Simplified Insight into Astar Governance Proposal
This article breaks down the Astar Network’s governance proposal: Convert the [https://forum.astar.network/t/astar-governance-technical-specification-proposal/6692] into simple, easy-to-understand concepts.
This can easily be comprehended by everyone be it a casual or experienced member of the Astar community, so that they know how to play an important role in shaping the future of the Astar network.
Well, shall we? Let’s go right into it! 👇
Introduction: The Power of Participation
Imagine a system where every voice matters, where every stakeholder in a network has the power to shape its future — this is the core of Astar Network’s governance model.
Led by the technical magician Hoon Kim, the former CTO of the Astar Foundation and now an instrumental figure from the community in the Astar Network, this governance model is designed to ensure that every participant, from developers to casual users, can contribute to the network’s evolution.
Astar Governance: Democracy in Action
Astar Network has introduced a governance token, govASTR, which represents voting power. Unlike usual governance models that might use monetary value to measure influence, Astar’s model prioritizes activity and contribution over financial speculation. Here’s the best part: govASTR is issued based on the amount a user stakes in the network, aligning voting power with network support.
Astar designs a key strategic approach to address the decentralized networks “typical” issue which is voter disengagement. People will be able to appoint their votes to the decentralized apps that is exploiting the network on their own behalf, therefore increasing the power of those who contribute actively and use it regularly.
Votes at risk of bribing — individual stakers not delegating and smaller dApps (We can assume this to be <20% for all practical purposes after looking at the stake distribution data).
Therefore, the given framework provides for a co-operative scheme which takes into account the sentiments of its members hence giving everyone a chance to be actively involved in these decision-making processes.
The Technical Backbone
Unlike most governance systems, this one is based on a number of high-tech mechanisms that allow the system to be managed justly and properly.
On the other hand, the quadratic voting increases the influence of the smaller stakeholders, hence, leading to the more balanced distribution of the power.
Then, the governance proposal queue system uses a smart scoring method to prioritize the waiting time and the governance proposals’ importance, making sure that the most critical issues are handled immediately.
Treasury Management: Fueling the Ecosystem
Astar Treasury oversight is key to the structure of the organization. Money will not just be an investment point; this will be also a tool for tactical development.
It covers the whole spectrum of the ecosystem starting from the network infrastructure and protocol development, business development to reach out and gain trust.
Using the treasury as a main store of funds, Astar breaks it into different sub-treasuries which in the long run ensures that funds are channeled where they are required to projects that missions of the network are not disrupted.
Treasury setup:
Based on the information we observed in the Polkadot and Kusama ecosystems, we suggest an initial breakdown of treasury spending via the creation of the following sub-treasuries:
- Protocol Development — 28%: covers any software development that is funded through the treasury (like the Astar Governance model)
- Outreach/Marketing — 18%: covers all Social activities, media productions, educational activities
- Infrastructure — 23%: includes recurring software and hardware costs incurred to operate the network and auxiliary services like block explorers
- Operations — 6%: Incentivising council members and governance stewards for their continuing contribution
- Business Development — 20%: funds allocated to attract new dApp categories and companies to the Astar Network ecosystem
Conclusion: The Future Is Collaborative
Astar Governance is much more than a mere system; it is rather a memorandum of our people’s capacity to mold the future digital environments by means of synergy.
It is a beacon for every Astar community member to get involved, participate and determine the way forward. Through the Astar Governance process users do not just follow the change — they define it.
Now that you are full of all this information, how sure are you ready to participate in the future of Astar Governance? ⚖🛡
Matt is a true Astarian, deeply immersed in the world of cryptocurrency. He wears many hats within the ecosystem, holding multiple roles that highlight his dedication and expertise.
As a dApp builder and Ambassador for Astar Network , Matt is actively involved in both the development and promotion of this innovative network. Not only that, but Matt is also a Core Member of various Astar projects, including AstridDAO , Bluez , SiO2, L2X and C14!
