KCN ETHFINEX LAUNCHES DAO

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KCN ETHFINEX LAUNCHES DAO

Ethfinex recently announced that it will launch funding for DAO. The published release says: “We reach an important milestone in our path to decentralised governance of Ethfinex. We have collaborated with decentralisation protocol experts DAOstack to create an experimental funding Decentralised Autonomous Organisation (DAO), efxDAO. Using the Alchemy interface and governance protocol, the efxDAO has been allocated a trial budget of $5,000 and initially tasked with making meritocratic funding decisions for Ethfinex Trustless and Nectar initiatives. The 21 founding members of efxDAO are made up of three equally sized groups that reflect the existing Ethfinex ecosystem: the largest nectar holders, active community volunteers, and existing Ethfinex personnel. The members of efxDAO can submit and vote for proposals on how the allocated Ethfinex funds should be spent, earning reputation in the process and boosting subsequent voting power.” The news release partner STEX.com.

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