NYC, May 29, 2022, ZEXPRWIRE, The success of Apecoin’s recent adoption of decentralized autonomous organization (DAO) governance has inspired Catcoin to follow Apecoin’s lead. The new model will give everyone who holds Catcoins a vote in how the coin is managed, from budget allocation to hiring decisions to board turnover.
Catcoin has chosen to embrace the DAO model that Apecoin has implemented, calling it a “majority-rules approach”. The Catcoin Foundation has indicated that they believe that this model is a fair and appropriate one for them to adopt.
They also believe that their community members were more than ready to embrace the new model, and have received no pushback from them. Infact, the implementation of DAO model will inculcate trust and affinity among the investors.
The adoption of this type governance structure marks another major step forward in cryptocurrency evolution as we move towards more separation between investors/traders and developers/users. Unlike the LLCs or Pvt. Ltd organizations, DAO allows even the smallest member by authority to be a decision maker.
Catcoin.com is following Apecoin’s lead by adopting DAO governance. However, the Catcoin community has always been a forward-thinking one. It is willing to embrace new ways of doing things—and not just tinkering around with minor changes like most other coins do these days!
In fact, it marks the one of a few cryptocurrency to adopt a decentralized autonomous organization (DAO) governance model that allows users to vote on proposals and make decisions about how the currency should grow.
How Apecoin’s DAO Model Works?
The ApeCoin cryptocurrency was launched in March 18 as a fork of Bitcoin. It boasts a unique Proof of Stake (PoS) blockchain that uses a PoS consensus algorithm to secure its network and process transactions.
The ApeCoin community follows a self-government modal under the Decentralized Autonomous Organization (DAO), the framework for decentralised governance that underpins the Ecosystem Fund. When it comes to deciding how the Ecosystem Fund will be dispersed by the APE Foundation to encourage a diversified and self-sustaining ecosystem, the DAO uses a proposal procedure to cast their vote.
The procedure for making proposals comprises different steps that will continue to develop and become better with the help of the DAO community.
In order to become a DAO member, you must have ApeCoin in your possession. The only qualification for membership is having purchased the ApeCoin from an exchange or from another person. There are no other requirements for joining the DAO.
The current members of the DAO are responsible for submitting ideas about how to improve ApeCoin and its ecosystem, as well as voting on proposals that have been submitted by other members or people outside of the organization.
Catcoin is a cryptocurrency that enables transactions in the form of smart contracts. It is used for payments and transactions on a decentralized network known as Binance Smart Chain Network.
The Catcoin project is a blockchain-based platform that aims to establish a community of cat lovers and supporters who are enthusiastic about cats. Catcoin has also begun a project to aid animal shelters financially via contributions and to build new decentralised financial solutions.
The total number of Catcoins in circulation will never exceed 100 billion, as it is a deflationary token. It wastes 2% of each transaction that it is involved in.
While some companies have been reluctant to fully embrace blockchain technology, especially after recent hacks into cryptocurrency exchanges such as Bitstamp, there is no doubt that many more will follow Apecoin in adopting DAO governance in the near future. And this trend is evidenced by Catcoin’s addition of Apecoin’s Ecosystem Fund and APE Foundation as part of its own ecosystem.
Although it seems that Apecoin was the first to adopt this model, there is no doubt that many more will follow suit in adopting DAO governance in the near future.
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