Decred Hits Governance Milestone of 77% Voter Participation
October 27, 2021
Off-Chain Proposal System Politeia Marks Three Years Since Launch
[Chicago, IL, October 27, 2021] Decred (DCR), a digital currency that emphasizes security and scalability, today announced a new governance milestone. Voter participation hit 77% for a proposal, which took place on the project’s off-chain proposal system, Politeia. The news coincides with Decred marking three years since Politeia’s launch in October 2018.
The proposal system enables stakeholders to decide how the project’s treasury, currently valued at $85 million, is spent. In total, 128 proposals have been put forward to further various aspects of Decred, including software development, design, marketing and research. In the last year, stakeholders approved proposals for the continued development of mobile wallets, Politeia and DCRDEX, Decred’s decentralized cryptocurrency exchange, in addition to 17 others.
A report published today on blockcommons.red shares a comprehensive analysis of voting patterns over the last three years. Key statistics include:
- 128 proposals were published, 66 approved, 42 rejected, 20 abandoned
- 1.56 million ticket votes were cast on proposals, 66% yes
- Proposals received a total of 3,565 comments
- In the last year, an average of 46% of eligible tickets voted on proposals - up from 31% in year two
“Hitting 77% voter participation is a significant milestone" said Jake Yocom-Piatt, Co-Founder and Project Lead at Decred.org. “It shows that our stakeholders are highly engaged with the project and are exercising their right to participate in the decision making process of how Decred will evolve. It also shows the role cryptocurrencies and blockchain can play in mirroring the traditional governance system. Not only has crypto presented an alternative to central banks, we’re now seeing alternative voting systems, treasuries and funding models.”
For more information visit decred.org.
About Decred (www.decred.org)
Decred is Money Evolved. By combining battle tested Proof-of-Work with an innovative take on Proof-of-Stake that places coin holders in charge of shaping the future, Decred is able to adapt to challenges and innovate at a rapid pace. You acquire influence in Decred by putting “skin in the game”. Decred’s security, privacy, scalability, and decentralized treasury empower stakeholders and provides them with the tools needed to enhance their financial sovereignty.