Blur DAO: Empowering NFT Traders with Community-Driven Governance
Blur DAO: Empowering NFT Traders with Community-Driven Governance
Blur, a trading platform for NFTs, has taken a significant step towards further decentralization by creating a decentralized autonomous organization (DAO) called Blur DAO. According to DAO Times, the Blur DAO aims to empower the community and enable them to have a say in key decisions related to the protocol's value accrual and distribution.
The DAO is governed by the BLUR ERC-20 token, which allows community members to participate in governance. The token allocation structure consists of 51% to Blur community members, 29% to past and future core contributors, 19% to investors, and 1% to advisors.
The Blur DAO has significant powers related to the protocol's value accrual and distribution, and it also features various committees that streamline operations. The Safety Committee ensures proposals follow the governance process, the Marketplace Committee manages upgrades to the Blur marketplace, and the Incentive Committee is responsible for managing incentive programs for Blur users.
To participate in the governance process, users can delegate their BLUR tokens to an address to register their voting balances. The governance process in Blur consists of three phases - publishing proposals, a 14-day voting period, and execution of proposals subject to another successful voting period.
Dedaub has conducted a security audit report for the Blur Protocol's smart contract, which confirms the solidity of the protocol. The report identified two low-severity issues with the TokenLockup contract and recommended considering two advisory issues. The code was compiled with Solidity 0.8.17, which at the time of writing, had no known bugs.
The Blur DAO represents a new era in NFT trading platforms, with an emphasis on community-driven governance and long-term sustainability. With the creation of the Blur DAO, the platform aims to empower the community and enable them to have a say in key decisions related to the protocol's value accrual and distribution.
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