To support Unido’s vision of enabling enterprises to manage their on-chain assets, it is important to create a decentralized, self-sustaining, and inclusive ecosystem where 3rd party developers, partners, and enterprises are incentivized to leverage Unido’s Core technology to build out new products and services.
To achieve this objective, a DAO will be created to transition Unido’s governance from a centralized authority of the Foundation, into a decentralized governance mechanism - turning Unido token holders into decision-makers with the power to influence the ecosystem’s development.
DAO participants will oversee the Ecosystem Development Fund which will be used to subsidize, finance, and maintain projects/initiatives built using Unido’s technology. Once the development of Unido Core API is complete, the fund will be made available to seed early-stage projects and will subsequently be “topped up” by revenues generated from transaction fees (see Tokenomics).
A treasury system will be implemented to serve the purpose of distributing funds to different projects and to legitimize the decision-making process in a decentralized way.
Participants wishing to access the ecosystem grant will be able to submit a proposal. DAO stakeholders who wish to participate in the voting process will need to stake their Unido tokens to unlock voting rights. A specified amount of Unido tokens will need to be staked to unlock voting rights and more tokens can be staked to increase voting power. The goal is to ensure that the majority of the stake can always command the network.
Participants will follow an Approval Voting method, having the power to vote either “Yes”, “No” or abstain on different proposals. Following a successful election, participating voters will be rewarded with an allocation of Unido tokens from the DAO treasury.