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MetaDAO
At present, the MFI community has five main communities: technical community, audit community, media community, exchange community, volunteer community. Any person interested in DeFi and DAO can participate in the development of MFI. The MFI holder can vote whether to open the new/open mine pool, adjust the value, open/remove function, etc.
Phase 1-Creation: MetaFinance's development team comes from leaders of multiple active communities in the blockchain field. The common interests and values bring developers together to promote an open and transparent decision-making entity. Six technical communities acted as representatives to help MetaFinance start in the early stage of the operations . In the creation stage, when it is necessary to make a decision on a proposal, the technical community will initiate a vote; after the vote is over, the technical community will publicize the community and make adjustments and efforts based on the results.
Phase 2-community governance: After the project is successfully launched and operates well, every new decision and adjustment of MetaFinance will be publicly voted by community members. The vote of community members can determine the change of any parameter, hoping to help the community achieve common interests.
MetaDAO process includes Proposal Voting and Executive Voting. The purpose of the proposed voting is to form a general consensus in the community before the implementation of the voting. This helps ensure that governance decisions are carefully considered and consensus has been reached before entering the voting process. The purpose of voting is to approve/reject changes to the system state, and any MFI user address can deploy a valid proposal contract.
At the current stage, MetaDAO adopts a fair and open voting mechanism for community governance, and votes on MetaFinance proposals by building a complete voting system in SnapShot. Introduce the DPOS mechanism, complete the node incentive scheme, and add more rewards about the node in the future, and issue unique node NFT governance credentials, so that the node and DAO can closely aligned.
The administrators with governance rights in MetaDAO currently have the following permissions:
  • List new trading pairs/markets;
  • Adjust the economic model;
  • Choose a new administrator, or DAO organization to manage the community;
  • Modify mining pool parameters to increase/decrease block rewards and time;
  • Trigger an emergency shutdown;
  • Upgrading the system.
MetaDAO is designed to be as flexible as possible and to be upgradeable. If the MetaFinance system matures under the influences of the community. Therefore, theoretically, the form of the proposal contract will become more advanced. For example, a proposal contract can bind multiple proposals. However, these improvements are still to be jointly decided by MFI holders.
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