Scaling On-chain Governance ... Now!
The next generation of governance is here.
Today, Habitat launched their optimistic rollup framework allowing secure on-chain voting and mainnet execution. ⚡
Habitat is the new framework for protocols that are in need for scalable governance on Ethereum. By utilizing the optimistic rollup of Nutberry it is now possible to cast votes lightning fast and with a 97% cost saving compared to a regular mainnet vote.
To offer scalability and exploration to all DAOs and DeFi protocols, no matter how big or small - every project can create their own individual domain. 👯♂️
Domains are separate and individual governance hubs. They can be deployed in an existing Habitat Rollup. Each domain can set their own parameters and "governance legos" (see graphic below) for their tailored solution. ✂️
By collecting many votes and outcomes from separate domains the rollup uses economy of scale, allowing even small protocols to benefit from the cost savings of everyone. For now, each domain can set their own parameters and settings in the Habitat Launch Wizard.
🏛️ Governance Status Quo
Governance on the Ethereum Mainnet is up and running successfully. It is secure and proposals can be executed on-chain. With the current transaction volume and DeFi protocol hype these benefits come at a very high transaction cost and slow confirmation times.
But there is more. Recently an undercollateralised flash loan in a MakerDAO governance vote resulted in $7 million MKR worth of voting power altering the voting outcome. This is due to the composability on the Ethereum mainnet which is often considered a big advantage compared to rollup solutions, but can also bring up new attack vectors.
Snapshots biggest advantage is the free liquidity of voting tokens, allowing people to vote without locking tokens into a bridge contract. On the other side, on-chain voting is not possible and enforceable outcomes can only be done with their newest upcoming update utilizing optimistic contracts. This results in an intermediate, a third party such as Aragon Court, to resolve any disputes during a time-lock period if the action taken is not aligned with the decision of the community.
🖇️ A New Era of Community Ownership
The first iteration of Habitat with proposal voting is up and running on Mainnet implemented for the Layer-2 scaling pioneers of LeapDAO. All leap token holders are now able to vote on fundings proposals for their projects. You can find the interface under gov.leapdao.org.
More BIG News: Just today, Friday the 6th, strudel.finance is raising their own on-chain governance powered by Habitat. Strudel is an innovative and trust-less Bitcoin to Ethereum Bridge allowing their community to decide on governable protocol sets. The strudel.finance governance will launch soon, here are all links to stay up to date with the progress:
Follow them on Twitter: https://twitter.com/Cosmo_Strudel
Engage in Discourse: https://gov.strudel.finance
Govern the Strudel: https://vote.strudel.finance
📢 Soon every community will be able to setup their own domains on Habitat. Basically every online or offline community can profit from Habitat’s capabilities. 📢
Stay tuned for many more announcements and upcoming development updates...something is cooking! 👩🍳
🐣 Join us hatching a new governance era for DAOs and DeFi protocols!
You can also find us on Twitter 🐦