An Introduction to Mattr Governance
What is Governance?
Governance refers to the processes and systems that are in place to manage and regulate the behaviour and decision-making of a group or organization. In the context of Web2 and Web3 applications, governance can be understood as the mechanisms and procedures for managing and regulating the use and development of digital platforms and applications.
Web2 applications typically have centralized governance structures, where a single entity or group has control over the development and management of the platform. This can include decisions around content moderation, data privacy, and feature development. Users of the platform typically have limited input into these decisions.
Shareholders often lack visibility into the board's decision-making process, and must trust that the board will act in their best interest. This trust is based on a sort of social contract that is expressed through legal language and enforced by law.
In contrast, Web3 corporations are initially governed by a board of directors or founders who are often responsible for developing Web 3 technologies, such as the Mattr One protocol and Embr Labs products. As these technologies gain product-market fit and attract a community of users and stakeholders, decision-making authority can gradually shift towards decentralization. Mattr Holdings is an example of a company that is currently utilizing this approach.
The process of gradually transitioning towards decentralization is commonly referred to as progressive decentralization. For the Mattr One Protocol, the initial steps towards progressive decentralization will involve the establishment of a governance token and the introduction of a Governing Committee.
The $EMBR token is a utility token that serves as the primary means of governance for the Mattr One Protocol. Ownership of $EMBR tokens is a key factor in determining membership on the Governing Committee and the ability to vote on proposals related to the protocol. By holding $EMBR tokens, users will have a direct say in the future development and governance of the Mattr One Protocol.
The Governing Committee is a newly-formed entity that will hold decision-making power over both the Mattr One Protocol and its wider ecosystem. This committee will be responsible for making decisions related to the development and operation of the protocol, as well as other governance issues such as the allocation of resources and the establishment of rules and standards.
Will Mattr One operate On-Chain or Off-Chain Governance?
Mattr One will be governed by $EMBR Token holders through a mechanism known as off-chain governance. $EMBR Token holders will be able to propose and vote on changes to the protocol through the use of Snapshot, a decentralized governance platform. The proposed changes can include adjustments to fees, the addition of new features or the removal of existing ones, and modifications to the underlying smart contract code.
Once a proposal has been submitted and has received sufficient support, it will be executed by the Embr Labs team, who will update the protocol accordingly. This process ensures that the community has a say in how Mattr One evolves over time and can help to ensure that the protocol remains aligned with the needs and desires of its users.
The Progression to On-Chain Governance
The Governing Committee and off-chain governance mechanisms established could be seen as an intermediate step towards a more fully decentralized on-chain governance system.
As the Mattr One Protocol and its ecosystem continue to mature and attract more users and stakeholders, there may be a growing demand for more direct and decentralized decision-making mechanisms. In response, the Embr Labs team will explore the introduction of on-chain governance mechanisms, such as token-based voting or delegated consensus, which would allow $EMBR token holders to directly participate in protocol governance.
To ensure that the Mattr One Protocol's proprietary technology remains protected, the transition to on-chain governance will be carefully managed and implemented over time. The exact process and timeline for this transition will depend on several factors, including community support, technical feasibility, and the team's overall vision and goals. By gradually shifting towards more decentralized governance mechanisms, Mattr One Protocol aims to increase transparency, accountability, and community participation, while also preserving the integrity and value of its proprietary technology.
The $EMBR Token
The Embr token ($EMBR) is a crucial component of the Mattr One ecosystem, designed to facilitate various transactions and provide incentives for users within the platform. Its tokenomics, or the economic structure and principles governing the token's distribution and utility, play a significant role in the overall success and sustainability of the project.
The $EMBR token distribution, totalling 300,000,000 tokens, is carefully planned to ensure a fair and balanced allocation of tokens among different stakeholders. More information about $EMBR tokenomics can be found in this article.
Chain: Binance Smart Chain (BEP-20)
Contract Address: 0x6CB8065F96d63630425fd95A408A0D6cD697C662
How does Mattr One’s governance work?
Governance of the Mattr One protocol is driven by two governing bodies: the Governing Committee and token holders.
The Governing Committee is a body comprising individuals and entities who have been elected by members of the Community. The primary responsibility of this committee is to safeguard the security and performance of Mattr One by selectively applying emergency actions as and when required. To learn more about the framework and eligibility criteria of the Governing Committee, please see here.
The global community of individuals holding $EMBR, assumes the responsibility of governing Mattr One and its corresponding Governing Committee. The community holds the authority to propose modifications to the Committee's powers through proposals, including the possibility of dissolving the Committee altogether. The Governing Committee derives its powers from the community, and it is expected to act in the best interests of the community while executing its delegated duties.
What types of choices does the governance framework of Mattr One oversee?
Mattr governance system is tasked with a multitude of decision-making responsibilities, with one crucial aspect being the enhancement of the Mattr One Protocol. The impetus for such upgrades could stem from several factors, including but not limited to:
A system upgrade that could potentially enhance various aspects, such as augmenting its decentralization or refining its functionality to optimize performance and reduce fees.
An upgrade could fix a critical vulnerability.
An upgrade could tackle a non-essential decision that impacts the wider Mattr or Embr ecosystem.
Updated on: 09/11/2023