Community announcement: Governance platform
Decentralization forms the crux of blockchain and Web3 ideologies and is increasingly shaping the landscape of Artificial Intelligence (AI). HUMAN Protocol is continuing its drive towards a more authentic decentralization, powered by its community.
Decentralization is crucial, as we have discussed elsewhere. In addition to promoting transparency and fairness among participants, decentralization also means faster decision-making, reduced task costs, and minimized data bias, thanks to improved data verification.
As the user base expands, the pursuit of decentralization becomes increasingly imperative. The growth of HUMAN Protocol thus far can be attributed to the following values:
Although these values are fundamental, they are not sufficient to provide the level of decentralization for the next stage of the protocol journey. This is why it is necessary to introduce new Governance Capabilities.
The importance of decentralization has been a topic of discussion for a while now in the HUMAN Protocol community. Indeed, the journey toward decentralization, while noble, is fraught with challenges. It necessitates precise communication and coordination to prevent misunderstandings and conflicts. Furthermore, it could lead to power struggles or fragmentation, undermining the unity and efficacy of the organization.
Such a subject cannot be addressed lightly. That’s why the core members of HUMAN Protocol came with a user-friendly tool, which they believe meets the legitimate concerns of its community.
In its initial version, the tool could offer a list of proposals that users will be able to browse in an organized, user-friendly way. Each proposal could be supplemented with comprehensive details, including its purpose, context, and rationale. Users may l also have the ability to view the current status of the proposal and comprehend the related voting process. Regarding voting, users should be presented with three choices: to vote in favor, against, or to abstain, all accomplished through a singular transaction to guarantee a streamlined and efficient voting procedure.
From a technical perspective, HUMAN Protocol thought of using Wormhole to introduce a variety of contract features, which may include token locking, voting on active proposals, creation of a vHMT contract, and the implementation of a quadratic and/or conviction voting algorithm. The execution of successful proposals, as well as collection and time blocking, will also be on the docket.
Furthermore, HUMAN Protocol plans to broaden these features to encompass a form for proposing new ideas, a dashboard showcasing governance statistics, integration of proof-of-humanity, and delegation of voting rights, which are all driven by the vision of its community.
These ideas are not immutable and nothing is cast in stone. In the end, the community will have the last word on Commonwealth, only 1 HMT (ERC20*) token will be required, and all votes will carry equal weight.
*: In order to participate in voting, individuals must possess at least one HMT (ERC20) token on the Ethereum Blockchain. HMT held on other blockchains will not be accepted.
The HUMAN Protocol Foundation makes no representation, warranty, or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information contained here. Any assumptions, opinions, and estimations expressed constitute the HUMAN Protocol Foundation’s judgment as of the time of publishing and are subject to change without notice. Any projection contained within the information presented here is based on a number of assumptions, and there can be no guarantee that any projected outcomes will be achieved.