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After nearly a month from the first news of the Shyft DAO, a lot has happened! To ensure that everyone in the community is well informed of all DAO-related activity we’ve prepared this recap blog to take you from the start to the present. See below to catch up!
After many months of planning, the Shyft DAO was formally announced and an instantiation proposal was sent through the Forum to Snapshot for formal voting.
As data, privacy, and identity are at constant risk and subject to manipulation across traditional finance, DeFi, and the growing web3 ecosystem, we believe there has never been a more critical time for Shyft Network to exist. The topic of regulation and the growing need for compliance are also increasingly key issues for the mass adoption of blockchain and crypto, which further establishes our mission to enable institutional blockchain adoption in compliance with local and global regulation without sacrificing users’ data privacy or sovereignty. The Shyft DAO will enable Shyft Network to execute on our mission and aid us in moving closer to the goal of decentralization.
In our introductory DAO blog, you can revisit the six committee DAO structure, voting process via Snapshot and other key tools, as well as details on the Shyft Forum and our seven key signers. You can also find instructional info on how to get involved in the DAO, vote with $SHFT and create forum proposals, and engage in other forthcoming community programs on our blog on how to get involved in the DAO.
Shortly following the announcement of the DAO, the second proposal to elect seven key signers, including three from the Shyft Community, was moved to Snapshot for voting. DAO community key signers will join the four other signers from the Shyft Core and Shyft Federation to enable treasury transaction executions in connection with approved proposals that require grant funding.
After 100% voted in favor, the ShyftDAO was officially formed.
Following the call to the community to elect three key signers, campaigns were launched in Discord, where each candidate was required to share details on why they wanted to represent the ShyftDAO and contribute to Shyft Network’s mission.
March 3, 2022
During the community key signer election, the DAO elected the two signers from the Shyft Federation. The signers for the Shyft Federation are:
One week after the voting process began on Snapshot to elect the community key signers, three members of the community were officially elected!
The Shyft DAO community key signers, currently represented by their Discord handles, are:
Signers will help strategically facilitate the Shyft protocol’s advancement, infrastructure expansion, upgrades, and ecosystem development, per the Shyft DAO’s mission statement. Elected signers will participate in the signing of Shyft DAO transactions for three months.
That’s it for now! Stay tuned as we share new proposals in the coming weeks and formally kick off the DAO committees on March 22. Committees will be opened up to the community for participation once the initial meetings formally begin. Thanks for reading.