2021 has come to an end, and Blocto is grateful to have you along the way as we reach all the spectacular milestones this year. Adhering to Blocto’s spirit in decentralization , we’d like to end this year strong by announcing our decentralized governance DAO — BloctoDAO.

Announcing our first BloctoDAO poll:

How much $BLT token grant should the Blocto ecosystem fund allocate for the IDO platform from portto, the infrastructure supplier?

We sincerely invite you all to be part of Blocto’s blueprint and work together to make Blocto extraordinary.

What is a DAO?

A DAO (Decentralized Autonomous Organization) is an organization that is ruled by a transparent computer program, controlled by the organization members, and not influenced by a central government entity. All transaction records and rules of a DAO are managed on the blockchain. DAO is created as a decision-making system that allows members of the community to collectively vote on important matters directly related to the DAO through consensus rather than relying on a centralized party, which leads us towards the essence of decentralized governance.

Why is Blocto becoming a DAO?

We aim for creating a better space with transparent, democratic and inclusive decentralized governance. Becoming a DAO is a step forward for Blocto to be BloctoDAO creates an open space for us to hear our users’ voices and enable our users with decision-making power to pursue common goals for Blocto’s future.

How to become a BloctoDAO member?

To become a member, one only needs to own and stake $BLT to participate in all voting. The staking amount resembles the weight of your voting power. Noted that the last day to stake for our first vote is Jan 5th, 2022 (UTC+8).

Read more: $BLT Staking Tutorial

Rules & calculation

• Member is able to vote with one option once.
• Member is not able to vote again or change their vote if they already voted.
• Once the poll ends, each option will be weighed in proportion to the collective voted $BLTs in said poll.

For example:

Total BLT in-stake amount of users who voted is 100,000. There are 3 options (X, Y, Z) and 4 users (A, B, C, D) voted:

• User A: 100 BLT in-stake, vote for option X
• User B: 1,000 BLT in-stake, vote for option X
• User C: 10,000 BLT in-stake, vote for option Y
• User D: 88,900 BLT in-stake, vote for option Z

Result — approval rating:

• Option X: 1,100 / 100,000 = 1.1%
• Option Y: 10,000 / 100,000 = 10%
• Option Z: 88,900 / 100,000 = 88.9%

→ Option Z will be the final decision.

BloctoDAO first poll

The goal of the BloctoDAO is to include our users to be part of Blocto’s future. The community poll result will be directly integrated into the organization’s operations.

Enter here: BloctoDAO

We are kicking off our first governance poll from Jan 5th, 5:00 PM to Jan 7th, 5:00 PM 2022 (UTC+8). Deciding on: “How much $BLT token grant should the Blocto ecosystem fund allocate for the IDO platform from portto, the infrastructure supplier?”

• Option 1–100K $BLT
• Option 2–300K $BLT
• Option 3–500K $BLT

As Blocto moves towards decentralized governance, we’d like to give back to our community by accepting and respecting our users’ opinions. We believe 2022 is the year for Blocto to shine brightly. Join the community and be part of Blocto’s remarkable future.

Disclaimer

• Technology Sophistication. Tokens are often described in exceedingly technical language; a comprehensive understanding of applied cryptography and computer science is required in order to appreciate inherent risks. You represent and warrant that you have sufficient knowledge, market sophistication, experience, and/or professional advice sufficient to undertake a prudent evaluation of the merits and risks of the purchase of Blocto tokens. You agree to bear sole responsibility for the aforementioned evaluation.
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