In a post today on their governance and research forums, the team behind decentralized finance (DeFi) DEX protocol 0x announced initial plans to decentralize their governance by creating a “community-owned treasury seed-funded by 0x Labs.”
“As we continue our mission to create a tokenized world where all value can flow freely, 0x Labs intends to experiment with seed-funding a community treasury managed by a DAO,” reads the post. “To establish the DAO, 0x Labs will identify a set of bootstrap delegates that will shepherd the initial steps of governance decentralization.”
According to Theo Gonella, platform product manager at 0x Labs and the author of the “Introducing the 0x DAO” post, longtime community members shouldn’t be surprised by the move to initiate decentralization.
“We originally shared our vision around the protocol’s progressive decentralization in 2017, when we introduced ZRX, 0x’s governance token,” he said. “We have always envisioned that ZRX holders would one day be in full control of all aspects of the project – from managing the Community Treasury to driving protocol upgrades.”
The move comes during an especially productive period for the
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