Dear NEAR community,
Since the establishment of the HoM, the CoA and the TC significant work has been done to prepare a credible governance structure based on the previous work of the GWG.
In the last weeks, HoM requested to activate the v1 of the NDC governance framework. To assess the maturity of the Congress, the Trustees have carefully scrutinized the situation, discussed with HoM members, the Near Foundation, and with every other community member that took contact with the Trustees. As could be expected within an untested governance framework, issues and challenges emerged in the management of the NDC operations.
The NDC Trust currently holds 4165757,1 NEAR and 100 USDT, for a value of approximately 10M USD. Following indications from the NEAR ecosystem, the v1 governance framework can start but with a limitation in the funding. Only 10% of the digital assets (for a value of approximately 1M USD) can be used to support activities of the NEAR community until further notice. The goal of the described “v1 interim period” is to understand if the checks and balances characterizing the designed NDC governance framework can ensure a credible decision-making process, in the interest of the NEAR community.
NEAR is a large family, with a rich diversity of personalities, opinions, and life experiences. Such a large family inherently presents a spectrum of emotions and perspectives. To make the NDC and the connected funding mechanism work well, it is fundamental to demonstrate wisdom, respect for roles, and a sense of duty.
On behalf of the trustees, I am pleased to express our collective confidence in the upcoming chapter of the NDC. We believe that this new phase could be not only a success but could also foster a sense of deep engagement among all members of our community. This sentiment extends beyond those actively participating in the Congress to every individual within our network.
Let’s be aligned and work together for the growth of the NEAR ecosystem!
The Enforcer of the NDC Trust
