ELONGATE values and supports community feedback and input. From the very beginning, the foundation of Elongate was built on the voice of their holders and what they could collaboratively come up with. To give more power to the holders, they are developing a Community Vote Platform.
Elongate has announced the release and launch of its beta version of the platform. This release proposes voting on token governance decisions such as automatic burns and staking pools. The first proposed decision will be whether to integrate auto-burn functionality into their smart contract.
Holders can vote by connecting their wallets to the web app on their official website. The wallet connect system is a means of verifying holders. Voting does not cost holders any tokens, but a minimum balance of 1 billion Elongate tokens is required to be eligible to vote.
What role does governance play in the Elongate Ecosystem? Once a change is proposed, a governance decision can be made collaboratively by the holders. There are many benefits to governance. Seeing as there is no intermediary, it offers clarity when it comes to the future of Elongate. It also provides value to the holders as every vote counts and generates discussions around the decisions. This is an essential step towards decentralization for Elongate, which is an integral part of their future ecosystem vision.
The platform enables holder participation in building the Ecosystem and the future of their social impact movement. Research and development for the community vote and social impact platform will be the main focus of their Innovation department for the foreseeable future. This includes blockchain, tokenomics, economics, human interaction, social impact, algorithms, and machine learning.
It is currently only available to MetaMask users, but TrustWallet users can import their wallets to MetaMask to vote. Future iterations of the platform will facilitate governance over social impact initiatives proposed by both the holders and the team.
Alex G
admin
