WONDER DAO

Introducing “WONDER DAO,” WEMIX’s first DAO project. WONDER DAO is in charge of the first node of the 40 WONDERS, the 40 Node Council Partners of the WEMIX3.0 mainnet, and utilizes the PMR (Permanent Minting Reward), which is allocated to the 40 WONDERS, to contribute to the growth of the DAO and the WEMIX mega-ecosystem. WONDER DAO aims to become a continuously growing Community that grows as the mainnet develops through democratic and transparent operations using the NEITH Protocol.

Vision

As a Node Council Partner participating in the consensus process of WEMIX3.0, WONDER DAO takes part in mainnet operations and major decisions, and contributes to the growth of the ecosystem. Operating as a DAO, the Community actively participates in kickstarting WEMIX3.0 to express their opinions directly, molding the future of WEMIX.

Participation in the 40 WONDERS

WONDER DAO join the members of the 40 WONDERS under the same conditions as other Node Council Partners.

1. Participating as a Node Council Partner

   The 40 Node Council Partners are also called the “40 WONDERS,” and their tasks include the guaranteeing of WEMIX3.0 mainnet security and decentralization, processing of calculations through consensus algorithms, receiving transactions, and approving and validating new blocks. Prior to publicly disclosing each Node Council Partners’ identity, each Each Node Council Partner must stake 1,500,000 WEMIX in the validator node, and execute official contracts with the WEMIX Foundation. Subsequently, upon the “Add Authority Member” Proposal being posted in WEMIX3.0 governance and receiving majority approval, the staked WEMIX shall be locked-up and the newly-inducted member officially join the 40 WONDERS.

2. WEMIX3.0 Governance Voting

   In WEMIX3.0 governance, proposals on topics can be participated in and voted on. The proposal topics may include the addition, replacement, and management of Node Council Partners; changing the set value of Governance permissions and operation standards; changing of block minting and amount of distributed rewards; Gas Fee policies; and more.The Trust of WONDER DAO represents the collective opinion of the DAO and has the authority to vote on behalf of the DAO.

3. Characteristics of WONDER DAO

   As a WEMIX3.0 Node Council Partner, WONDER DAO has the same rights and responsibilities as other global partners, and its mission is to prepare for the foundation of a new Web3 life by guaranteeing the security of the WEMIX3.0 mainnet, and at the same time contributing to the development and growth of the mega-ecosystem. WONDER DAO operates by utilizing the NEITH Protocol, and its rights and role as a Node Council Partner, including the management of node operation keys and participation in mainnet governance, are delegated to the Trust.

The PMR (Permanent Minting Reward) that WONDER DAO receives, which is 0.01 WEMIX per new block, is stored in smart contracts and only used for the growth and operation of the DAO. According to conditions set in smart contracts, for the WONDER DAO, the NEITH Protocol either stores the PMR received in the Treasury as a reserve for the DAO, or distributes them to the Incinerator, which buybacks DAO Tokens. Distribution conditions are decided in the on-chain governance of WONDER DAO, and decision on token usage is made and executed solely through governance based on the smart contract.