Aurora, an Ethereum scaling solution that allows projects built on Ethereum to utilise the cutting-edge technology of NEAR, is launching its own DAO.
AuroraDAO will hand over key decision making to its community as a part of its vision to create a scaling solution that is as decentralized as possible.
The governance of any smart contract is an important aspect of decentralized and trustless design, especially when it comes to upgrades. Ensuring improvements or changes to smart contracts are done with community involvement has always been a high priority for Aurora. AuroraDAO will help us achieve that.
AuroraDAO will consist of a council of seats, with seat holders being able to vote on proposals that govern the contracts the scaling solution uses.
"We are excited to become a member of AuroraDAO in order to build a truly decentralized future while actively participating in governance processes” says Sergej Kunz, co-founder of 1inch Network. “Of course, we see a huge potential in the DAO model and fully support the Aurora team!"
“We are thrilled to join AuroraDAO because value-add governance will be important to help Aurora achieve its goal to bring Ethereum compatibility and scalability for decentralized applications,” says Franklin Bi, a partner at Pantera Capital.
Currently, AuroraDAO includes NEAR and Ethereum ecosystem representatives, as well as early Aurora investors.
It is planned to expand the list of AuroraDAO members to achieve even more decentralization over time.
“Aurora from the very beginning was sharing the values of the Ethereum community with decentralization at their core. We’re happy that this vision is now implemented and we anticipate productive and collaborative work towards the Aurora goal: extension of the Ethereum economy,” says Alex Shevchenko, CEO of Aurora Labs.
The full list of AuroraDAO Council members can be found here.