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Governance in SUIS refers to the process of making decisions within the ecosystem through community voting using SUIS tokens as votes.
The role of the community is crucial in the SUIS project. The decentralized and community-driven nature of cryptocurrencies have contributed to their significant growth over the years. To maintain this advantage, SUIS has established a Decentralized Autonomous Organization (DAO), named SUIS DAO, to empower the community to make decisions. The aim of SUIS DAO is to ensure that decision-making is centered around the community. The principal-agent problem, which arises when individuals or groups have conflicting interests with decision-makers and their representatives, is resolved through the implementation of a DAO. Community governance is the solution provided by DAOs to this issue.
The DAO will be at the center of these two user interactions:
Community Decision-Making: SUIS places a significant emphasis on community involvement. To ensure that all projects align with community interests, all future projects must be approved through a voting process conducted by the SUIS DAO. Members of the community can cast their vote to approve or reject a project based on its merits.Governance Proposal: The community also plays a role in determining SUIS's overall direction through proposal voting. This process allows for community input on important decisions related to treasury management and changes to the smart contract system.
How do I join DAO?
Access to the DAO will be through the possession of SUIS , with each token corresponding to one vote.