$MODA for Governance

The $MODA token represents a holders membership to the DAO and gives them voting power, enabling them to exercise a degree of influence over certain operations.

If you're new to governance (or even if you're not) here's a brief 101 on how governance relates to DAOs.

A DAO (Decentralised Autonomous Organisation) is a decentralised entity that is run through code rather than by a central authority (i.e. a traditional company with a bureaucratic, corporate structure). In a DAO, the governance decisions are made by token holders who have a stake in the organisation and can vote on proposals.

By holding $MODA tokens, individuals can participate in the governance of the DAO, propose and vote on changes to some of its rules, and receive rewards for their contribution.

In this way, the $MODA token serves as a mechanism for token holders to influence the direction and operation of the DAO, allowing for democratic-esque decision-making.

Different voting mechanics can result in different outcomes (both for the DAO and community).

In a DAO, voting mechanics play a crucial role in the governance of the organisation. The basic mechanics of voting in a DAO involve token holders casting their votes on proposals put forward by members of the community. MODA's governance is currently in it's infancy and all proposals are being submitted by core contributors; this will change over time. The outcome of the vote is determined by the total number of tokens held by voters and the voting rules established by the DAO.

MODA's carefully designed voting mechanics aim to actively incentivise participation in governance and ensure that decision-making is fair and representative of the interests of all token holders.

To date, MODA has used single choice voting (community members vote A or B) and we've had a 100% success rate on proposals!

In future we plan to expand into other mechanics i.e. ranked voting, quadratic voting, etc. This is because single choice voting runs the risk of becoming too plutocratic and other voting mechanics can help to mitigate this with clever mathematics.