.NEARProtocol is starting a digital collective aimed at improving self-governance in the DeFi space. By iamsandali
NEAR Protocol, a blockchain network on which developers can build decentralized applications is forming a working group to set standards for self-governance.
Although the NDC will move decision-making on-chain, and NEAR tokens have been set aside to function as the governance token for the collective, the protocol’s co-founder Illia Polosukhin avoided calling it a DAO during an interview with CoinDesk. As for the NEAR constitution, Polosukhin explained that the NDC will work to create and ratify a set of shared values and basic rights for all community members. The collective plans to also set up governance frameworks and plans, a complementary legal structure for risk mitigation and publish engagement guidelines to curb bad behavior from community members that could harm the network.
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