The new governance proposal "The House of Stake" is about to transform NEAR Protocol!

As we know, NEAR Protocol is the framework behind decentralized applications (dApps) and smart contracts that are changing the blockchain world. But are you ready to see how a proposal can change the game?

Discover "The House of Stake"! 🏛

Proposed by Gauntlet, this innovative initiative promises to take NEAR's governance to a new level. Its goal is to optimize staking and redefine decision-making within the NEAR network. The question is: Are we about to enter a new chapter of efficiency and engagement?

What is this proposal "The House of Stake" about? 🤔

Established in 2022, the NEAR Digital Collective (NDC) allowed the community to autonomously manage and distribute funds. While the vision was clear, some challenges emerged. Now, with "The House of Stake," these challenges will be addressed with fresh and exciting solutions:

Weighted Voting by Participation! 🗳 Say goodbye to 1-1 voting and hello to veNEAR. This token transforms staking into voting power and allows the conversion of stNEAR, liNEAR, and NEAR into veNEAR to maintain all voting rights.

New Governance Structure! 🔧 The process will be simplified with pre-selection of grant proposals and the implementation of an Approved Delegates system for smoother and more efficient governance.

Innovation in Funding! 💸 New types of funding, adjusted limits, and attractive incentives for delegates and veNEAR holders will be introduced, boosting active participation in the ecosystem.

Leveraging the 0.5% Power!

A key component is the annual inflation rate of 0.5%, which will be strategically directed to support "The House of Stake" initiatives. This steady flow of resources aims to incentivize the community and support the operational needs of the new framework. Gauntlet will provide recommendations to maximize the impact of these funds, aligning incentives with NEAR’s long-term goals.

Meet veNEAR!

To support this significant change, veNEAR will be the new governance token that will transform voting in NEAR. Users will be able to lock NEAR, stNEAR, and liNEAR, gaining more voting power as they stay committed. A longer commitment increases influence in decision-making!

The time for transformation has arrived!

🌐 Get ready for an exciting change with "The House of Stake" and veNEAR. The new governance model in NEAR is underway!

To read all the details, click here👉 Gauntlet Proposal

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