Xian Network

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Governance Model ​

The governance model of the Xian blockchain is designed to ensure that the platform remains secure, transparent, and aligned with the interests of its community. At the heart of Xian's governance are its validators, who play a crucial role in maintaining the network's integrity and in guiding its development and strategic decisions. This section outlines the governance mechanisms in place, focusing on validator participation, the application process for new validators, and the decentralized autonomous organization (DAO) that oversees the allocation of community funds.

Validator-Based Governance ​

In the Xian ecosystem, validators are more than just nodes that validate transactions and secure the network. They are active participants in the governance process, with responsibilities that include voting on proposed changes, electing new validators, and making decisions on the use of the DAO funds. This model ensures that those who have a significant stake in the network's success and security have a voice in its governance.

Becoming a Validator ​

To ensure that validators have a vested interest in the network's success and integrity, there is an application fee of 100,000 coins to apply as a validator. This high entry barrier serves multiple purposes:

  • Security: Discourages malicious actors from attempting to become validators, as the significant investment required represents a substantial commitment to the network's well-being.
  • Investment in the Network's Future: Ensures that validators are invested in the long-term success of Xian, aligning their interests with the health and growth of the network.

Once an application is submitted, current validators vote on whether to accept the new validator. This process ensures that new validators are vetted by existing members of the governance system, maintaining the network's integrity and trustworthiness.

DAO and Community Funds ​

A key feature of Xian's governance model is the DAO, a smart contract pre-funded by the project's team designed to finance community projects, development, and initiatives that benefit the Xian ecosystem. The DAO represents a collective decision-making body where validators vote on how to allocate these funds. This system allows for:

  • Community-Driven Development: Ensures that the development and expansion of the Xian ecosystem are driven by community needs and priorities, as reflected in the proposals funded by the DAO.
  • Transparency and Accountability: The use of a smart contract for the DAO ensures that all transactions and decisions are recorded on the blockchain, providing transparency and accountability for the use of funds.

Governance in Action ​

The governance model of Xian operates on the principles of inclusivity, transparency, and security. Validators, as key stakeholders in the network, are empowered to shape the future of Xian through their participation in critical decision-making processes. This model encourages a collaborative approach to governance, where the collective wisdom of the validator community guides the strategic direction of the Xian blockchain.

The DAO further enhances this governance model by providing a mechanism for funding initiatives that are in the best interest of the Xian community. By allowing validators to vote on the allocation of these funds, Xian ensures that its development is continuously aligned with the evolving needs and priorities of its users.

Additional Governance Aspects ​

The governance model includes provisions for adjusting several critical parameters and functions to ensure the network's optimal performance and alignment with community interests. These include:

  • Reward Distribution: Changes to how rewards are distributed among contract developers, validators, and the foundation can be proposed and voted on.
  • Registration Fees: Adjustments to the fees required for new validators to join the network.
  • Transaction Fees: Modifications to the cost of stamps (transaction fees) on the network.
  • DAO Payouts: Decisions on payouts from the DAO treasury to fund specific projects or initiatives.
  • Validator Changes: The process for adding or removing validators based on the community's trust and assessment of their performance.

By empowering validators to propose and vote on these aspects, the Xian governance model remains dynamic and responsive to the needs of the network and its participants.