We're thrilled to announce that the Self Chain DAO website is now live! This marks a significant milestone in our journey to empower the Self Chain community and make decentralized governance a reality. Building on our previous discussions about Self Chain DAO's purpose and importance, let's delve into how it works and what it means for you.
How Self Chain DAO Works
Self Chain DAO operates on a robust and inclusive framework, enabling our community to actively participate in shaping the project's future.
Here's a step-by-step guide to how it all comes together:
Proposal: It all begins with a proposal. An initiator generates and submits proposals covering various aspects of community growth and other matters affecting the DAO community.
Review and Feedback: Once a proposal is submitted, DAO members come into action. They review the proposal thoroughly and provide valuable feedback within the forum (our discord channel), fostering a collaborative atmosphere.
Revision: Feedback is crucial. The initiator takes this feedback seriously and revises the proposal accordingly, making sure it aligns with the community's vision.
Consensus: With a revised proposal in hand, the community members reach a consensus on whether it should proceed to the next stage for on-chain voting. It's all about collective decision-making.
Uploading to On-Chain: Once consensus is reached, the proposal is uploaded onto the blockchain for token-based voting. This step ensures transparency and security.
Governance Decisions: DAO members step up to cast their votes on the proposal. This is where the real magic happens – your voice is your vote.
Smart Contract Execution: With the majority's approval, the smart contract is executed, and the DAO moves forward with the approved proposal. This marks the beginning of tangible action.
If you're wondering who gets to make these important decisions, it varies depending on the proposal. Before the Self Chain mainnet, some proposals will use FRONT and HOTCROSS tokens as voting tokens, providing an opportunity for holders of these tokens to actively participate in steering the Self Chain project in the right direction.
But what happens after the Self Chain mainnet launch? Well, it gets even more exciting! SELF holders will exclusively wield the power to vote on all future decisions of the Self Chain protocol. This means that as the project evolves, your ability to shape its path becomes even more significant.
The Upcoming Proposal
Exciting times are ahead! In the coming weeks, a significant proposal will be unveiled within the Self Chain DAO. This proposal will shape our project's future, and your voice is crucial in this process.
Stay tuned for updates on this upcoming proposal. Your voice matters, and together, we're shaping Self Chain's path in the Web3 ecosystem.
About Self Chain
Self Chain is the first Modular Intent-Centric Access Layer1 blockchain and keyless wallet infrastructure service using MPC-TSS/AA for multi-chain Web3 access. The innovative system simplifies the user experience with its intent-focused approach, using LLM to interpret user intent and discover the most efficient paths.
Self Chain ensures that onboarding and recovery are effortless with keyless wallets that grant users complete self-custody over their assets. In addition, it provides automated rewards to dApps when they efficiently resolve user intent, further enhancing the user experience. Moreover, Self Chain incorporates Account Abstraction with MPC-TSS to provide secure signing and reduce transaction fees. It's a platform that redefines blockchain interaction, making it more secure and user-friendly for everyone.
In a world where blockchain technology is becoming increasingly essential, the user experience remains a critical factor in its adoption. Intents and Keyless Wallets are set to transform the landscape, making blockchain interactions more accessible, efficient, and secure. As we move forward, the blockchain industry has the opportunity to provide users with a seamless and enjoyable experience, unlocking the full potential of this groundbreaking technology.