Punk.Network mainnet validator and DAO committee nomination rules

Punk.Network officially started node recruitment at 10th of April. In order to facilitate the participating nodes to understand the governance content, validators and DAO committee nomination rules released by Punk.Network.

1. Punk.Network mainnet validator model.

The Punk.Network mainnet adopts the NPoS consensus mechanism to solve the problem of decentralization and try to average node permissions to promote the decentralization of the Punk.Network mainnet.

2. Introduction to the initial 11 node construction mechanism of the NPoS mechanism of the Punk.Network mainnet.

*Participating role: nominator, validator. *

Nominator: Share the mining revenue of the validator by helping the validator pledge tokens;

Validator: Obtain the right to produce blocks by campaigning for validators, and obtain revenue through mining.

3, The process of Punk.Network’s DAO governance model.

In order to build a decentralized network with wide influence and high retention, ecological construction will be the core of Punk.Network, and a fair and efficient ecological construction framework will be established with the help of DAO structure.

Token-weighted voting: Voting in the Polka ecosystem is Token-weighted, i.e., the final tally of votes will be based on the number of Tokens held rather than the number of nodes.

The structure of Ecology Committee: The committee has between 11 and 21 members, with an odd number of members, depending on the community election. The Eco-Committee has different functions, including implementation, monitoring and auditing, financial management, and operational coordination. Committee members are required to pledge a certain amount of tokens to cover the cost of disciplinary action for possible misdeeds.

Planning and Proposals: PUNK holders (holding amount larger than 10) can publish their PUNK-related proposals including but not limited to financial or technical support for ecological applications, technical upgrade of the main network, and planning of online and offline marketing activities, involving all aspects of the operation of a decentralized project.

Release and Voting: The proposals can be passed the release and proceed to the voting stage if total support tokens is over 1000, and the stage feasibility analysis can be entered if the support votes are more than 50% .

Feasibility analysis: The committee and the profession will analyze the feasibility from all angles (including financial, legal, implementation difficulty, short-medium and long-term value, etc.) and vote on the feasibility, the implementation stage will be entered if the support votes are more than 50%. The feasibility analysis report will be subject to public announcement.

Execution: The Ecological Construction Committee will be responsible for the operation, control and docking of partners and other implementation work on the ground, PUNK and Polkadot ecological supporters will be given priority.

Twitter: https://twitter.com/Punk_Network_

Punk.Network Official Announcement Channel: t.me/PunkNetworkNews

Telegram Group: http://t.me/PunkNetwork

Punk.Network website: https://punk.network/