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Chain DAO is Now Live — Staking and Governance Launched

Chain DAO is Now Live — Staking and Governance Launched

Chain is excited to announce that the Chain DAO is now live! The Chain DAO has launched the Chain Protocols native staking and governance modules powered by the Chain XCN token. The initial proposals to set rewards and make the entire protocol fully decentralized have successfully passed and the DAO is now fully in the hands of XCN holders.

Chain Governance controls the Chain DAO Treasury of 10 billion XCN worth nearly 1 billion dollars at current rates. Only those who stake their XCN into the Chain Staking smart contract will be able to deploy and vote on Chain Improvement Proposals. The Chain Governance and Staking smart contracts have been successfully audited by CertiK. The Chain DAO will implement proposals and rewards that follow the rules set by the latest Chain Constitution.

Since XCN is the governance Token, XCN holders will be rewarded for securing the governance module and DAO by staking their XCN. Chain has launched a beta decentralized application where users can stake, claim rewards and participate in governance. This DApp is deployed on gov.chain.xyz.

Users who want to build their own applications around the Chain DAO can do so via our API. Documentation can be found at docs.chain.xyz. If you have any questions or need help feel free to join our official telegram and discord links below.

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Medium: blog.chain.com

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