Flux XDAO: Get ready to rule the Kingdom!

The time to rule is here! The Flux xDAO is live, empowering the Flux community to submit and vote on proposals for the future of Flux. This is a milestone for Flux as community governance is a cornerstone of decentralization. Read on and get all the details.

It’s time to put down another key milestone for Flux as the xDAO is live on the network. As the next logical step towards decentralization the xDAO will enable the Flux community to submit proposals on the future of Flux. Flux node operators will then be able to vote whether proposals are accepted or rejected.

This on-chain governance is a definite upgrade to the Flux blockchain and ecosystem as Flux holders are now further incentivized to hold on to their Flux and run nodes on the network. If you want influence, if you want to rule, then you will need to provide resources to the network in return.

So here is your chance to govern the premier decentralized computational network. The power of almost 1700 nodes, 8000+ CPU cores, 26+ terabytes of Ram and 900+ terabytes of storage at your fingertips.

How to rule

But how to partake in this epic decentralized parliament? It is actually quite simple. The Flux implementation of the xDAO is focused on simplicity and ease of use, so everyone with voting power is able to participate.

The xDAO lives on the Flux dashboard, where you can access it to submit proposals, vote and get an overview of active and historic proposals.

Everyone will be able to submit proposals to the Flux community by paying a 200 Flux fee, but voting power is reserved for Flux node operators.

Here are the details:

• Anyone can submit a proposal, however it will cost a 200 Flux fee. The fee goes to the Flux foundation.
• Once a proposal is submitted a seven day voting period begins. Everyone will be able to see active proposals and voting stats in the xDAO interface.
• At the time of proposal submission all nodes are tallied up and voting power for that proposal is distributed based on node ownership. Nodes added after proposal submission do not count towards voting power.
• Node operators will get 10 votes per cumulus, 25 votes per Nimbus and 100 votes per Stratus.
• In order to vote you will need to login with your ZelID which is used for verification of voting power.
• You can only vote once with all your voting power, votes cannot be split between ‘yes’ or ‘no’ and once submitted, votes cannot be changed. Voting has no fees attached.
• In order for a proposal to be approved two conditions need to be met; More than 30% of total votes need to be submitted and of the votes cast there needs to be a ‘yes’ majority.

An example:

Someone from the Flux community accesses the xDAO through the Flux Dashboard. He submits a proposal for the Flux foundation to release funds for a marketing initiative and pays the 200 Flux fee.

The network tallies the nodes at the submission time and distributes voting power to node operators, the proposal is now listed as an active proposal in the xDAO overview.

Time passes, the community discusses the proposal in the official discord and votes are cast during the week. During the voting period everyone can check in and see the proposal status: Number of votes required, current number of ‘yes’ and ‘no’ votes etc.

Once the 7 days are up, the votes are tallied and the proposal is either approved or rejected.

In this case 57% of total votes were cast and there are more ‘yes’ votes than ‘no’. The community has spoken, the proposal is approved!

If there had been less than 30% of the total votes cast, then the proposal would have been rejected, even if everyone had voted ‘yes.

Simple as that! Check it out on the Flux Dashboard.

Every node operator a king, every node a castle

So polish those crowns and lean back on your thrones, it is time to rule.

If you don’t run a node yet, but want to get in on the action then read up on FluxNodes on the official Flux site and also check out Ali Malik’s awesome guide on how to set up your very own FluxNode.

The team is really excited for this launch and are eager to see all the great proposals that will undoubtedly be submitted. Be sure to participate in all the many great discussions to come as the community takes the wheel on Flux governance.

Building the xDAO was no small feat and credit has to be given to ‘the kingmakers’ our very own Valter and Trunk, who worked like devils to develop this. Be sure to thank them if you happen to meet them in the kingdom of Flux.

Stay informed with the latest news on the official Flux website.

Also drop by the Flux discord to meet the Flux team and community and discuss xDAO proposals. You can also access the Discord through the IRC bridge.