Triple DAO​

The Triple DAO

Triple operates under the governance of a Decentralized Autonomous Organization (DAO). This DAO represents a collaborative initiative aimed at the development, management, and scaling of data on-chain in a fully decentralized manner. To align the interests of participants, the DAO leverages the governance framework, security measures, and value-capturing features embedded within the Triple token.

The Triple project embraces a completely transparent, decentralized, and direct governance structure. Any holder of Triple tokens has the opportunity to stake their tokens in the DAO pool, thereby acquiring direct voting rights within the DAO and actively participating in the project's governance. Furthermore, token stakers receive inflationary rewards and potential additional benefits determined by the DAO in the future. The tokens staked by users serve as collateral for an on-chain Service Coverage, offering Triple users quantifiable and trustless security assurances.

The DAO's decisions encompass crucial matters such as staking incentives, collateralization policies, and the allocation of treasury funds to teams supporting the DAO through grant proposals.

Principles

The DAO focuses on two principles for effective governance:

  • Least Privilege

  • Transparency

Least Privilege

To limit the amount of damage a malicious or incompetent team may cause, each team's authority must be constrained to a bare minimum, which is also known as the “principle of least privilege”. For example, a Triple management team should never be able to completely recompose a On-chain Data that is under use, but should only be able to switch individual oracles in and out with a long enough cool-down period to discourage abuse of authority. Similarly, milestones and deliverables should be utilized to grant teams only the funds needed to carry out their specific responsibilities.

Transparency

Each team is expected to produce sufficiently detailed progress reports that enable the DAO to evaluate team performance with respect to proposed goals. These public reports have the additional benefit of increased accountability as Triple users and the general public can audit Triple operations.

Last updated