A solid community is one of the best assets of any blockchain project. Engaged communities are indeed at the basis of the growing DAOs movement, which sees familiar hierarchical structures give way to community collaboration. DAOs (Decentralized Autonomous Organizations) enable projects, developers and the community to build a better DeFi and Web 3 ecosystem and actively contribute to the success of the projects they govern.
As the pNetwork ecosystem continues to grow, it needs an internet-scale organization to achieve its goals. Giving more and more relevance to the project’s DAO aims for community collaboration into building a strong cross-chain infrastructure and contributing to the success of Web 3.
The pNetwork DAO goal is to drive adoption and awareness of decentralized industries like DeFi, NFTs and gaming by building connections across multiple blockchain ecosystems. This article scrutinizes every aspect of joining the pNetwork DAO, one of the top DAOs in the crypto ecosystem.
Why Join the pNetwork DAO
As you’ll now learn, joining our decentralized autonomous organization (DAO) is not only easy but also brings astounding benefits to participants.
By placing power in the hands of real-life users of the platform, pNetwork encourages the community to contribute to the success of the project by actively participating in governance decisions. In doing so, DAO members are rewarded with PNT.
The staking model strives to be as inclusive as possible. That means that there is no minimum amount of staking required. Whenever community members stake their PNT tokens in the DAO, a wrapped version of these tokens (daoPNT) are given back to participants that can leverage those to open or vote in all kinds of proposals — from supporting desirable yield farming initiatives to other strategic decisions.
The voting system employs a 1:1 mechanism, meaning that the number of daoPNT (PNT tokens staked in the pNetwork DAO) is proportional to the voting power users have. The more PNT at stake, the higher the voting power with community members staking 200k PNT (or more) able to open their own DAO proposals and launch initiatives to contribute to the success of the project.
By actively participating in the decentralized autonomous organization, community members reinforce the project and are rewarded in PNT tokens.
Community members can set up and manage a server running a pNetwork node.
pNetwork node operators play a key role in the ecosystem as they power cross-chain transactions for assets, NFTs and data while securing the platform itself. While operating such a crucial task, pNetwork nodes participate in the success of the project having access to double rewards. Additional to DAO voting rewards, pNetwork nodes accrue fees on processed cross-chain operations. That is, Bitcoin and other cryptocurrencies are received as an upside by node operators.
Over the last 30 days, pNetwork nodes have processed $ 80+ Million in cross-chain transactions, accruing over $ 190k in fees.
While currently reserved for community members with large stakings, the upcoming pNetwork NFT will enable anyone holding 10 NFTs to join in the node game and start farming BTC.
Join the pNetwork community on social media to know more.
As you know, Eidoo and pNetwork are closely interconnected. As our reference wallet, Eidoo has created a custom DAO interface enabling users to participate in the decision-making process easily from their phones.
And not only that.
Community members who stake PNT for the Layer 2 -based crypto card powered by Eidoo (eidooCARD) can leverage the same stake to vote in the pNetwork DAO. While doing so, community members can access both PNT voting rewards and up to 16% crypto cashback.
The VISA-backed debit crypto card can be used for online and offline transactions, as well as ATM withdrawals, anywhere in the world — and it allows the spending of pTokens like pBTC and pLTC directly with the card.
How to Join the pNetwork DAO
Anyone holding PNT (pNetwork’s native token) can participate in the governance of the project.
All PNT holders need to do is to stake their tokens in the pNetwork decentralized autonomous organization (DAO) via two available mechanisms:
You can check the complete staking guide via Aragon in our dedicated blog post.
Join us as we continue growing pNetwork!
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