reported by DAO Times news media, Blur, a popular NFT trading platform with over 146,823 users, has created a decentralized autonomous organization (DAO) to further decentralize the platform and empower its community. The Blur DAO, which governs the Blur trading platform for NFTs, aims to put control of the protocol's value accrual and distribution in the hands of the community.
The Blur Foundation has been established to support the community-led growth of the platform, and Care Package holders and creators who have traded collections on Blur can claim their BLUR airdrop. The BLUR ERC-20 token lies at the heart of the DAO, enabling community members to participate in governance and shape the future of the Blur ecosystem.
The Blur DAO's tokenomics are designed to promote community-driven governance and long-term sustainability. The initial allocation of 3 billion BLUR tokens will be made accessible over a period of 4 to 5 years, with 51% going to Blur community members, 29% to past and future core contributors, 19% to investors, and 1% to advisors.
The governance process in Blur consists of three phases: publishing proposals on the Research forum, a 14-day voting period using gas-less Snapshot voting, and executing proposals on-chain subject to another successful voting period. The Blur DAO has significant powers related to the protocol's value accrual and distribution, and it also features various committees that streamline operations.
The security audit report by Dedaub confirms the solidity of the protocol, with only minor issues identified. The auditors identified centralization issues in the governance contracts, which Blur is expected to address in the future.
The Blur DAO represents a new era in NFT trading platforms, with an emphasis on community-driven governance and long-term sustainability.
