Melon Council to Use AragonOS to Power a Decentralized Asset Management Protocol
Melon, which is one of the protocols that is used for the blockchain asset management went ahead to announce that the Melon Council will get powered by the Aragon’s aragonOS.
What to know about Aragon?
The platform has been designed as a decentralized app that is run on the Ethereum blockchain, one that will allow anyone to manage and create the decentralized organizations easily. The aragonOS has been established as a Solidity framework that is readily available on the Ethereum Blockchain. Thus, it will be in a position to allow any individual to be in a position to create, participate and also efficiently manage the complex, decentralized organizations.
With this collaboration in place, it shows that there is an excellent potential of synergy to take place together with an adequate integration between the two projects within the Ethereum blockchain. Melon and Argon will be the champions when it comes to the principles of openness transparency and decentralization taking place within a system.
It is the very first time that Argon will be used in powering up a decentralized asset
The Melon Council DAO has been established to allow for adequate decision making to take place smoothly within the Melon Council to ensure that the system continues to remain transparent and secure for use within the community.
The member who are within the Melon Council will have the opportunity to vote when it comes to matters of the on chain, matters such as being able to invite new members into the council, being able to adequately update the melon protocol, appropriately adjusting the amgu price, updating the current protocol parameters and many more.
But this is not all as the Melon council will have the opportunity to use the Argon tools to ensure that they make their decisions on the spending of inflation in a transparent manner.
As stated by the CTO of Melonport, Jenna Zenk. “The Melon Council organization constitutes a perfect use case for Aragon. The aragonOS framework will enable the Melon Council to vote on-chain on important matters such as modifying protocol parameters, deciding on inflation spending, or expanding the Council itself. We are thrilled to collaborate with the Aragon team, and to pioneer the era of organizations powered by Aragon.”
How it is expected to all work
Each of the members within the Melon council will be issued with a token that will represent their current membership in the committee. From here they will be able to use the particular token to make a vote or a proposal on the key issues, this is including the following.
- The addition of a new member of the council
- The protocol upgrades within the system
- The parameter adjustments within the network
- And proper resource allocation
More on Melon Council
The council has been established as an open-source that can be used for the on chain asset management. It has been able to be a pioneer within the blockchain software system that will enable the different participants within the system to quickly set up, invest and manage the technology operating and regulated funds in ways that it will be able to reduce the barriers of entry.
— Melon Protocol (@melonprotocol) February 8, 2019
All this being done while still minimizing the requirement that is needed for adequate trust. The council has been made responsible for the future development that is taking place within the protocol. They have also been tasked with promotion innovation, user adoption being able to incentivize the token holders adequately and many more, all this is to ensure that the system is running smoothly.