3.1. Project/Guild Native Assets and Token Cycles
Key challenge: Create an equitable and effective governance framework that recognizes and rewards the contributions of its participants.
Innovative solution: Implement cycle-based token minting for each guild, enabling the ecosystem to acknowledge the efforts of its active contributors while maintaining the integrity of its cellular-based governance approach.
Cycle-based token minting involves creating native tokens for each guild based on fixed-duration cycles, which can span several weeks or months, depending on the needs and preferences of each guild. Minting tokens within specific time frames allows the ecosystem to recognize and reward the contributions made by its members during specific periods.
The main objective is to ensure that each token reflects the work and contributions of guild members within a particular cycle. Each guild will operate as an independent and self-sovereign entity, with its own native tokens reflecting the contributions of its members within specific time frames. Our hope is that this design will encourage active participation in the governance process and reward those who contribute meaningfully to the success of the ecosystem.
An important benefit of cycle-based token minting is that it helps to prevent external actors from "buying" their influence over the ecosystem. Since tokens are only distributed to active contributors, the risk of tokens appearing on exchanges to be purchased by individuals with no genuine engagement in the project is reduced. Rather decision-making power remains with those who have demonstrated their commitment to the ecosystem and helps to maintain the decentralized and equitable nature of the governance framework.
In summary, cycle-based token minting for each guild can be a powerful tool for promoting equitable and effective governance within the SingularityNET ecosystem as active participants are recognized for their contributions while external actors have less influence. This approach helps to maintain the decentralized nature of the project and ensures that decision-making power is held by engaged community members. SingularityNet Ambassadors recognize this as one innovative solution and welcome other ideas as they arise to advance our collective decentralized governance efforts.
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