NetMind DAO Community
NetMind DAO explained
The NetMind Decentralised Autonomous Organization (DAO) is the governance body managing the development of the NetMind project and determining how the DAO’s treasury uses its NMT reserves.
Why Was The DAO Created?
A DAO is the clearest way to adhere to decentralized principles and incorporate the community into the project’s development. The DAO brings transparency and democracy to NetMind Power while taking advantage of the community’s capacity to contribute to its overall success.
How Does The DAO Work?
The NetMind community proposes and votes on platform enhancements, partnerships, and tokenomics adjustments. Proposals will be submitted, considered, and voted on by users through the DAO’s governance system.
What Tasks Does The DAO Fulfill?
Fund Allocation and Management
The DAO treasury holds 20% of the NMT supply, and this portion of funds will be locked for a period of five years. The DAO distributes these funds based on the community’s decisions and votes.
Community proposals refer to initiatives that will contribute to the growth of NetMind and generally require investment from the treasury; if a proposal is voted for, then the treasury funds its implementation.
Partnerships and Collaborations
The DAO will be at the helm of forging strategic partnerships and collaborations. These alliances will be meticulously evaluated to ensure they resonate with the overarching vision of NetMind.
The NetMind Chain is maintained by 21 master nodes elected by the community through staking. NMT holders are free to stake their tokens with any of the master nodes, allowing them to support nodes that they believe represent their values in the DAO.