Progressive Decentralization of Vite Labs
Why Vite DAO?
Vite Labs was founded as a small startup in 2018 — nothing more than a genesis team of misfits and mavericks, trying to put theory into practice in the world of blockchain. The past five years have been marked by high highs and low lows for everyone in web3. The main goal of Vite Labs was to create a zero-gas network that enables smart contracts. Today, Vite Labs takes the first step in its historic transition into a decentralized autonomous organization (DAO).
From day one, the genesis/founding/core/development team behind Vite Labs was ardently in favor of full decentralization. However, web3 was nascent. Many of the tools and best practices of DAOs were invented only recently.
Vite Labs is decentralizing into Vite DAO for the following reasons:
- Centralized entities in web3 (and adjacently, traditional finance and public policy) are demonstrably mismanaged and/or dishonest.
- Decentralizing authority and responsibility negates centralized points of vulnerability and failure, increasing resiliency in the long run.
- Sovereignty, autonomy, and consensus are core ideals in web3 that can only be upheld through full decentralization.
Sooner than anyone expects, there may come a day when DAOs outperform and outlast all other forms of centralized organizations including corporations and governments.
Vite Ecosystem
Vite Labs was the genesis team and development group behind the Vite network — the blockchain layer-one (L1) that supports smart contracts and cryptoassets.
Vite DAO includes the group that was called Vite Labs, as well as contributors around the world. Vite is grateful for its community members, who have been loyal and helpful in this way for years.
ViteX is a decentralized exchange (DEX), formerly cultivated by Vite Labs as its flagship decentralized application (dApp). ViteX is decentralizing through ViteX DAO.
VITE is the token associated with Vite, the L1. VX is the token associated with ViteX, the DEX.
“DAOification”
Some big things are cooking! The DAO world is expanding so rapidly every day, that flexibility and adaptability are prerequisites to success. We welcome community feedback and contribution particularly in relation to DAO tools, governance mechanisms, treasury management and transparency, community empowerment, and technical development especially in DAO-related dApps. Look out for paid bounties, proposal opportunities, voting opportunities, and token-gates access in the future.
Join the DAO conversation on Twitter and Discord!
Vite DAO is inspired, in large part, by the successes in the Ethereum ecosystem among DAO and DAO-related organizations like MetaCartel, Nonce, Gitcoin, Maker DAO, RaidGuild, Syndicate DAO, Hats Protocol, Cabin DAO, DAO Haus, Coordinape, MCON, and DAO Research Collective. Vite is inspired to create a healthy and vibrant ecosystem for DAOs, the same way DAOs are supported in the world of Ethereum.
DAO Contributors
“DAOification” is the process of progressive decentralization. That which is top-down is reconfigured to be bottom-up, giving sovereignty and autonomy to the true participants and stakeholders in a community.
Henceforth, the core team of Vite Labs will be known as core contributors — contributors just like anyone else in the Vite ecosystem. Vite calls on web3 practitioners passionate about communities, applications, and cryptoassets to journey forward together. For developers who wish to evolve and elevate the Vite ecosystem by creating tools and protocols, support is available.
To become a contributor, join the conversation on Twitter and Discord.
ViteX DAO Roadmap
- Research, development, and strategy for DAO contributors (e.g. authority delegation, incentives and accountability, treasury and community governance).
- Community education, DAO-specific branding, and public relations to reintroduce Vite Labs to the world as Vite DAO.
- Progressive handoff of network management and development to leaders from the Vite ecosystem.
- Proposals for community-voted and community-delegated leaders (e.g. ViteX DAO Snapshot Block Producer (SBP), ViteX smart contracts, off-chain services, governance rights for marketing).
- Voting for specific DAO tools and mechanisms.
Official: https://www.vite.org/
ViteX Community DEX : https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Russian: https://t.me/vite_russian
Arabic: https://t.me/vite_arabic
Spanish:https://t.me/VITE_Spain
Indian:https://t.me/VITE_India
Vite announcement: https://t.me/vite_ann
Reddit : https://www.reddit.com/r/vitelabs/
Discord: https://discordapp.com/invite/CsVY76q
YouTube: https://www.youtube.com/c/vitelabsofficialchannel
