Following the successful completion of the network upgrade to Rust nodes and update of the Global Governance with more active community members, we have approached the next logical step of the network evolution and decentralization: a real on-chain DAO.
The first community votings published on Ever DAO showed tremendous involvement: community members had staked more than 23M wEVERs to express and support their opinion. We believe it signals the readiness of the project to move to the next decentralization stage.
We propose to make Ever DAO the official governance system of the Everscale network. It includes several stages of a gradual transfer of the voting power from the initial members to the community:
- Immediate action: transfer of voting from gov.freeton.org. Ever DAO will host the key proposals related to network development, but the execution of these decisions will remain on the current Global Governance members. Any new proposals published at gov.freeton.org after accepting this one shall be considered void and have no power;
- After three months: automated payments. Ever DAO engine supports the direct call of smart contracts, making it possible to grant it control over a wallet and automatically execute the decisions. At this stage, we propose to start with a minor fund (up to 5M EVER) that can be used to execute the accepted decisions. Global Governance will still take care of larger payments.
We propose to increase the current quorum threshold configured in Ever DAO from 500,000 WEVER to 5,000,000 WEVER to make an economical filter for accepting important network decisions.
The proposal threshold (100,000 WEVER) shall remain the same to provide broader audience access to proposing. However, it may be updated in the future if the community decides so.
Dedicated community groups who will host their mirrors of Ever DAO are free to configure the thresholds in line with their consensus.
Any votings published in Ever DAO before accepting this proposal by the Global Governance have no official power.
Although the developer and auditors carefully tested the contract system of the DAO, the interface requires further updates and improvements. We propose to form a working group under the guidance and funding of the upcoming Everscale Foundation with a strong leader that will elaborate and implement the DAO’s roadmap.
The current implementation of Ever DAO uses the Wrapped EVER as a governance token. However, as most network funds stay in depools, we propose switching it to the Staked EVER (stEVER) once it is ready and audited.
To make the governance process genuinely decentralized, we encourage the community to host the DAO’s front-end and back-end mirrors using the same set of smart contracts, similar to Linux repositories.