REI DAO is a decentralized governance community, a manifestation of the REI Network blockchain spirit of being more decentralized, open and transparent in its governance model, and returning governance to each $REIholder.
The organization is composed of all $REI token holders, community members and ecological stakeholders.
REI Network, as the on-chain infrastructure, will give the community more management authority.
REI Network+DAO is not limited to governance, but will also be reflected in the return of the Foundation's decision-making authority to the community. For example, the foundation will only be responsible for setting the rules for Grants, and it will be up to the $REI holders to decide whether new projects applying for REI Network Grants should be approved and how much to award.
REI Network will create a positive interaction with $REIholders. In the traditional Web2 platform, the value of network effect growth is captured by the platform.
As a gateway to team collaboration and productive relationship innovation (Web 3.0), the network effect of DAO is stronger than centralized Web2, and its value is distributed by the platform to community members based on the level of contribution, thus further enhancing the impact of the network ecosystem and the infrastructure needed for ecological building.
A more robust infrastructure will attract more members and provide stronger value support for tokens on the REI network.
What is Foundation and how does it relate to REI DAO?
The mission of the Foundation is to plan the development direction of the REI network accordingly and ensure that REI DAO can survive as a fully decentralized organization. It ensures the stable operation of the chain and the stable development of the early ecology, thus slowly transitioning to a collaborative governance model and eventually realizing a decentralized governance model for the REI network.
The Foundation has hired core personnel to develop a strategy to achieve the core roadmap, and according to the Foundation's plan, decentralized governance is a key goal for the future and is currently underway. While the Foundation is part of the REI DAO community, the Foundation does not hold a privileged position in the community and the REI network itself is governed through the voting rights of $REI holders.
Can foundations vote in REI DAO governance?
The Foundation will gradually transfer control of the remaining 250 million $REI Eco-Development Fund to REI DAO, so the Foundation does not control or participate in REI DAO governance voting.