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Community governance is essential for the EMCO ecosystem as it allows the community to have a say in the decision-making process that may affect the ecosystem as well as protocol stability and scalability. This ensures that the interests and needs of the community are represented and taken into account when making important decisions that affect the reward token's value and use cases.
There are multiple procedures in the EMCO Network Community Governance Protocol (CGP) flow-to-effect model. Proposals can be put forward by community members, elected members that form a Board, or by the EMCO Network. These are reviewed prior to discussion to ensure they align with long term goals, legal requirements, and are technically feasible. After this stage the proposal will move onto the next steps into voting and potential implementation once a verdict has been decided on by the community. The components the the GCP are as below:
  • Proposal Submissions
  • Proposal Review
  • Proposal Discussion
  • Proposal Voting
  • Proposal Implementation
  • Proposal Archive
  • Proposal Metrics
  • Proposal Timelines
Community governance will help to promote transparency and trust in the network by providing greater visibility into the decision-making process, fostering a strong and engaged community around the token, driving adoption and growth.