Genesis Proposal : Governed by $REI Holders

Summary

REI DAO is a form of management organization with specific implementation methods for promoting community development. The specific payment method of the cost of ecosystem construction and marketing for REI Network including grants distribution, market promotion, and developer incentives will be realized by REI DAO. Besides all the expenses for marketing, operation, and ecosystem development are managed and spent in the way of DAO.

Compared with the community autonomy and proposal mechanism in the GXChain era, REI DAO is a more standardized, decentralized, and diversified management form, which can not only objectively and effectively reflect the actual needs of the community, but also the implementation plan that is compatible with the opinions of various sectors.

Governance based on REI DAO will create a comprehensive and transparent community, distributed opinion collection mode. Under the management of DAO, the expenditure of Marketing grants and REIcosystem/dev-grants will be carried out on a daily basis under the supervision and management of the community. Anyone who holds a certain amount of $REI is qualified to put forward governance proposals, so governance demands expression under these conditions will become flattered and distributed. On this basis, community opinions about future directions including protocol deployment, grants distribution, market budget allocation, and evolution route from REI DAO can be more efficiently and directly proposed in the form of "proposals".

REI DAO Council, a community-based organization is established to promote the prosperity of on-chain governance. Council members are able to directly put forward proposals, while other participants could initiate any discussion that benefits the REI network and build influence in the community to get more people to agree with your proposal and get in touch with Council members to discuss your proposal on the Community Call and Twitter Spaces. After making a formal proposal, it will be upgraded to the on-chain voting session.

By holding governance tokens $REI, REI DAO participants not only have the opportunity to share the bonus with the marketization of REI Network but also have the incentive to define where the system will go.

All details of our proposal can be found here: https://forum.rei.network/t/genesis-proposal-governed-by-rei-holders/32