Decentralized Governance
To play a key role in creating incentives and building a broad base of stakeholders and facilitating economic flows in the network, we have set up the Rocket DAO, a channel that contains a series of on-chain and off-chain governance processes that help us coordinate incentives and streamline collaboration between Rocket teams, creators and consumers.
The Rocket DAO and governance processes are designed to enable the Rocket community to reach a fair and unbiased opinion on meaningful and significant decisions that are in the interest of the broader community, thereby maximizing transparency in the voting process and post-voting execution, while ensuring the safe and stable development of the Rocket project.
Rocket DAO's decentralized governance will bring many benefits to project development and eco-building, including
- By assigning control of the project to the Rocket DAO decentralized group, it will make the Rocket ecosystem more secure - thereby limiting the ability of any one party to control the system's governance.
- Providing meaningful stakeholder representation in decision-making through Rocket DAO and ensuring long-term incentive alignment among stakeholders helps make decentralized governance more effective - enabling it to contribute to the overall health of the Rocket ecosystem's decentralized economy and sustainability of the Rocket ecosystem.
- Support legal power decentralization by reducing stakeholder reliance on any individual or group for stewardship - thereby reducing the risk of potential information asymmetries.
To ensure effective DAO governance, Rocket DAO will have a number of incentives to encourage active user participation, including pledge voting incentives, compensation for Rocket DAO representatives, etc.
Also to prevent malicious attacks, Rocket DAO will use a "progressive decentralization" approach to electricity, gradually transferring full control from the Rocket team to the community when the ecosystem becomes more secure and stable.
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