One of Investors' Favorite Governance Blockchains Is Handing Over $20 Million

Published on by Coindesk | Published on

Governance is one of the hottest topics in crypto right now - and Decred developers' take is that the community should decide.

By way of the release of a communication tool called Politeia, they will soon be giving that community $20 million in DCR tokens to manage.

Decred's CEO Jake Yocom-Piatt built btcsuite, a software for interacting with bitcoin using Google's programming language, Go, with several other developers that are now part of the Decred team.

That treasury account, which now has $20 million in it and is growing every five minutes or so as blocks are mined, is currently under the control of Decred developers, but very soon they'll release Politeia and the funds will be in the hands of the community.

The premine accounted for 8 percent of the total token supply of 21 million tokens - valued at around $820,000 at the time.

Sure enough, EOS itself has a very similar pool of funds that developers are supposed to be handing over to the community, although without a clear method for deciding how to do that, the funds currently sit idle.

"Politeia lays the foundation for other organizations - be they crypto networks or organizations in the broader universe of the world - to use Politeia as a governance mechanism."

While anyone can push a proposal through the Politeia, only those called to vote at the time can vote those proposals up or down.

Once a proposal is approved, the voting period opens and those called to vote on a block will be able to make decisions about whether the proposals should get funded.

In an October 2017 blog post, Yocom-Piatt wrote, "The larger goal with Politeia is to create a resilient public record that mimics the function of typical nation state websites for their governance bodies, e.g. or"