Mean DAO is a community-led organization where decisions are strictly based on voting and consensus amongst members.
What is Mean DAO?
Mean DAO is a decentralized autonomous organization that functions with a single purpose of building decentralized products. It requires blockchain infrastructure for acting as financial equalizers for people and businesses globally. Mean DAO works on the philosophy that the quality of the product and community comes ahead of everything else. Thus, it enables projects and people across the DeFi space to collaborate and vote for building the best products to ensure the future of finance.
The Purpose of Mean DAO
The purpose of being a DAO is that builders, investors, and users have incentives to encourage the use MeanFi and Mean Protocol while benefiting all parties simultaneously. Mean DAO was started as a community-led initiative where all decisions are made through a governed voting system. It includes what, how, and when Mean DAO products are created.
Who Can Vote?
An existing MEAN token holder can vote on major decisions for the Mean DAO protocol, either directly or through any derivative instruments when MEAN is locked. Voters can access the Mean DAO Governance Portal and vote either ‘in favor’ or ‘against’ the MEAN Improvement Proposals. Here are some examples of MEAN Improvement Proposals that can be voted on.
- Treasure revenue allocations and distribution
- Various kinds of protocol and app fees
- Price oracle changes
- Risk parameters like debt value and liquidity ratio
- Incentivized rewards for MEAN tokens
- Protocol upgrades
Voters can vote depending on their Mean Voting power. It depends on the total MEAN holdings, the total MEAN committed and locked in derivative instruments, and the user’s merit and reputation scores.