Governance is an important aspect of the nRide ecosystem, and the nRide token is the key to decentralized decision-making. The nRide protocol is open-source, and the nRide DAO is responsible for managing the treasury and making decisions regarding the future direction of the platform. The DAO is governed by token holders, who can vote on proposals that will shape the evolution of nRide.
Token holders have the opportunity to propose changes to the protocol or initiatives that could benefit the community. Proposals can include changes to the messaging protocol, the escrow mechanism, the registry, or any other aspect of the platform. Token holders can also vote on proposals put forward by other members of the community. The voting system is based on a one-token, one-vote principle, meaning that the weight of each token is equal to the vote it represents.
The nRide DAO is designed to be as transparent and decentralized as possible, with all decisions made by community members through a consensus-driven process. The DAO’s budget is financed by the initial treasury, as well as the proceeds from the escrow contract, in those cases where both users cancel or let the escrow timeout.
By putting the power of decision-making in the hands of token holders, nRide aims to create a platform that is truly owned and operated by its users. The decentralized nature of the DAO ensures that no single entity or group can dominate the decision-making process, and that the future of nRide is shaped by the community as a whole.
How to Join the nRide DAO
- You need to stake at least 1 nRide token to become a memeber of the nRide DAO
- Now you can participate in votings, or you can create your own proposals, for example a OTC Token exchange from the DAO treasury
- If you want to OTC buy Tokens from the treasury, create a new proposal called “Token Swap” from the action library
- Add your desired amount and set the token swap ration according to the current market price ohlc4 SMA3 on the daily
- As we are in launching phase, majority of voting power is held by the team. (..must be to secure the dao treasury) and we will confirm the OTC trade
- With more investors onboarded, team will loose its majority and investors become ahold of the DAO treasury expenses management
