MetaDAO

A Decentralized Autonomous Organization In MetaFinance

At the present, the MFI community consists of five communities: Tech Community, Audit Community, Media Community, Exchange Community, and Volunteer Community.

Anyone interested in DeFi & DAO can participate in the development of MFI; MFI holders can vote on the decision of enabling newly mining pools, modifying values, and opening/removing features, i.e., empowering MetaDAO-related responsibilities.

PHASE I - Genesis Phase:

MetaFinance's development team consists of leaders from multiple active communities in the blockchain field with shared interests and values that bring developers together to facilitate making open & transparent decisions. Six technical communities are represented here to contribute to the early start-up operations of MetaFinance.

During the Genesis Phase, when decisions need to be made on proposals, the technical community will initiate a vote; after the voting, the technical community will make a community announcement and will implement adaptations and efforts based on the results.

Phase II - Community Governance: Now, every new decision and adjustment of MetaFinance is publicly voted on by the members of the community. Voting by community members can determine changes to any parameter, which will help the communities reach a common interest.

MetaDAO's governance process consists of Proposal Voting and Executive Voting. The purpose of Proposal Voting is to develop a general consensus within the community before proceeding with Executive Voting. This helps to ensure that governance decisions are carefully considered and that consensus is reached prior to entering the voting process. The purpose of Executive Voting is to approve/reject changes to the system state, and any MFI user address can deploy a valid proposal contract.

⬇️The administrators with governance rights within MetaDAO currently have the following permissions:

• Listing new trading pairs/markets.

• Making modifications to the Token Economic Model

• Selecting new administrators, or DAO organizations to manage the community.

• Modifying the mining pool settings, increasing/decreasing the block-out reward and timing.

• Triggering emergency shutdowns.

• Upgrading the system.

MetaDAO is designed to be as flexible and upgradable as possible. If the MetaFinance system reaches a level of maturity guided by the community, then, in theory, proposal contracts will also become more advanced; e.g. a proposal contract can bind multiple proposals. However, these improvements are still to be decided by the MFI holders together.