Hi Optimism Collective:
Iām Sara HernĆ”ndez. I am currently enrolled in the Women in Web3 Bootcamp, an incredible initiative created by the Women Biz community. During the class led by @criptomommy I was introduced to the Optimism Collective and its governance structure, which sparked my interest and inspired me to share my learning.
Optimism: A Blockchain Governance Tool with Social Impact
Optimism stands out as an online governance tool within the blockchain technology landscape. It emerges as a potential solution to the persistent and growing challenges that humanity faces, such as unequal and unsatisfactory access to basic societal needs like food, water, and housing. Additionally, Optimism addresses the crucial issue of upholding and respecting human rights.
As a decentralized autonomous organization (DAO), Optimism operates through a Collective and a Network, utilizing a governance plan to make decisions regarding resource allocation. To implement a project within a DAO, it undergoes three distinct phases:
- Proposal: The project idea is formally introduced and outlined for consideration.
- Voting: Community members cast their votes to determine whether to support or reject the proposed project.
- Implementation: Upon approval, the approved project is put into action and executed.
The voting process in Optimism is safeguarded by various mechanisms, including automation, transparency, and resistance to censorship. These measures ensure the integrity and fairness of the voting system, preventing manipulation and ensuring that the voice of the community is heard.
At the heart of Optimismās new economy lies a cycle that generates revenue, fosters network growth, and drives progress towards the organizationās mission. Revenue is primarily generated through transaction fees, with a portion allocated to the public goods infrastructure.
Optimism adopts an IMPACT = BENEFIT approach to project selection. This framework involves evaluating a projectās potential impact and assigning retroactive funding based on its historical performance. Additionally, existing projects are regularly reviewed and assessed for their continued relevance and effectiveness.
The Citizen House plays a crucial role in allocating resources to community projects, aligning with the Collectiveās vision. Meanwhile, the Token House oversees network improvements, incentives, and treasuries, prioritizing the preservation of decentralization.
These two chambers, the Citizen House and the Token House, maintain the networkās equilibrium through their respective functions, voting mechanisms, and veto power. This collaborative governance structure ensures that both the communityās interests and the networkās overall health are taken into account.
In summary, the Optimism ecosystem serves as an inspiring example of how decentralized collaboration and community engagement can drive innovation and progress in the blockchain space. With its scalability and efficiency features, Optimism is playing a vital role in transforming and expanding the Ethereum ecosystem, paving the way towards a more decentralized and accessible future for all.
I am committed to a continuous learning journey within the Optimism ecosystem and Iām eager to explore various contribution opportunities, including ambassador and translator roles. I am excited to be a part of this vibrant community and contribute my skills and passion to its growth and success.
Thank you for reading!
I share my social networks:
https://www.linkedin.com/in/hernandez2sara/