Community-led projects like GDEFI ensures token hodlers have a say in the decision-making process and development. In fact, they are the owners of the project and determines its direction and advancement through their votes, proposals, and community debates.
Despite the inclusive approach, many projects in the space have a high level-entry point that disenfranchises some community members. Some of these projects have conditionalities that make it possible for only those with extensive resources to participate.
Imagine a project with a token price of $25 that requires community members to hodl 1000 tokens before they can vote, propose ideas, and debate proposals. In such an instance, the governance system is out of reach to many community members.
Yet, inclusivity is a cardinal principle in a community-led decentralized Crypto network. Members of such communities must be part of making decisions and contributions to improve the ecosystem.
GDEFI Governance Model
At GDEFI, we have created a lower-entry governance model that empowers every community member to engage in the development and direction of the project. The One Token, One Vote is a principle of enabling every voice to count in our decentralized economy.
Our vision is to guarantee that anyone who believes in the ideals and sustainable benefits of GDEFI should have the prerogative to propose ideas, technical changes, modifications and be able to vote on all decisions. Accordingly, we have set the entry point at a rate where every community member has a say.
Employing Participatory-Approach Tools (PAT), the motive is to drive good behavior, ownership, empowerment, and dedication. Moreover, our system rewards participants, thereby promoting consistency, effectiveness, innovations leading to sustainability, and the ever-increasing value of the $GDEFI token.
The governance structure is in two components, with each requiring some eligibilities and its benefits:
GDEFI Club: The GDEFI Club is an entry point for community members. It bestows only voting rights in all decisions that are open to the ballot.
At least users must have a minimum of one $GDeFi token in their wallet for the last 90 days. This governance level is to allows everyone to join the community without resources being a hindrance.
Elite Club: As an Elite Club member, you present proposals, partake in debating proposals, and vote as well. It is the governance level that empowers members to deepen their involvement in the community.
Elite Club members must hold at least 100 $GDeFi tokens for a minimum of 90 days. When a member fulfills these conditions, then he/she is qualified to have such benefits within the GDeFi scope.
It is astounding being part of a community where your voice counts, coupled with having a hand in the direction the project takes. To have a thick skin in the game is to put your money where your mouth is.
However, incentive matters! Our community members’ dedication to the project through spending resources on proposing new ideas, debating, and voting them for implementation requires a reward system to sustain the process.
Our Governance Rewards compensate those who are actively involved in all the steps in the process. Two percent of our token allocation is for this purpose.
Every six months, community members who voted, made proposals, and contributions to debates will receive bonuses in $GDEFI based on their tokens involved in the governance process.
Per our roadmap, GDEFI will be a full-fledged Decentralized Autonomous Organisation by the 3rd quarter of 2021. At this point, the community will take total control of the project, maintain and decide its direction.
The core team will continue their work with the everyday management, but all the decisions will come from the community. This arrangement will set GDEFI towards a decentralized economy run by its community members.