Cross-chain governance is coming to Verse Network! We now support cross-chain voting and proposal creation for DAOs on Ethereum through our existing dApp Clique. Clique will support cross-chain governance for Ethereum based projects and DAOs initially on the Verse testnet.

A New DAO Governance Solution 

We are pleased to announce the launch of cross-chain governance on our platform starting with the Verse testnet. DAOs built on Ethereum can now implement decentralized on-chain governance for their communities through the existing dApp Clique. This comes without the need for projects to issue new tokens or bridge existing tokens to the Verse chain.

Our ultra low gas fees are a tremendous advantage for DAOs implementing on-chain governance on Verse. Gas fees on our Layer 2 chain are dramatically reduced compared to Ethereum for all governance activities, including voting and proposal creation. 

Architecture of Cross-chain Governance on Verse

An overview of the cross-chain governance structure between Verse Network and Ethereum is provided below.

On the Verse chain, the governance contract allows users to create and vote on proposals. The voting power of a user is determined by the snapshot of their token holdings at the time a proposal is created. 

The Data Bridge serves as a cross-chain synchronizer to communicate data and voting results between the DAO’s original chain (Ethereum) and Verse chain. It is governed by the validator nodes of Verse. 

The validator nodes cache historical data and snapshots from Ethereum as a certificate in order to deliver user signatures on Verse.

The certificate includes the corresponding token holdings of each user. Users can create and vote on proposals using their signature, with each unique signature being validated by the contract.

Initial Phase

Currently we are working with an initial group of projects and DAOs to migrate their governance from Ethereum to the Verse. If you wish to implement on-chain governance for your DAO with Verse please get in touch using this form. Looking to the future, the data bridge on Verse will be able to support more EVM compatible blockchains. We are also working to support more sophisticated governance solutions including Executable Proposals. 

If you have any questions about the solution, reach out to us by email (contact@stp.network) and our team will be happy to follow up!  Follow our Twitter for updates on additional governance features we will be rolling out in the coming weeks. 

About Verse Network:

Verse is a censorship resistant, front running resistant, high performance, and interconnected cloud for next gen DAO and DeFi. It enables networks, developers and organizations to decentralize decision making effectively and scale their communities and decentralized applications. 

More information about Verse Network: 

Website | Twitter | Telegram | Mirror