Blockchain asset project Melon will run its decentralized governance on Aragon – CryptoNinjas
Melon, the protocol for blockchain asset management, has announced that the Melon Council will be powered by Aragon’s aragonOS.
Aragon is a decentralized app on the Ethereum blockchain which allows anyone to create and manage decentralized organizations. aragonOS is a Solidity framework on the Ethereum blockchain, which allows anyone to create, manage and participate in complex decentralized organizations.
This collaboration shows the potential for synergies and integration between different projects on the Ethereum blockchain. Both Aragon and Melon are champions of the principles of openness, decentralization, and transparency.
This is the first time Aragon will be used to power a decentralized asset management protocol.
The Melon Council DAO will allow decision making within the Melon Council to remain secure and transparent to the community. The members of the Melon Council will be able to vote on-chain on matters such as inviting new members (MEB/MTC) into the Council, adjusting the amgu price, updating the melonprotocol.eth ENS subdomains, and updating protocol parameters. The Melon Council will also be able to use Aragon tools to make their decisions about inflation spending transparent.
“The Melon Council organization constitutes a perfect use case for Aragon. The aragonOS framework will enable the Melon Council to vote on-chain on important matters such as modifying protocol parameters, deciding on inflation spendings, or expanding the Council itself. We are thrilled to collaborate with the Aragon team, and to pioneer the era of organizations powered by Aragon.”
“We are really thrilled that Melon decided to use Aragon as their tool to govern the project now that they are shutting down the founding company. The Council will be able to transparently make decisions to move the project forward, instead of decisions being made behind closed doors like most crypto projects nowadays.”
How it Works
Each Melon Council member will be issued a token that represents their membership into the Melon Council (MGM for Melon Council General Membership and MTC for The Melon Technical Council). They will then be able to use that token to make proposals and vote on key issues including:
- Adding new members to the Melon Council
- Protocol upgrades
- Network parameter adjustments
- Resource allocation
Melon is an open-source protocol for on-chain asset management. It is a pioneering blockchain software system that enables participants to set up, manage and invest in technology regulated and operating funds in a way that reduces barriers to entry, whilst minimizing the requirements for trust. The Melon Council is responsible for the future development and maintenance of the protocol. It is tasked with maximizing user adoption, promoting innovation, incentivizing token holders, future developers and maintainers of the Melon protocol and safeguarding the interests of network users.