ICON blockchain releases framework for DAO governance system

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ICON, the South Korean originated blockchain network, has now released its Contribution Proposal Paper, a framework designed to turn the ICON community into one of the first fully functioning decentralized autonomous organizations (DAOs).

Upon implementation of this system, ICON stakeholders will be able to directly control the distribution of funds generated by the ICON Network via voting on Ecosystem Expansion Projects (EEPs) and DApps to add to the DApp Booster Program (DBP)

Applying as an EEP or applying to the DBP will collectively be referred to as “Contribution Proposals.”

All users will be able to take part in approving Pending Contribution Proposals by voting with their staked ICX, and all ICONists will have the right to submit a Contribution Proposal to seek community support for their endeavors.

For more details on the Contribution Proposal System, please refer to the Contribution Proposal Paper.

“We look forward to seeing the further decentralization of the ICON Network through the implementation of this system.”

– The ICON Team

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