We are excited to announce that the Hemis Decentralised Autonomous Organisation (DAO) will launch in 2025, marking a major step in the evolution of the Hemis ecosystem. This milestone will empower our community to take an active role in shaping the project’s future by funding business and software development initiatives while maintaining Hemis’ commitment to decentralisation.
What is a DAO?
A DAO is a decentralised governance system that allows community members to make decisions collectively, without relying on a centralised authority. In the context of Hemis, the DAO will provide a mechanism for allocating development funds and prioritising projects through community voting. This ensures that the direction of Hemis is driven by its users, rather than by a centralised team.
To participate in the Hemis DAO, you will need to operate a Gamemaster node, which requires 1,000 HMS tokens as collateral. Gamemaster operators not only contribute to the security and functionality of the Hemis network but will also have the ability to cast votes in the DAO, influencing how the monthly development budget is allocated.
Funding the Community
The DAO will provide a platform for community members to submit proposals for funding. These proposals might include:
- Developing software to expand the Hemis ecosystem.
- Building blockchain-integrated businesses.
- Creating tools and features to enhance user experience.
By decentralising the funding process, Hemis ensures that development opportunities are not limited to the core team, fostering innovation and diversity within the community.
Learning from the Past: Addressing DAO Vulnerabilities
Hemis benefits from the experience of team members who were present during the creation of the first DAO system in 2014: the Darkcoin/Dash DAO. While groundbreaking at the time, the Dash DAO system revealed certain flaws that many subsequent projects have inherited. One key issue is the reference node single point of failure, which centralises the budget payment process.
In most DAOs today, a single node processes budget payments. If that node fails or is compromised, it can disrupt the entire funding system. Despite being a significant vulnerability, this issue is rarely addressed in documentation or by other projects. At Hemis, we are not ignoring this risk.
Protecting Decentralisation in the Hemis DAO
To ensure that Hemis remains truly decentralised and resilient, we have accounted for the reference node vulnerability in our design. Steps are being taken to safeguard the DAO’s integrity by decentralising the payment mechanism and reducing reliance on any single entity or node. By addressing this critical weakness, we are building a governance system that aligns with Hemis’ foundational principles of security, decentralisation, and transparency.
Looking Ahead
The launch of the Hemis DAO in 2025 is not just a milestone but a commitment to decentralisation and community empowerment. By giving the Hemis community the tools and resources to govern and grow the project, we are building a blockchain ecosystem designed to thrive far into the future.
We are excited for what lies ahead and look forward to working with all of you to shape the future of Hemis. Stay tuned for more updates as we approach this transformative phase in our journey.