4 months ago
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With a $25 million SAND treasury, the DAO initiative demonstrates The Sandbox’s commitment to empowering its community.
In an important move towards decentralization and community governance, The Sandbox, a prominent decentralized gaming platform, has announced the launch of its decentralized autonomous organization (DAO), aptly named Sandbox DAO. This initiative aims to enhance transparency and foster greater community involvement by allowing SAND and LAND holders to have a direct say in the platform’s future projects and developments.
Phased Implementation for Strategic Growth
The Sandbox DAO will be rolled out in three carefully planned phases. Phase 1, which begins on May 28, will enable the community to vote on Sandbox Improvement Proposals (SIPs). During this initial phase, while the community will have a say in the proposals, The Sandbox staff will still manage some operations to ensure a smooth transition.
The Sandbox team explained that this phased approach allows for a thoughtful and well-executed launch. It enables testing and iteration on the DAO’s functionality, facilitating learning from any challenges and making necessary adjustments. This deliberate and measured strategy is intended to ensure sustainable growth and long-term success.
Phase 2, termed the “exploration” phase, will see the DAO move towards self-reliance, gradually disentangling itself from the parent company. By the time phase three rolls out, The Sandbox DAO is expected to be fully operational, marking a complete shift to community-driven governance.
Leadership and Accountability
To guide this transition, The Sandbox has assembled a leadership team comprising a council and advisers. The Council will work with trusted partners to develop the DAO, while advisers will provide crucial guidance and expertise. Notable council members include Sebastien Borget, co-founder and chief operating officer of The Sandbox, Yat Siu, chairman of Animoca Brands, Shannon Snow, chief operating officer of World of Women, and Jean-Michel Pailhon, founder of Grail Capital.
The Council will review all SIPs and provide feedback, meeting bi-monthly to ensure that proposals align with the DAO’s vision and legal framework. They also hold the power to veto proposals if they are deemed redundant or misaligned.
Empowering the Community
With a $25 million SAND treasury, the DAO initiative demonstrates The Sandbox’s commitment to empowering its community. Starting from May 28, community members who own at least 5 SAND or 1 LAND can vote on the initial SIPs, which are foundational proposals designed to kickstart the DAO’s operations.
The Sandbox team emphasized the importance of community participation in shaping the platform’s future, stating that the DAO enables the community to help shape and drive the platform’s growth and ecosystem. This includes decisions on how to allocate critical funds and selecting themes for events like Game Jams, ensuring that community members have a significant influence on the platform’s evolution and business focus.
As The Sandbox embarks on this journey towards a fully decentralized governance model, it invites its community members to contribute to this new era, ensuring that the platform remains vibrant, innovative, and aligned with the interests of its users.
