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Waves Labs Launches Community Open Source Governance Platform

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According to the report, Waves Labs, an organization aiming at promoting the ecological development of Layer1 public chain Waves, said that the community open …

Waves Labs Launches Community Open Source Governance Platform

According to the report, Waves Labs, an organization aiming at promoting the ecological development of Layer1 public chain Waves, said that the community open source governance platform Power Protocol has been launched. Any new or existing DAO community can propose and launch its own sub-DAO (Special Purpose DAO, SP-DAO), and use its governance mechanism. Power DAO (Mother DAO) acts as a decentralized incubator Angel investors and arbitrators of all sub-DAOs based on Power Protocol. Power Protocol allows POWER token holders to organize, propose and launch SP-DAO or migrate existing DAO for the project.

Waves Labs has launched the community open source governance platform Power Protocol

Interpretation of the news:


Waves Labs has announced the launch of a community open source governance platform, Power Protocol, aimed at promoting the ecological development of Layer1 public chain Waves. The platform allows any new or existing DAO community to propose and launch its own sub-DAO (Special Purpose DAO, SP-DAO), and benefit from the governance mechanism. The Mother DAO, Power DAO, acts as a decentralized incubator, Angel investors, and arbitrators of all sub-DAOs based on Power Protocol.

The launch of Power Protocol can be seen as a significant step in promoting the ecological development of the Waves public chain. The platform improves the governance mechanisms of the network, providing new and existing communities with the tools to create and organize DAOs that fit their specific needs. This can help to build a more secure and dynamic ecosystem for the Waves public chain.

The decentralized incubator provided by Power DAO could also play a vital role in nurturing new projects on the network. Angel investors and arbitrators have always been the backbone of successful projects, and the model adopted by Power Protocol could offer an alternative means of investment and dispute resolution for new initiatives.

Another significant feature of Power Protocol is its token holder participation. POWER token holders can organize, propose, and launch SP-DAO or migrate existing DAO for the project. This approach can create a more decentralised and participatory governance structure, where the community has greater control over the decisions made on the network.

In conclusion, the launch of Power Protocol is a welcome development for the Waves network. It provides a fresh approach to governance, which can foster greater participation and dynamism. Its focus on nurturing new projects and improving the investment and dispute resolution mechanisms of the network ensures that it has the potential to drive further innovation and development on the platform.

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