Staking & DAO

Governance vesting to a DAO
Governance is designed to move towards a true Decentralized Autonomous Organization (“DAO”), it is essential that in the early phases of the transition, READYgg ensures governance stability in the ecosystem’s nascent phases. Thus governance vests independently of the actual stakeholder contributions in the Staking Vault.
With regards to the staking system, the goal is to move over a three-year period to a decentralized organization by 2025. Governance vesting occurs in time-based tranches:
Phase
Rights
Version 0 - Q2 2024 / Token generation event
  • None. Decisions in the first phase are handled by READYgg.
Version 1 - Q3 2024
  • $RDYX holders can stake their tokens through the staking mechanism and participate in governance votes brought forward by Ready.
  • Votes in this phase primarily focus around which devs and creators should receive token incentives to join the ecosystem, from the Ecosystem Fund.
Version 2 - Q1 2025
  • More votes related to smaller issues.
  • Ready continues to control what comes up for a vote.
  • Possibility to expand voting methods to normalize between smaller token holders and larger token holders (e.g. Potentially changing the way votes are being counted from 1 token 1 vote to Quadratic voting.)
Version 3 - Q1 2026
Decentralized Organization
  • READYgg no longer controls the voting agenda.
  • $RDYX holders determine which governance framework should be used and how much should be voted on. Some decisions will not be up for debate such as token supply which is iron-clad in smart contracts.
  • Potential things that can be voted on:
    • Should the ecosystem continue to pay Ready to develop and manage it?
    • Should other utility tokens be directly integrated into the ecosystem?
    • How should the Ecosystem Fund continue to operate?
In addition to governance rights, staked $RDYX generates “Staking Rewards”. Staking rewards are funded out of the Ecosystem Fund.
Note: any rewards for staked player objects related to FuseBlocks contracts are not envisoned to include governance rights.