Project Hydro is an open-source, global, and democratic blockchain project. Strong governance has been put in place to ensure the long-term sustainability of the ecosystem, so our vision of bringing 1 Billion unbanked people into the financial system is realized! Here is an overview of the current governance structure:
- Decentralization Ambassadors (DAs) can be nominated by any member of the Project Hydro community via this form.
- Elections are held on a rolling basis, via quorum from the current DAs.
- All elections are held on-chain.
- DAs can be suspended or relieved of their duties at any time through a fair system with checks and balances.
- All DAs have options in the Project Hydro company, located in the Cayman Islands.
- Every 6 months, corporate officers are elected from the pool of DAs.
- All DAs are eligible to be voted into the Project Hydro Board of Directors by a majority of other shareholders.
- DAs receive a monthly allotment of HYDRO tokens for their work on the project, which varies depending on the relative strength of the token. Commissions are also available for work above and beyond DA duties.
- The elected Project Hydro treasurer can use HYDRO tokens for small day to day expenses, but large expenses must be voted on and approved.
- The HYDRO treasury is used in some Hydro dApps, to compensate Project Hydro DAs, and for HCDP tasks.