:
1. Proposals & Referenda: General voting module in which users can submit proposals and vote on proposals to improve Shadow Network. In this part, the submission of the proposal and the referenda will require a certain amount of CSM to be staked.
2. Treasury & Tips: The Treasury is a pot of funds collected through transaction fees, slashing and staking inefficiencies. The funds held in the Treasury can be spent by a spending proposal that, if approved by the Council, will enter a waiting period before distribution. This part mainly provides rewards for contributors. All CSM holders can submit a tip application, which is ultimately voted on by members of the council.
3. Council: The council is an on-chain entity comprising a number of actors, each represented as an on-chain account. Along with controlling the treasury, the council is called upon primarily for three tasks of governance: proposing sensible referenda, canceling uncontroversially dangerous or malicious referenda, and electing the technical committee.
4. Technical Committee: The Technical Committee can, along with the Council, produce emergency referenda, which are fast-tracked for voting and implementation. These emergency referenda are intended for use only under urgent circumstances.
About Crust
Crust Network is a versatile, purpose-built storage blockchain that delivers truly decentralized file storage and hosting capabilities for the entire Web3 ecosystem, empowering privacy and data ownership. Crust Network enables dApp hosting, NFT metadata storage, and encrypted file storage across many blockchains.
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