Balancer and Aragon are now working on a Zero-cost DAO voting system in order to bring secure and fast off-chain governance as we are reading more in our altcoin news.
Balancer and Aragon will create a $200,000 liquidity pool to support the Snapshot development which enables DAOs to pool votes and to push them for on-chain execution as well. Some of the other models made on-chain voting quite expensive because of the high gas fees. Balancer Labs and Aragon are now working together to launch a Snapshot and an off-chain voting platform. The implementation of Aragon Agreements and Aragon Court, the new feature will enable DAOs to take their off-chain voting and to record it on the ETH blockchain.
The next phases of the Aragon Network DAO are here: Phoenix and Firebird 🔥 🦅
During Phoenix, executive power over Aragon Court will be passed to ANT holders ⚖️
— Aragon 🦅 (@AragonProject) August 19, 2020
Before the partnership, the off-chain voting relied on the multisig wallet holders to uphold the voter’s will so the process will be called optimistic execution. Once the update passes, Snapshot will enable DAOs to vote for free and to only pay once to get the decisions that are executed. Past resilience on off-chain pooling and delegated execution is a vulnerability and it is quite unnecessary and even legal liability. Multisig wallet owners will ignore the community’s wishes to be legally accountable for implementing the decisions.
If the community invests in a marketing campaign to promote the sale of ANT tokens, the SEC could hold the multisig operators accountable for selling securities. By using the latest features of Snapshot, Aragon-based DAOs can take advantage of the free off-chain governance without having to lose their decentralized element. All non-Aragon DAOs leverage the xDAI Stake system in order to take care of the governance while execution happens on ETH. The benefit is that DAO members avoid expensive fees for votes so one member will have to push the decision on-chain and get it executed.
Our shared long-term vision for it: a governance standard for tokenholder voting, and a common good for the community 🗳https://t.co/e9kdRwRw3d
— Aragon 🦅 (@AragonProject) October 6, 2020
Once the vote is complete, the proposal can be moved to on-chain and to a timelock app called Disputable Delay. During this delay, any member could create a dispute if they don’t agree with the proposal. Disputes are handled by the Aragon Court that has three nonpartisan judges that have clear evidence and collateral. Luis Cuende, the founder and executive director of Aragon Association said:
“This new approach to DAO governance will address the high costs and congestion associated with the current system. Snapshot fits perfectly into Aragon’s vision in creating the best-decentralized infrastructure for DAOs to flourish.”
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