2023-10-24 21:08:02
How is the governance of Evergreen DAO structured, and how do we ensure it aligns with Islamic values? Hear from Islamic Coin Founder Mohammed AlKaff AlHashmi on how it's designed to serve the community.
Before diving into Evergreen DAO, let's understand a typical DAO. A DAO, or Decentralized Autonomous Organization, operates based on pre-set rules encoded in blockchain smart contracts. It's not controlled by a central entity but functions autonomously, driven by its members' consensus. Members, often token holders, have voting rights, allowing them to make collective decisions. This structure promotes transparency, inclusivity, and democratization, eliminating centralized authorities.
Here’s a word from Mohammed AlKaff AlHashmi on how Evergreen DAO is designed to serve the community.
— «The governance of the Evergreen DAO is a robust, multi-layered, and democratic process meticulously crafted to uphold transparency and adhere to Islamic ethical standards.
Authority is vested in the hands of our network participants, including validators and ISLM token holders. Importantly, these participants are not arbitrarily chosen but are democratically selected by the community itself.
Token holders actively delegate their coins to specific validators who, in turn, actively engage in the voting process. This structure ensures the community has a direct and equitable say in determining the governance of the DAO.
Furthermore, governance is under the vigilant supervision of our esteemed Shariah board, comprised of renowned and respected scholars. They rigorously scrutinize the project through our Sharia Oracle, issuing Fatwas that validate our unwavering compliance with Islamic principles. This additional layer of ethical oversight ensures that the operations of the DAO are not only transparent but also morally sound, cementing its credibility.
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