Decentralized Funding – The NavCoin DAO : CryptoCurrency
There’s been a whole lot of discuss these days about using mining rewards as a type of self funding for cryptocurrency initiatives. So I believed I might carry your consideration to a challenge that has already been doing this very factor for over a 12 months now.
Late in 2018 the NavCoin community carried out it is DAO – a decentralised financing software that receives zero.5 NAV per block staked to assist self fund the community.
The NavCoin DAO runs a twin consensus voting system that – to my greatest data – will not be used anyplace else within the blockchain area. Projects are authorised for funding and cost utilizing a two-stage voting course of – one vote for the preliminary proposal, then a second for cost request as soon as the work is full. Voting is completed through nodes staking (validating) the community, and anybody is inspired to participate. 1 stake = 1 vote.
I really feel like self funding goes to play an necessary half in taking that subsequent step in direction of legit decentralization, and the NavCoin DAO is utilizing it is personal distinctive system to attempt to obtain this.
DISCLAIMER: I’m part of the NavCoin group.