INTRODUCTION TO DECENTRALISED COMMUNITY OF GAMEFI PROTOCOL
THE CONCEPT OF DECENTRALIZATION
Decentralisation is a word that's used to describe a situation where the activities of an entity or an organisation, especially activities bothering around decision making and authorization of events are taken away from the central governing body or individual and put in hands of a larger non concentrated group of individuals.
It entails an idea of independence, liberty and participation of interested parties or individual in the governance of an organisation. This means that an organization that is decentralized doesn't actually have a specific owner, and major decisions are taken by a community of people who share a particular identity. This reduces the possibility of a simple point of failure and increase more trust.
DECENTRALISATION IN BLOCKCHAIN
The movement of control and decision-making from a centralized entity (person, organization, or group thereof) to a dispersed network is referred to as decentralization in blockchain. Decentralized networks aim to limit the amount of trust that participants must place in one another and to prevent them from exerting power or control over one another in ways that harm the network's performance.
Decentralization varies depending on the blockchain protocol, decentralized application (dApp), Decentralized Autonomous Organization (DAO), or any blockchain-related solution. The maturity of the solution, the time-proven reliability of its incentive models and consensus procedures, and the capacity of the founding team to strike the proper balance determine the adoption level. Many DAOs, for example, have various components at various stages of decentralization: oracles (third-party services that provide smart contracts with external information) may be partially decentralized, smart contracts may be fully centralized, and the governance process for adjusting parameters will be fully decentralized.
Blockchain technology allows for new ways to trade crypto currency and information while also automating complex procedures in a transparent and secure way. A decentralized autonomous organization (DAO) is a company that operates entirely and autonomously on the blockchain network, following rules contained in smart contracts. DAOs are commonly referred to as "trustless" systems because they do not require human intervention or centralized coordination.
THE UNIQUENESS OF THE GAMEFI PROTOCOL DAO
The GDAO is the Decentralized Autonomous Organization (DAO) of the GameFi Protocol, the project encourages GFI holders to organize GDAOs on their own to carry out the GameFi Protocol's community governance. GDAO uses a democratic system in which one vote equals one GFI. By voting, the GDAO can decide on the following issues:
⭐️The function settings of GSwap, GameList, GNFT, GLanunch, and Lottery/Grab box.
⭐️Launching game on GameList.
⭐️Selling GNFT gaming NFTs.
⭐️Launching IGO games in GLaunch.
⭐️Initiating new game plays of Lottery/Grab box.
⭐️Modification and improvement of GFI tokenomics.
⭐️The strategic planning of GameFi Protocol.
⭐️Modifications and improvements of other rules.
Other important features of GDAO
Core proposal: Submitted by GameFi Protocol team, voted by GDAO, and implemented after approval.
Community proposal: Submitted by the community, reviewed by the GameFi Protocol team, voted by GDAO after passing the review and implemented after approval.
2. DAO fund pool
In the future, we will introduce a governance fund pool that enables users to stake their GFI tokens to obtain xGFI tokens.
Only xGFI token holders have the right to vote on governance proposals, 1 vote for 1 xGFI.
3. DAO VC
GDAO will set up GameFi Protocol VC to invest and incubate other projects according to the ecology of GameFi Protocol
✨For more info you can visit: https://gamefi.ai/dao
And stay connected to Gamefi protocol via:
TG Channel https://t.me/GamefiProtocol_Announcement
TG Global Group: https://t.me/GamefiProtocol