Melon will run its decentralized governance on Aragon
Melon is thrilled to announce that the Melon Council will be powered by aragonOS. The Melon Council is responsible for overseeing the future developments of the Melon protocol. aragonOS is a Solidity framework on the Ethereum blockchain, which allows anyone to create, manage and participate in complex decentralised organisations.
This collaboration shows the incredible potential for synergies and integration between different projects on the Ethereum blockchain. Both Aragon and Melon are champions of the principles of openness, decentralisation and transparency. This is the first time Aragon will be used to power a decentralized asset management protocol.
The Melon Council DAO will allow decision making within the Melon Council to remain secure and transparent to the community. The members of the Melon Council will be able to vote on-chain on matters such as inviting new members (MEB/MTC) into the Council, adjusting the amgu price, updating the melonprotocol.eth ENS subdomains, and updating protocol parameters. The Melon Council will also be able to use Aragon tools to make their decisions about inflation spending transparent.
“The Melon Council organization constitutes a perfect use case for Aragon. The aragonOS framework will enable the Melon Council to vote on-chain on important matters such as modifying protocol parameters, deciding on inflation spendings, or expanding the Council itself. We are thrilled to collaborate with the Aragon team, and to pioneer the era of organizations powered by Aragon.” - Jenna Zenk (Melonport CTO)
“We are really thrilled that Melon decided to use Aragon as their tool to govern the project now that they are shutting down the founding company. The Council will be able to transparently make decisions to move the project forward, instead of decisions being made behind closed doors like most crypto projects nowadays.” - Jorge Izquierdo (AragonOne CTO)
How will it work?
Each Melon Council member will be issued a token that represents their membership into the Melon Council (MGM for Melon Council General Membership and MTC for The Melon Technical Council). They will then be able to use that token to make proposals and vote on key issues including:
- Adding new members to the Melon Council
- Protocol upgrades
- Network parameter adjustments
- Resource allocation
Notes to Editors
What is the Melon Council?
Melon is an open-source protocol for on-chain asset management. It is a pioneering blockchain software system that enables participants to set up, manage and invest in technology regulated and operated funds in a way that reduces barriers to entry, whilst minimizing the requirements for trust. The Melon Council is responsible for the future development and maintenance of the protocol. It is tasked with maximising user adoption, promoting innovation, incentivising token holders, future developers and maintainers of the Melon protocol and safeguarding the interests of network users.
What is Aragon?
Aragon is a decentralised app on the Ethereum blockchain which allows anyone to create and manage decentralized organisations. It is an open-source project led by the Aragon Association. Aragon provides a platform for the creation of new, decentralised organisational forms that protect self-sovereignty, empower communities and facilitate collaboration across borders and jurisdictions. It provides complete transparency with regards to finances and payments. Aragon is fully customisable and the Association works with developers to create additional free-to-use apps for extended capacity and functionality. For more information see the Aragon Manifesto.