Announcement: Introducing the NULS 2.0 Smart-Contracted Community Governance Tool

Since its inception, NULS has positioned itself as a global, open-source, decentralized community project and has always taken community-based operations as a critical core blockchain component. Now that the NULS 2.0 mainnet is online and stable, the NULS core team and technical community has officially launched the community governance tool on the mainnet at 15:30 November 1 (GMT+8).

The short tutorial for the governance tool can be found here.

The community governance tool is a decentralized product based on the NULS smart contract, which is designed to allow each NULS holder to exercise their voting rights and participate in the decision-making process of the NULS community development and growth.

The community governance tool currently has the following three main functions:

1. Voting Rights: All NULS holders possess inherent voting rights. Community members can participate in community governance through voting rights, such as core and contributor role elections, proposals for community funds, etc. If the NULS holder is not willing to participate directly, he or she can also give their voting rights to an agent allowing the agent to vote on their behalf.

2. Board of Directors for the Community Council: The NULS Community Council is a member organization that executes the Foundation’s management regulations, and is responsible for the advancement of NULS and the NULS community, and the dispensation of the Community Fund.The Council promotes the development of the NULS on behalf of the interests of the global community. The Board of Directors for the Council are elected by community members according to their corresponding responsibilities.

3. Proposals: Any NULS holder can initiate a proposal. After the proposal has been reviewed by the Board of the Community Council, the proposal can be opened for public voting. The contents of the proposal should include the use of community funds for NULS development, and the additional or withdrawal of contributor roles, but is not limited these.

Currently, the NULS community will be able to implement on-chain governance of community development decisions, such as director elections, ambassador elections, and proposal voting, through use of the community governance tools. NULS community governance will be open, transparent, and community-based as the project moves to a new historical stage.

With the optimization of community governance tools, the core team and community begin global community operations.