• Nearly 400 IoTeX community members voted 99.2% in favor of the Improvement Proposal 14 (IIP-14).
• The voters staked over 484m IOTX, equivalent to approximately $13m.
• Soulbound Tokens (SBTs) will be given to those who participated in this decentralized autonomous organization (DAO) governance proposal.
IoTeX Community Votes Overwhelmingly for Improvement Proposal 14
Nearly 400 IoTeX community members voted 99.2% in favor of IoTeX’s Improvement Proposal 14 (IIP-14). DAO governance voters staked over 484m IOTX, equivalent to approximately $13m, the CEO and co-founder, Raullen Chai, announced. Soulbound Tokens (SBTs) will be given to those who participated in this decentralized autonomous organization (DAO) governance proposal.
Account Abstraction Feature Improved Ease of Use & Security
Account Abstraction is a highly effective feature that improves ease of use but maintains impeccable security standards. By breaking down technical barriers like managing private keys and wallet addresses, Account Abstraction enables users to interact more intuitively and seamlessly with the IoTeX ecosystem. It can greatly enhance your IoTeX experience whether you are a builder or an early adopter as it combines the convenience of centralized custody with the benefits of self-custody.
Voters Rewarded With Soulbound Tokens
The co-founder also announced that the voters would receive Soulbound Tokens (SBTs) for participating in this DAO governance proposal. This concept was revealed by Ethereum founder Vitalik Buterin earlier this year and has been adopted by IoTeX to reward its community members for their contribution to their DAO Governance process.
97% Vote In Favor For IIP-13
Recently, nearly 123 community members voted 97% in favor for IIP-13 which was to add Ether Liquid Staking Derivatives on their platform making it more secure by increasing the number of people validating transactions on their platform with 141 million IOTX tokens staked as well.
Conclusion
IoTex continues to reward its communities with SBTs encouraging them to participate in their DAO Governance process while they implement features such as Account Abstraction which makes their platform more user friendly and secure at once by removing technical barriers like managing private keys and wallet addresses while combining centralized custody with self-custody features all at once!