Announcing KimchiDAO
Phase 1 focused on establishing Kimchi as a viable token with yield farming being it’s primary usage. In the process, a very strong and committed community grew up around the Kimchi token.
Today, we are proud to announce Phase 2 of the Kimchi journey. Phase 2 has two main focuses: expanding the Kimchi ecosystem and solidifying the Kimchi community.
The first step in the process is to adopt a decentralized governance model to establish a self-sustaining, community led, organization. Or in other words, a DAO.
Through the KimchiDAO, we will be able to organize the Kimchi community into a single coherent body that can effectively work together to clearly define the goals of the Kimchi project. The KimchiDAO will also enable us to execute the necessary steps that need to be taken in order to achieve those goals.
Part of the on-going work of the KimchiDAO will be to promote and facilitate the expansion of the Kimchi ecosystem by creating new additional uses for the Kimchi token. The possibilities for new uses for the Kimchi token are endless. Each week we see new use cases for tokens being realized. The KimchiDAO will need to decide which new use cases are in line with the overall vision of the project, then develop a clear road-map for implementing those new uses.
This first iteration of the KimchiDAO will not be the last. The KimchiDAO will need to be fluid and able to react to the changing needs of the DAO and of the project.
This iteration of the KimchiDAO is a “space” on the Snapshot platform. It is possible that we will decide to move to new spaces on the Snapshot platform in response to future needs that may arise. Eventually, we will want to establish a full blown on-chain DAO that is fully integrated with the smart contracts that make up the whole of the Kimchi ecosystem.
There are many decisions that need to be made and much work that needs to be done. It will not happen overnight. It will take time for us to accomplish our goals. But through the KimchiDAO, we will be able to achieve those goals and to realize the true vision of Kimchi!
Please join us in the First iteration of the KimchiDAO
Who can vote? Who can create proposals?
Both voting and creating proposals is free for anyone who holds at least 300,000 KIMCHI in their wallet or in the Uniswap KIMCHI/ETH Liquidity Pool at the time of the snapshot.
Let’s do it!
