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Xahau, an upcoming smart contract sidechain for the XRP Ledger (XRPL), has revealed its innovative governance mechanism, termed the "Governance Game," which would manage token distribution, reward active members and ensure network vitality.
Governance Game ensures that each member or validator plays an important part in defining the Xahau ecosystem once it goes live. This type of governance ensures that everyone with a seat has a voice and that everyone works together to drive the Xahau ecosystem forward.
This participant-driven model of governance, as opposed to a permanent governing body, ensures a community-centric approach to decision-making while engaging different stakeholders.
Tomiwabold OlajideThe Xahau Governance Game can be compared to a decision-making body that uses a voting system, similar to a DAO (Decentralized Autonomous Organization) that relies on consensus among its members for decision-making.
Having said that, the foundation of this governance mechanism is a smart contract. This contract serves as the law, providing the rules and assisting in ensuring that interactions within the ecosystem follow established criteria.
XRPL Labs gearing up for Xahau launch
XRPL Labs took part in the joint launch of the Xahau whitepaper in August. However, it is worth noting that Xahau has not yet been released and is still in active development.
In a blog post, XRPL Labs says it is gearing up for the Xahau launch by engaging in its governance mechanism, the Genesis Hook Governance Game.
At launch, XRPL Labs will be a player in the Xahau governance system, which has a total of 20 seats, each with its own vote. Some seats, like XRPL Labs', represent an individual validator (Level 1), while others represent a group (Level 2).
Xahau's Governance Game aims to bring together experts from a variety of industries, including programming, finance, cybersecurity and others.
Alex Dovbnya
Vladislav Sopov
Dan Burgin