Why Transparent Governance Is Important for pNetwork DAO
Modern societies have been governed by centralized models that often prioritize the needs and interests of the few head figures. While this form of governance might have had fruitful effects in the past, today, with populations and economic disparities on the rise, decentralization, autonomy, and community-centered values can ignite a paradigm shift in governance — for the better.
To materialize these values, not only has pNetwork eliminated intermediaries — and its associated time and costs expenditure — but it has also coded a system that enacts transparent governance and redistribution of benefits.
pNetwork’s progressively decentralized model was officially epitomized in July, last year, when the pNetwork DAO (decentralized autonomous organization) was launched. Open governance, decentralization, and a reward system put in place aim to encourage community participation where all stakeholders are equally accounted for and have their opinion valued.
Every pNetwork member is welcome to foster a place that is for everyone, and by everyone.
Decentralization and Autonomy
A decentralized autonomous organization (DAO) inscribes its rules in a computer program, in this case, on a blockchain. Through the DAO, governance can happen at the protocol level, flattening hierarchies and allowing organizations to function based on automated trusted transactions and value exchanges, coordinated through a consensual protocol.
Following these principles, the pNetwork DAO distributes decision-making power and earned participation fees across active members. This not only achieves transparent governance and community engagement but also dissolves risks usually associated with human manipulation.
By accepting any amount of staking in the DAO (interacting directly though Aragon, while 3,000 PNT is the minimum stake via Eidoo), pNetwork is committed to its entire community and calls upon all those who are likewise committed — open to give and receive project-shaping opinions and cooperate to ensure transparency, in turn.
Transparent Lenses, Clearer Vision
The pNetwork decentralized autonomous organization (DAO) model summons up democracy and decentralization of power by offering members, essentially, two ways of active participation in the project’s ongoing and future development:
- PNT holders can cast their vote by staking PNT (the pNetwork’s native token) and receive daoPNT with a value directly proportional to their voting power.
- Members can secure and validate pNetwork’s transactions by staking 200,000 PNT to become node operators.
It is thanks to the network of node operators and through the DAO mechanism that pNetwork’s transparent governance, autonomy, and safe dApp usage is guaranteed since they monitor and challenge the integrity and correctness of the system permanently.
By becoming a DAO voting member, anyone is welcome to join pNetwork’s ecosystem and enlarge our pool of possibilities by deciding on pNetwork’s future. This will not only foster more cross-chain solutions, but it will ultimately achieve DeFi’s mission to create a permissionless ecosystem for everyone.
Stay Active, Boost the Ecosystem
A decentralized autonomous organization business can succeed only via a community that is active. This is why pNetwork rewards continuous members’ participation by distributing PNT rewards at the end of each epoch. As of August 2021, active DAO members receive 21% in APY.
Bear in mind that active participation refers to those who vote in all proposals — as approved by the DAO recently. This has the aim to maintain community engagement at all times.
Our model of opportunities and rewards has been devised to advocate for equality within the pNetwork DAO, where transparent governance is possible via constant audition of smart contracts running inside Trusted Execution Environments (TEE).
The marriage between community engagement and decentralized governance is providing DAO members a new level of organization — one that copes with current social and economic needs and overthrows archaic models based on hierarchies and fragmented power.
pNetwork is set to achieve a true DAO status through unified participation and it’s open for you to join now.
🔗 For any blockchain project looking to integrate pTokens into their infrastructure, we have also built a pTokens JS library.
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