Governance
How is GPool transition into a DAO?
A core principle governing GPool has always been building a launchpad that puts investors first and puts them in the driving seat. The launchpad and staking platform are the vehicles for the investor community to review projects and run IDOs they feel are worthy.
The technology currently existing in the launchpad and staking platform goes a long way toward achieving this vision. The staking platform is interoperable, dealing with various networks, and the launchpad has an on-chain governance model that allows members to vote on IDOs with their vote weight calculated by their GPass and the number of tokens staked.
The voting process is entirely transparent, with all votes recorded and displayed at the end of the process. Only projects that receive a vote higher than 50% proceed to the fundraising stage.
While many pieces of the puzzle exist, we still have a long way to go—GPool endeavours to build automation and streamlined governance processes wherever it benefits the community.
To record a vote, a user needs to be a GPool holder. One GPool token is equal to one vote. Without a GPass the maximum number of votes a user can register is fifty thousand. To register more than fifty thousand votes requires a GPass. To calculate the number of votes a GPass holder can record, we look at the number of tokens a user has staked on the Genesis Staking Pool. The type of GPass a user holds will also affect the number of votes recorded.
- Gold GPass, votes recorded x3
- Silver GPass, votes recorded x2
- Bronze GPass, votes recorded x1
- No GPass, votes recorded x0.5 (50K maximum votes recorded)
GPool released the Version 2.0 staking platform in early 2022. The Genesis Staking platform, so far, has distributed more than ten different tokens across the Ethereum and Binance Smart Chain. Leading into the end of 2022, we plan to add more reward tokens before performing an update to the staking platform in 2023.
The Version 1.0 IDO governance system got released in June 2022. We plan to run several projects through the online Governance process in the third and fourth quarters of 2022 and gather project and community feedback. After feedback gets compiled, in late 2022, we will look to develop the Version 2.0 governance model.
In the future, we plan to extend the governance model beyond just IDOs and into areas such as future developments, essential company decisions and electing new members to sit on the operations council. We also plan to bring new types of investment opportunities to the GPool community using not-yet-created technologies in the NFT and Web 3.0 space.
GPool is only at the beginning of a journey to create a vibrant, robust, exciting investment community that funds and shares in the success of tomorrow's best ideas.
Last modified 1yr ago