Flux Protocol: Introducing the Flux DAO
Recently, Flux has published an article about the introduction of the Flux Dao. This is actually great news for all the community relied on the Flux Protocol. Let's dig into this announcement to understand why it is important.
Flux DAO is simply the mission control of the whole protocol. It is assumed as the guiding hand by the community. It is assumed to be giving power to the stakeholders about the protocol infrastructure. This means that the community will be making the protocol running and it's in their hand to make the protocol healthy.
Dao is simply a framework that the flux community can use to change or modify the protocol ecosystem. It can be simply said as authorizing the community to update or make changes in the ecosystem. That is amazing because this is what the decentralized ecosystem is about.
Flux DAO is maintained with the idea of constant modification and growth. Some of the most important tasks can be :
- Reporting
- Voting
- Punish malicious acts
All these basic acts are for the health of the vibrant flux ecosystem.
There is an incentive for the community who work on securing the data within the ecosystem. FLX token is to be provided as a reward.
Interested to learn and contribute to the project? Get in touch with the team and community here :