Open governance for Edge will help to ensure that decisions are made in the best interests of the entire community, and that the project is able to thrive and grow over the long term.

In this post, we will outline what open governance is, why it is important, and how it will work in practice. We will also discuss the costs of participating, as well as the reasons behind those costs. Finally, we will ask for your feedback and input on the proposal, and encourage you to get involved in the governance process.

Goals and objectives

The goals and objectives of open governance are as follows:

1. Ensure that decisions are made in the best interest of the entire community. Involving the community in decision making will help to ensure that the project is aligned with the goals and values of everyone involved;
2. Foster transparency and accountability. Providing clear and transparent processes for decision making will help to ensure participation, as well as provide a framework for holding the Core Team to account;
3. Build a strong and engaged community. Involving the community in project governance will help to foster a sense of ownership and responsibility for the project, helping to build a vibrant ecosystem;
4. Promote sustainability. Ensuring that the governance system is effective will enable the Core Team to be responsive to the needs of the community, helping to ensure the long-term sustainability of the project;
5. Facilitate the growth and development of the project. Involving the community in the decision making process harnesses the collective wisdom and expertise of a wide array of interests and skill sets, helping to identify new opportunities and challenges for the project.

Ultimately, our goal is to create a governance system that is inclusive, transparent and accountable, and which allows the community and the Core Team to work together to achieve the goals and objectives of the project.

Proposal process

To participate in governance, community members will need to have an XE wallet and hold a Governance stake. It is important to note that wallets can only have one Governance stake, which means that each wallet represents one vote. Governance stakes can be created through the governance interface at a cost of 500 XE, and have an unlock period of 365 days.

With a Governance stake, community members will have the ability to create, vote and comment on proposals. This will allow them to have a say in the direction of the project, and to ensure that their voices are heard in the decision making process. We encourage all members of the community to get involved.