The IDL Representative Council is the Management Agency of IDL DAO
There are two types of advisors who make up the IDL Representative Council.
1. The IDL team or IDL Strategic Partner is responsible for the Designated Council Representatives (DCR).
2. The Community Council Representative represents the voice of the entire community of IDL holders. The Community Committee of Elite Stage 1 IDL has the most delegation and is decided by the number of available delegations.
Community voting provides all IDL holders with governance rights in the community of Global IDL Governance (GIG). This right allows all users of IDL to participate in governance activities. IDL governance and guidance aim to create a healthy ecosystem, and IDL holders can get high incentives through GIG participation.
Governance Benefit
This benefit is obtained by the Community Council which has obtained sufficient Elite Stage 1 IDL delegation to be elected as a Community Council seat. The IDL token pool designated for this purpose is divided equally among all Community Council representatives during each voting period.
Community Benefit
This benefit can be obtained according to the community size measured by the quantity of Elite Stage 1 IDL delegated to the Community Council. The more Elite Stage 1 IDL tokens delegated under community consultation, the more rewards are allocated to Community Councils during the voting period.
GIG operates under the proof of stake (PoS) representative governance. Under the IDL PoS ecosystem, candidates for IDL Council Representatives are elected as Community Committee representatives. The representative of the Community Committee may propose or vote for changes to the IDL DAO through organic communication with the IDL Council. Agreements are made through the approval of a majority of the Community Committee representatives. Staked and delegated IDL tokens can be rewarded with IDL according to the rule.
GIG provides the flexibility for unique multi-chain IDL protocols to grow and adapt, while also giving the power that comes from the community-led organizations.
Community Councils can monitor delegates and participate in the entire votes. We encourage IDL holders with voting rights to exercise their voting rights because the entire vote represents the community and is a way to get more rewards by bringing together more IDL delegates.
Follow the IDL Swap official community:
Homepage: https://idlswap.io/
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Twitter: https://twitter.com/idlswap
Github: https://github.com/IDLSwap
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