The decentralized autonomous organization (DAO) that manages the Everscale ecosystem has voted for a reform designed to improve the quality of project management and mitigate the effects of the “crypto winter” for it. The proposed initiative consists of several aspects.

Payments to key participants and partners

According to the memo accompanying the project, the total responsibility for the decisions made by the DAO is approximately 50 million EVER.

The release of this amount into free circulation during the implementation of the resolutions will put additional pressure on the price of the Everscale local coin. However, the authors of the initiative believe that freezing funds until the end of the crisis in the cryptocurrency market is wrong.

To mitigate the impact, they suggested the creation of a LEVER token backed by EVER at a ratio of 1:1. At the same time, the asset will have a two-year lock period, during which tokens will be locked into staking. At the end of the lockdown period, funds can be received along with accumulated profitability for two years.

LEVER is scheduled to be distributed among DAO Everscale members. Tokens will also be received by members of the project founders council and their partners.

Introducing KPIs for DeFi Alliance and EverX

According to eligibility terms and decisions made by Everscale’s board of founders prior to the launch of the DAO, key project participants DeFi Alliance and EverX must each receive 170 million EVER. This is a significant part of the current turnover (1.24 billion coins).

DeFi Alliance and EverX decided to create a joint KPI to avoid price volatility while issuing such a large amount at once: EVER breaking into the top 100 cryptocurrencies in the short term and the TOP 10 in the long term. At the time of this writing, the asset is ranked #245 on CoinMarketCap and #238 on Coiningecko.

Coins earned for DeFi Alliance and Everscale will be unlocked gradually once the goal is reached.

Localizing the protocol development process

A few months ago, EverX, the main developer of the Everscale architecture, committed to open-source its solutions and involve third-party developers in the development of the protocol core.

The first step towards the new model was taken in June 2022 when the Everscale Technical Architecture Committee was formed, which included key experts from the community. The group has already held three meetings.

The draft reform says that in the future Everscale’s protocol development priorities will be decentralized. In the absence of internal consensus, the proposals will be put to a vote by the DAO.

From July 2022 the development of the kernel will be funded by the Everscale Foundation, the code for all solutions received with these funds will be open source.

Grants and partnerships

The reform’s authors noted that many of the grants and partnerships awarded did not bring value to Everscale. While this mechanism will continue to be the main way to develop the ecosystem, the approach to its implementation will change.

As stated in the draft reform, from now on, partners will receive awards from Everscale only after they have proven their contribution to the development of the project. The decision to award another reward to a partner can only be taken by the DAO. Grants from Everscale’s treasury will only be awarded in fiat currency so as not to jeopardize EVER price stability.

Each of the instructions outlined in the draft reform will be detailed and put to a separate vote. Its creators emphasized that the purpose of this initiative is to outline a series of measures that should be taken.

Previously, Everscale DAO voted to stop payments to 30 partners and founders due to lack of activity. A decentralized organization that all EVER owners can join was launched in March 2022.

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