Releasing Decentralized Governance Software
The vision for the Creator’s Galaxy is that the community of Creators, Fans, and applications will directly govern its evolution over time. These members of the community have direct influence and control over new features, policies and economics.
In Creator’s Galaxy Improvement Proposal CGIP-4, Calaxy defined the Hedera Consensus Service (HCS)-based ballot & voting architecture that enables this decentralized governance.
CGIP-4 defines a model for using HCS messages to record:
- Proposals for modifications, enhancements, and broad evolution of the Creator’s Galaxy
- Coin-based voting on those proposals
- The results of those ballots
CGIP-4 proposes a framework by which arbitrary members of the community can propose new features or enhancements, and by which the broader community can vote either in favor of or against that proposition — with their vote weighted by the number of $CLXY coins they own.
HCS provides an open, transparent and provable repository/database of propositions, votes, and ballot results. As the governance topic has no submission keys, anyone can submit a proposition and/or vote on one. As the HCS messages are archived on third-party mirror nodes, the history of propositions and votes is public and auditable.
The below picture shows how the governance model uses HCS to record the creation of a new proposal for an enhancement, subsequent coin-weighted votes from the community on that proposition, and the announcement of the results of the ballot. The votes are weighted based on a snapshot of account balances taken just before the start of voting.
HCS ensures that all can be confident that the governance is transparent and auditable.
Open Source Implementation
Calaxy is pleased to announce an open source implementation of the above model, available from the Creator’s Galaxy github here.
Below is a representation of the Proposal UI.
CGIP-4 and the corresponding open source implementation is but one example of Calaxy’s commitment to contributing toward the Hedera ecosystem.
A full list of the current CGIPs is available here.
In conjunction to this open source codebase for decentralized governance, communities can use the HTS distribution tool previously released to manage treasury and act on the proposals voted on. We see these as some of the fundamental building blocks for DAOs on Hedera.
Additionally, Calaxy is contributing towards the definition of a Hedera Improvement Proposal (HIP) for metadata for fungible tokens on Hedera Token Service (HTS), analogous to HIP-10 for NFTs. An early draft of this FT metadata schema is available here.