Utility #3: Governance
A DAO will be created to oversee the Ecosystem Development Fund (EDF) the purpose of which is to subsidise new application developments built on top of Unido Core technology. Once launched, anyone in the ecosystem will be able to submit proposals in a bid to secure funding for their project.
Governance of Unido Core will be carried out via a dedicated portal available to token holders. The website will list Unido Modification Proposals (UMPs).
Modification proposals will be available in the following categories:
Fundamental changes to the platform
Changes to the rate of consumption of UDO applied on an app by app basis
Developer grant proposals
Proposals to onboard new developers and apps into the ecosystem
UDO token holders will have the opportunity to partake in the democratic elections, facilitated by the DAO, to vote on which proposals are chosen to receive funding and to determine the broader direction for the ecosystem.
Participants will need to stake their UDO and will subsequently get rewarded with additional UDO from the EDF for participating (see Unido Governance for further information).
Unido expects the active participation in the DAO community to grow as the ecosystem matures and thus the number of UDO tokens locked in governance will increase over time.