IOTA has recently revealed the outcomes of its Shimmer governance voting for the Tangle Community Treasury, which took place from June 17 to July 2.
In a display of decentralized democracy, IOTA has announced the results of the voting process that occurred during the last two weeks of June to select new leaders for the Tangle community.
The voting process was announced in mid-June, with community members encouraged to cast their votes using their Firefly or Bloom wallets. This coincided with the IOTA Foundation’s restructuring of its leadership and the establishment of the Technology Adoption Department, which aims to promote IOTA’s technology on a global scale, as reported by Crypto News Flash.
The preliminary results were initially announced on July 2, and the Shimmer L1 nodes were given a few days to verify them before they were confirmed as final.
The recent blog post confirms that the nodes have now verified these votes. This confirmation establishes a legitimate elected Tangle Treasury DAO LLC and allows the Tangle Community Treasury to continue operating with a strong mandate and a refreshed team.
Linus Nauman emerged as the winner, assuming the role of the new Program Lead of the Tangle Community Treasury. The Tangle Community Treasury is a committee-based grant program that supports the Shimmer and IOTA networks by empowering their builders and innovators. This committee reviews and approves developers’ proposals while maintaining a transparent operation infrastructure.
In addition to Nauman, ten other individuals, including Nicole O’Brien, Richard Mediavilla, Yi-Wei Lin, and Phantom 3D, were voted in and will join the Tangle Community Grant Committee for the Shimmer network. Nicole O’Brien, the CTO at Bloom Wallet, is already well-known within the IOTA community.
Following the successful voting process, the Tangle Treasury DAO will meet to offer new contracts to the elected individuals and release the previous holders of the positions. The handover process will also involve transferring the committee’s funds, which were allocated through another voting process in March, to new multi-sig wallets controlled by the new electees.
This revamped Treasury committee is part of IOTA’s ongoing efforts to position the network for global dominance, in line with founder Dominik Schiener’s vision.
Despite a 35% dip in trading volume, IOTA has experienced a slight increase of 2.28% in the past day, with a trading price of $0.1537.
Subscribe to our daily newsletter for more IOTA news and insights. No spam, no lies, only valuable information. You can unsubscribe at any time.