Traditional organisations are often hierarchical, centralising decision-making among a few top-level individuals, which limits broader participation. In contrast, blockchain technology supports decentralised and transparent governance on a distributed ledger, enhancing security, immutability, and trust without central oversight.
Decentralised Autonomous Organisations (DAOs) embody decentralisation by distributing decision-making across all global members online, preventing power imbalances and promoting equity. DAOs are community-driven, with each member having a stake and a voice in organisational decisions, aligning individual success with the collective success of the organisation. This incentivises members to prioritise the organisation’s best interest, aligning with Founder Rong Chen’s vision for how Elastos should be run.
Elastos’ Cyber Republic DAO
Elastos’ Cyber Republic DAO employs a democratic, blockchain-based election model, fostering decentralised governance within the Elastos ecosystem. Annually, during a one-month election period, all community members holding ELA coins from the Elastos Mainchain, secured by Bitcoin, cast their votes, proportional to their ELA holdings, to elect 12 Cyber Republic Council members. The top 12 candidates receiving the most community votes secure their positions for a term of about one year or 262,800 main chain blocks. After 4 years of running, the fifth-year election begins tomorrow, at block height 1,678,450, a huge milestone!
Joining the Cyber Republic Council offers a unique opportunity to directly shape Elastos’ future and be a part of its decentralised governance history. This role allows you to influence strategic decisions and manage the CR treasury, aligning both individual and community goals within the Elastos ecosystem. It’s an eye-opening experience, offering prestige, leadership recognition, and substantial ELA rewards. If you believe in Elastos’ vision and have the necessary resources, we encourage you to participate in this part of our ecosystem by running and campaigning.
How to Run as a Council Member
To run for Council membership, candidates must possess Elastos Digital IDs and register their candidacy on the Essentials wallet. A refundable deposit of 5,000 ELA is required to ensure commitment to governance responsibilities. If elected, this deposit serves as collateral which may be penalised if the member fails to vote on proposals.
Council members earn approximately 35% APY on their 5000 ELA and participate in decision-making, proposal evaluation, and strategic governance. Familiarity with the duties and expectations outlined in the Cyber Republic whitepaper is recommended. Council members manage the CR treasury, which contains 440,782 ELA today, with an additional top-up of 307,903 ELA incoming for the upcoming Cyber Republic Council. They influence Elastos’ development and governance. The role offers prestige, recognition as community leaders, and ELA rewards through Bitcoin-secured mainchain validator incentives.
Voting for Council Members
As the Cyber Republic community, we will use our ELA coins for voting over the 30-day elections, with each staked coin, which is not locked and can be withdrawn at any time, equaling one vote. Transparency and communication are vital for gaining community trust and support.
The election starts tomorrow at block height 1,678,450, monitor here! Your participation supports Elastos and strengthens our network. Let’s build a transparent, inclusive future. Vote wisely and thank you for your dedication to the Cyber Republic.
Do you want to run? Act now, join the Cyber Republic Council, and help drive our Elastos community forward. For the latest election news, follow the Cyber Republic Twitter and Elastos Telegram.
