Decide the future of LAND
For the past few months the Decentraland community has been debating how LAND is managed and governed, in particular what to do with LAND that has been abandoned and how to organize future LAND auctions.
In light of this we wanted to share and get your thoughts on our plans to create a decentralized autonomous organization (DAO) which, among other things would control LAND and Estate contracts.
We’ve been working with the Aragon Team for the past few months, configuring a set of Aragon contracts to create a decentralized version of Agora, turning it into a fully blockchain-based system to govern over the mechanics and policy of Decentraland.
How will the DAO be run?
- LAND and Estate contracts will be owned by an Aragon Agent contract
- The Aragon Agent contract can be ordered to make changes on the contracts by two Permission contracts: one linking to a Vote contract, and another one linking to a Multisig contract
- The Vote contract will be arranged as simply as possible, with votes weighted according to amount of MANA owned
- LAND and Estate owners will obviously have a say in these decisions, given their holdings’ equivalent weight in MANA. * The current Agora dApp will be used to determine the value of weight per LAND
- A multisig contract will be established to enable quick responses to bugs on the smart contract. We’ll talk more about this in a followup post
- Introduce the idea of Security Council – to be further explained in another blogpost
To the polls!
The following are the topics to be voted on. Polls open December 10:
How should the Decentraland DAO be implemented?
- Using Aragon
- Using another DAO system
Should landowners be allowed voting rights?
- Yes
- No
How many MANA should the equivalent of one LAND be?
- 1000
- More than 1,000 (TBD by another Agora poll or the DAO)
- Initial Auction Price
This is an important next step in our continuing work to decentralize the ownership layer of our shared virtual world. We look forward to getting your thoughts. As always, if you have any questions or comments, don’t hesitate to reach out to the team on Discord.