Introducing Token Race

Tokenized communities ensure some means of voting out core contributors and creating, editing, and ratifying community-wide proposals. This is most commonly manifested in treasury governance – members of tokenized communities have a say in how the group’s treasury is allocated. 

In late September, Mirror introduced a separate race for projects that have their own token, and it switched to "quadratic voting," which balances out for whales and attempts to reward regular people who get votes from the broader community. But a new problem emerged: bots were flooding in and influencing the results.

People/Politics: I want to know about the history and momentum of proposals, participation, and execution. What tools were used and token/delegation structures?

Unlike traditional, web2 crowdfund platforms, Mirror’s crypto-native crowdfunding gives the tool a disruptive edge. With the application of tokens and NFTs, backers have automatic and permanent stakes in the success of a project. The result is a unique cross between starting an online community and an internet-native company, all in real time and w... See more