SSV Network has just announced its Governance 2.0, geared towards enhancing the SSV Foundation and initiatives aimed at community empowerment.
In Brief
The 'Governance 2.0' initiative from ssv.network indicates an essential next step toward transferring full oversight of the protocol to its community.
The cryptocurrency landscape is continuously transforming, with a notable trend toward decentralized platforms prioritizing governance that is driven by the community. In light of this evolution, the ssv.network is transitioning to ‘Governance 2.0’.
This initiative represents a significant advancement in the process of handing over protocol authority to its community, a movement that is steadily gaining momentum among leading platforms. SSV.Network, while rooted in the principles of open-source protocols, has significantly evolved to include the SSV DAO and the newly conceptualized SSV Foundation .
The SSV community has submitted several proposals lately, with the latest highlighting the importance of empowering the community and the establishment of the SSV Foundation.
The ssv.network The vision is to create a community-driven model, which involves complex challenges across social, technical, and legal dimensions. To realize this vision, the community is developing specific frameworks. With an upcoming vote within the DAO, the formation of the SSV Foundation could usher in a groundbreaking chapter in governance.
SSV Foundation Facilitating a Shift Away from Centralization.
Earlier this March, the DAO endorsed the concept of forming the SSV Foundation. Now, the Foundation Working Group (FWG) has laid out a comprehensive proposal regarding this initiative. If approved, the foundation will provide an essential legal framework for the ssv.network DAO, allowing it to engage in crucial activities such as banking transactions, contract management, and employee recruitment.
Professional guidance from Hash Directors and Leeward Management Limited This legal entity will be supported by substantial backing, ensuring that token holders will retain their significant influence. Carey Olsen is set to assist in navigating any legal hurdles, with the foundation anticipated to operate on a proposed annual budget of $400,000.
Empowerment of the community and maintaining transparency are core values we uphold and continuously strive for.
— ssv network 🤖💙 (@ssv_network) October 18, 2023
Discover how we are taking our initiatives to greater heights: https://t.co/2q2r9fdESp
Plans for Community Empowerment
Community engagement has been the cornerstone of decentralized frameworks, and the core team at ssv.network is diligently working to enhance this aspect. They’ve revamped their voting procedures to initiate the Community Empowerment Program.
Leveraging the SSV delegation dashboard, this program aims to empower the community and DAO by distributing decision-making authority. The core team, while preserving their voting rights, has established an objective mechanism to ensure a fair distribution of delegate power. Key performance indicators will measure community involvement, making sure that the most dedicated contributors have a say in critical decision-making.
Disclaimer
In line with the Trust Project guidelines Please keep in mind that the information on this page is not legal, tax, investment, financial, or any professional advice. It's crucial to only invest funds that you can afford to lose and to seek independent financial counsel if you’re uncertain. For more detailed information, we recommend reviewing the terms, conditions, and support resources available from the issuer or advertiser. MetaversePost is committed to providing accurate and unbiased news, but market circumstances can change without prior notice.
