Сitadel.one DAO. Complete Guide
To keep up with all the community needs and requests in 2022 Citadel.one has reached a new milestone and launched its DAO. Through on-chain governance, Citadel.one aims to become a community-driven project and allow users to determine the future of the platform and the XCT token.
Citadel.one DAO membership allows to:
- set a development vector for the platform and make decisions about new integrations and features
- change financial settings: commission rate, inflation rate, rewards coefficients, etc.
- take a part in community-driven node ownership and profit a share
- receive a share of admin fees from swaps, exchange & gateway, wrapped tokens
- determine grants for members, developers and third parties
How to join Citadel.one DAO?
The membership in the DAO is token-based and permissionless, so users need at least 1 staked XCT token, which is the Citadel.one governance token, to be considered as a DAO member.
So, If you have 1 staked XCT, you automatically become a DAO member. Although, keep in mind that voting power will be calculated according to the amount of staked XCT tokens, meaning that members with higher amounts of staked XCT will have greater voting power.
I want to submit a proposal. Where should I start?
Before submitting your first proposal, please try your hand and submit a test proposal on our forum. This way you can check the community reaction, find potential problems with your proposal and adjust it.
Open the forum and go to the Citadel.one DAO section
Click “New topic” and provide all necessary information including proposal title and description.
Then click on the “Submit” button.
Paragraphs we advise to include:
- Summary
- Background
- Motivation
- Specification
How to submit an on-chain proposal?
Step 1. Open the Extension store on app.citadel.one and find the XCT Governance app.
Step 2. Click on “Submit”
How to fill in the proposal information properly?
Step 1. Firstly, set a proposal title and provide clear and detailed description.
Step 2. Then set the voting deadline.
Step 3. Select a category for your proposal
- General proposal
- Inflation Rate
Allows to set a new rate of inflation (from 2 to 30%)
- Rewards Coefficients
You can set a new % for staking XCT (from 10 to 90%)
- Deposit Amount
Change the amount of XCT deposit needed to submit a proposal
- Voting Parameters
This category allows you to change “quorum” and “support” parameters for each category. Quorum is defined as a general number of all XCT needed for valid voting.
Step 4. Select a proposal type
Select Yes/No or Multiple Choice.
That’s it!
If you have further questions, join our chat on Telegram, there is an active discussion of all current updates, as well as round-the-clock support from our managers.
If you have further questions, drop us a message to support@citadel.one. You can also join our chat in telegram, there is an active discussion of all current updates, as well as round-the-clock support from our managers.
About Citadel.one
Citadel.one is a non-custodial Proof-of-Stake platform for the management and storage of crypto assets. Users can create public addresses for all supported networks with one seed phrase, connect their Ledger or Trezor device, or import an address generated by another wallet.
The analytical dashboard provides relevant information on wallets’ balances and networks’ main metrics. In Citadel.one, we standardize the semantics, making interactions with the platform as easy as possible. The same goes for network metrics. By using universal terms, we are making it easier for users to understand and compare networks.
One of the main functions of the Citadel.one platform is participation in the PoS consensus — users can stake and delegate their assets, claim rewards, and follow the latest network proposals in the voting tab.
Citadel.one offers its users instant cryptocurrency exchange services that allow fast and secure crypto assets swap. It is also possible to buy and sell crypto with a credit or debit card. Citadel.one users can track rewards, withdrawals, transfers, and deposits across all supported networks and add comments to these transactions.
Among PoS platforms, Citadel.one supports BAND network ($BAND) Secret Network ($SCRT), Cosmos ($ATOM), ICON ($ICX), IOST ($IOST), KAVA ($KAVA), BSC ($BNB), Juno ($JUNO), Comdex ($CMDX) and Tezos ($XTZ). We also support Ethereum, Bitcoin, and Tether ($USDT) for our users’ convenience. Mobile and desktop versions, new networks, including Polkadot are scheduled for the upcoming updates. Furthermore, delving into the idea of true decentralization, we envision Citadel.one a decentralized autonomous organization and a genuinely community-owned platform in the nearest future.
Learn More About Citadel.one
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