Param Labs, a prominent gaming ecosystem supported by renowned entities like Animoca Brands, Delphi Digital, and Mechanism Capital, has officially introduced its innovative DAO governance system. This initiative aims to establish a decentralized future for its web3 gaming platform, empowering its community of token holders to participate in critical decision-making processes.
Understanding the PARAM DAO
The PARAM DAO utilizes a proposal system similar to other decentralized guilds, allowing members to influence the allocation of ecosystem funds and prioritize development initiatives. Core principles guiding this organization encompass:
- Openness
- Diversity
- Collaboration
- Adaptability
- Innovation
- Commitment to creating a meaningful impact within the ecosystem
To join this new DAO, individuals need to hold a minimum of 1 $PARAM token, granting them the ability to vote on and discuss proposals, with the possibility of submitting their own. Each token equates to 1 vote, while proposals can be created and debated on the official Param Labs Discord server. Voting occurs on the Ethereum network via Snapshot, a fee-free voting platform. These proposals are referred to as PIPs (PARAM Improvement Proposals).
PIP Proposal Process
PIPs are evaluated through a structured 6-stage process:
- Ideation
- Discussion
- Review
- Voting
- Finalization
- Implementation
Categories of Proposals
Proposals are classified into four distinct categories:
- Feature Improvements & Additions: Suggestions for new features and modifications to existing functionalities.
- Process Adjustments: Ideas for new procedures or changes to live processes.
- Ecosystem Fund Allocation: Strategies on how to utilize the Ecosystem Fund to support promising blockchain gaming initiatives.
- Brand/Partnership Strategy: Recommendations for collaborations that can enhance the PARAM brand and the DAO’s influence.
Leadership and Governance
The DAO determines its leadership through regular community elections, allowing members to vote for board members who will manage proposals in alignment with the collective vision.
For detailed information on the proposal process and the DAO’s guidelines, you can read the official Medium post.
About Param Labs
Param Labs is a modular web3 gaming platform that has successfully secured $7 million in strategic funding as of May this year. This funding, gathered through private rounds involving prominent angel investors, is aimed at developing the infrastructure, web3 games, and developer tools to create an immersive entertainment ecosystem centered around next-gen blockchain gaming.
The PARAM ecosystem, governed by the $PARAM token, facilitates transactions covering gas fees on the Param L2 and L3 zkEVM, with Ethereum serving as the foundational settlement layer.
Current Projects in the PARAM Ecosystem
Current web3 gaming projects under this ecosystem include:
- Kiraverse: A free-to-play online third-person shooter featuring different game modes where players can earn tokens and collectible items. Developed using Unreal Engine 5, it’s currently in open beta for Windows PCs. Recent strategic partnerships aim to integrate content into the game, enhancing its features.
- Pixel to Poly: This platform enables users to convert 2D images into 3D game-ready assets suitable for various games, including popular web2 titles like Fortnite. Using AI for initial development, experienced artists elevate the quality of these assets, which are available for both Unity and Unreal Engine.
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