WorldLand Governance
WorldLand's governance design principles focus on legal compliance, transparency, decentralization, and scalability. Here are the key principles:
Legal Basis: WorldLand follows regulatory procedures and adheres to the laws of sovereign countries with well-established crypto-related systems, ensuring institutional transparency. It may establish legal entities, such as DAO LLC, in jurisdictions that recognize DAO as an economic entity.
Transparency of Asset Execution: WorldLand emphasizes transparency, decentralization, and sustainability in asset execution, ensuring that decisions are made with the consent of various stakeholders.
Securing Decentralization through ETH-WL DAO: WorldLand utilizes the concept of a decentralized autonomous organization (DAO) to govern the project. Asset execution and major decisions for project development are determined through voting, following the method programmed in the DAO Smart Contract. WorldLand DAO functions as a non-profit organization involved in the project, attracting and managing global investment proceeds through a smart contract on the Ethereum platform.
Ecosystem Support: The foundation supports developers and provides resources for the continuous improvement of the WorldLand project and ecosystem.
Usability: Governance processes are designed to be clear, easily understandable, and accessible to all stakeholders. Mechanisms for active participation and voting are made simple and intuitive to encourage engagement. The governance system aims to be efficient and effective, enabling timely decision-making and implementation.
Scalability: The governance framework of WorldLand is designed to scale as the platform grows in scope, complexity, and stakeholder diversity. It can adapt to accommodate an increasing number of participants and evolving requirements.
Decentralization: WorldLand's governance ensures the participation of all stakeholders in decision-making processes. The foundation plans to gradually reduce its coin holding rate over time, aiming to decrease it to 17% or less after five years, thus avoiding concentration of power and promoting decentralization.
By adhering to these governance design principles, WorldLand aims to establish a robust, transparent, and inclusive governance structure that fosters community participation, sustainability, and the long-term success of the platform.