StakerDAO What Is It ? What does it do ?
StakerDAO is a decision-making platform where GOV token holders collaborate on financial assets. GOV token holders are required to elect a governing council within themselves, which changes every year. StakerDAO platform offers unique opportunities for those with STKR tokens.Having an STKR token is also the same as having a stake in Staker Services Ltd, which is operating in Cayman. STKR tokens are briefly ‘security tokens’. Staker believes that in the future, STKR tokens can be bought and sold globally, such as company shares.
Your governance description is not accurate, “Each month, one proposal is submitted on-chain to be considered by the Staker Council. The Staker Operations team works with STKR holders in advance of Phase 1 to outline what the coming month’s proposal should contain.” This is not correct, please see: https://docs.stakerdao.com/#how-does-the-stakerdao-governance-work
Staker (STKR) Farms
An open source, trustless method of bi-directional transfer of tokens from one chain to another. We deploy StakerBridge so users will have a trust-minimized solution for cross-chain bridges between different networks.
The StakerBridge process modifies the TokenSwap open-source algorithm so that a single party is both the transmitter and receiver of their token, enabling a seamless transfer of tokens from one chain to another.The StakerBridge algorithm is specifically structured so that this single party can move a token on one network to another network in a trustless model. If either side of the transaction fails to process, the user’s tokens are unlocked on the originating network.
The methodology ultimately only allows for one of two options:
Each month, one proposal is submitted on-chain to be considered by the Staker Council. The Staker Operations team works with STKR holders in advance of Phase 1 to outline what the coming month’s proposal should contain.
During the 2nd week of the cycle, the Operations team will share information related to the proposal under consideration, and the community will use the forums (and other channels) to discuss the proposal. For a proposal to reach the Evaluation phase, it will have already had substantial discussion analysis associated with it in the periods prior to Proposal.
During the 3rd week of the cycle, the Staker Council members vote to approve the proposal. Beginning in the February governance cycle, the council will have 5 members.
During the remainder of the month, the Ops team focuses on making any changes to existing products or working on launching new products as they were approved by the council. Some implementation tasks may be trivial while others may take weeks or more to finalize implementation.
How can I participate in StakerDAO discussions and product ideation?
Before ideas turn into proposals, they are shared for discussion on the forum by the community. We welcome you to join and take part in shaping the future of decentralized finance!