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Discover more about our perspective on governance guided by the community.
NodeDAO's decentralised autonomous organisation (DAO) prioritizes a community-first approach to staking. The main objective of the DAO is to ensure seamless and profitable staking experiences for its members. Our goal is to increase the decentralization of Ethereum staking by providing innovative liquidity solutions and greater options for the Ethereum liquidity market.
The responsibilities of the DAO include:
- Governing important system parameters such as:
- 1.Fees paid by stakers
- 2.Commissions paid to node operators
- 3.Onboarding and offboarding of oracles and node operators and the applicable fees
- 4.Approval of contract changes for the introduction of new features
- Balancing the immediate interests of the community with the long-term success of the protocol through informed decision-making
- Fostering a cohesive community of stakers and validators through transparent and community-driven governance processes.
By placing the governance of the protocol in the hands of the community, NodeDAO strives to create a collaborative and mutually-beneficial staking ecosystem.
The NodeDAO has a proposal for the CircuitBreaker feature to ensure the stability of the protocol in unforeseen events. The CircuitBreaker is composed of two parts: a smart contract that prevents withdrawals, and a multisig with the authority to trigger the stop. In case of a stop, the NodeDAO will vote to determine if it is valid and should be maintained or lifted if resolved or deemed a false alarm. Note that the smart contract can only be triggered once, so the NodeDAO would need to switch to a new multisig in the future.