Decentralized Governance in Action: The Sandbox Launches DAO
The Sandbox, a decentralized gaming platform, officially Released Sandbox DAO, It is a decentralized autonomous organization (DAO). The launch will take place in three stages. From May 28th.
This allows SAND token holders and LAND non-fungible token (NFT) holders to: Vote on governance issues and suggest improvements. teaThrough Sandbox Improvement Proposals (SIPs) Sandbox staff will oversee some of the work.
According to The Sandbox team, community members You have the power to participate in a variety of decisions, from allocating funds to choosing topics for events like Game Jam.
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Minimum number of community members Five SAND tokens or one LAND NFT can vote for the three initial SIPs. It is considered critical to start the operation of the DAO.
The second phase, the ‘Explore’ phase, focuses on: The Sandbox Makes the DAO self-sufficient, gradually reducing its dependence on its parent company.
In the third and final phase, the DAO is expected to achieve: Full operational independence with community-driven governance at its core.
The Sandbox team detailed the logic behind this step-by-step approach.
We want to ensure a thoughtful and well-executed launch. This allows us to test and iterate on the functionality of the DAO, learn from any problems and make any necessary adjustments. <...>. We are taking a cautious and prudent approach to preparing for sustainable growth.
A leadership team consisting of a council and advisors was established. The Council will work with trusted partners to develop the DAO, and advisors will provide guidance and expertise. The Sandbox team stated:
The committee reviews all SIPs and provides feedback. They meet every other month to review SIPs and may reject proposals based on legality, inconsistency with, or duplication of the DAO vision.
Committee members include: Yat Siu, co-founder and CEO of Animoca Brands. with Sébastien Borget, co-founder and COO of The Sandbox; Jean-Michel Pailhon, co-founder of Grail Capital.
This initiative demonstrates The Sandbox’s commitment to decentralization and community engagement and sets a precedent for how gaming platforms can evolve through collective governance.
In other news, gaming software company Animoca Brands has entered the Bitcoin ecosystem by launching the new OPAL protocol.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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