EPNS GOVERNANCE

in #epns2 months ago

logofulltaglinedribble.png

This is how we are going to sail, in this article, we are going to be introduced to EPNS governance, community involvement, then we dive into phases, then the roles of governance.
A first step marks a decision, a new direction; it declares moving forward despite the fears or self-doubt. And so EPNS has taking a step towards the strides. The EPNS community is fundamental to the network’s success. By launching the Progressive Decentralized Governance infrastructure, it now take another step towards greater community participation. For EPNS, it’s a thrilling experience. For the community, it’s the introduction of the necessary toolkit for discussing and organizing the protocol’s future.

Antonio Brown once said “The journey is never ending, There’s always gonna be growth, improvement, adversity; you just gotta take it all and do what’s right, continue to grow, continue to live in the moment”. It’s with this that EPNS has grown exponentially since the launch of the $PUSH token in April, particularly concerning community engagement. Over 5,400 addresses have already subscribed to EPNS channels, and currently, there are over 3,600 on-chain token holders.

Following the Token Genesis, it implemented several community incentivization programs, including liquidity mining and staking initiatives. During this phase, it also launched the $ROCKSTAR EPNS NFT, while activating the $PUSH rewards mechanism to express gratitude to early adopters.
Implementing EPNS Governance marks the protocol’s next milestone, as it gradually move towards complete decentralization of the decision-making process. In this first iteration of the governance mechanism, Snapshot would be used, which is an off-chain and gasless multi-governance client. Due to its Snapshot-based implementation, the voting mechanism shall be weighted based on the number of $PUSH tokens delegated to the voting address. Hereafter, any potential modifications to the protocol must pass through a proposal and voting process.

The EPNS governance would be carried out in phases and so it begins when EPNS Governance launches on September 16, the community would be involved, to vote and make proposals on the following areas:

  1. Grants Program: Grants would be allocated to teams, projects, and initiatives across the ecosystem that are helping build around the EPNS ecosystem. The grants funds will come from the $PUSH Community Allocation.
  2. Weekly Rockstar NFTs: each week, one EPNS community member is airdropped an NFT based on their contributions to the ecosystem. Voting for the recipient will now be part of the governance process.
  3. Meta-Governance: token holders can pass and vote on measures affecting how EPNS governance evolves past phase 0.

Please note, as the protocol matures, EPNS Governance will further decentralize and include more categories giving the community more power over the protocol. The governance process for Rockstar NFTs will follow a slightly accelerated process, to ensure community members are rewarded quickly! The process will skip the “Proposal” portion, and go straight to Snapshot. Team Champions will nominate 4 Rockstars from the past week, and the $PUSH community will vote for their top choice in Snapshot.

Governance Roles

There are four main roles in EPNS Governance:
« PUSH Nominee: Active community members who strongly support the vision of EPNS can nominate themselves to be a PUSH Nominee. $PUSH token holders can then choose to delegate their voting rights to any Push Nominee, who can vote on governance proposals through Snapshot. Nominations are now open
« PUSH Delegatee: PUSH Delegatees are active members of the community who have at least 75,000 $PUSH delegated to them. They will be able to create proposals on Snapshot that are approved on the forum.
« PUSH Holders: $PUSH holders can delegate their voting power to anyone, including themselves. They can also delegate it to a PUSH Delegatee to ensure their views and thoughts are well represented. The PUSH Delegatee can be changed at any time.
« PUSH Champions: A key part of our decentralization is making sure the community feels empowered. PUSH Champions are active community members that provide support to the EPNS metagovernance in various ways.
There are 3 categories of PUSH Champions.
· Community Champions: Web3 leaders who support the visions of EPNS and are willing to educate and empower the community to carry out progressive decentralized governance.
· Team Champions: EPNS team members who are dedicated to guide and assist the community to implement a fair governance procedure.
· Elected Champions: Elected community members who are trusted with the duty to assist the community to carry out a smooth governance process during each stage of a proposal.
Governance Process

  1. Proposal Phase: This is the first step to take. For any proposal to be accepted and executed for EPNS Governance, the initial proposer needs to submit their proposal on the Governance Proposal. Then submitted following the rules which is then promoted to government discussion. To submit a draft proposal, the given template must be adhered to, also following the governance rules
  2. Discussion Phase: In this phase, you should draft proposals for the community to debate them and express approval or disapproval.
  3. Governance Phase — Snapshot: Once the proposal on the Governance Discussion section meets the promotion criteria, It’s considered a formal proposal and requires formal voting which takes place on Snapshot. A formal proposal can be defeated or accepted.

PS: Ensure all processes and rules are adhered to.
Stay in touch! Website | Twitter | Telegram | Medium | Whitepaper | Litepaper
Subscribe. Notify. Earn.

Coin Marketplace

STEEM 0.71
TRX 0.10
JST 0.074
BTC 54921.43
ETH 4139.94
BNB 618.65
SBD 7.11