The CRD Network is a Decentralized Autonomous Organization (DAO) operating under the regulatory guidance of WACEO, a non-profit organization.
In other words, it’s an independent organization that uses third-party legal counsel to be legally compliant. Given that the DeFi space is evolving, it is necessary to have a clear picture of what is required to not have legal issues in the area of operations.
Most importantly though, we’re a community-first crypto project. We want to remain accountable and in touch with the will of the wider community. As such, every major decision gets put to a vote on our Snapshot Page.
Any verified user of the CRD Network with over 1k votes can make their voice heard. However, votes are counted proportionately to your CRD holdings.
This is done as a means to balance out representation by most community members, while also taking into account the interests of those who have invested the most in the network’s operations.
It bears mentioning that the “dev wallets” containing treasury funds, or CRD Network-owned smart contracts, are not considered during voting procedures, to ensure a fair and transparent system where the community gets to decide.
Votes are cast on our Snapshot Page, and we will announce upcoming votes on social media with ample time to exit liquidity pool positions to be able to cast your votes.
The CRD Network is a DAO, so every member is partially in charge of the system. That said, for the day-to-day operations of the organization, the managerial functions are done by the Core Leaders.
The Core Leaders, which are jointly known as the “Core Team”, are the heads of given sections of the CRD’s operations.
At present, there is the Developer Core, Operations Core, Technical Core and the Business Development Core. However, this is subject to increase depending on the remit provided by the passed Proposals.
If the existing community votes for a Proposal requiring the participation of a community member, they are to be incorporated as a Core Leader, and their associates are to be considered as another Core Team for as long as their Proposal mandate lasts; or until the decision is nullified through the ratification of successive Proposals stating as such.
The Core Team members are the primary organizations or people who can issue Proposals, along with those with whom they have vested the authority to do so.
Nevertheless, if a member of the community wishes to issue a Proposal to be put under consideration of the CRD Network Stakeholders, they are to contact the Core team members and they will submit it for them.
The current goal of the CRD Network is to achieve an appreciation of the CRD Token by increasing use cases, which in turn will drive wider adoption of the CRD Network.
Consequently, in this expansion phase, we are particularly interested in doing business with influencers with communities that could be incorporated into the CRD Network ecosystem.
In the longer term, we wish to reach a pseudo-parity of 1 EUR = 1 CRD, at which point we will develop monetary policies to ensure that the ratio is broadly maintained. This will have the side-effect of ensuring stable overhead costs both for app developers and users, given that CRD fees would be stable.
CRD Network will have several API endpoints to populate data and to fetch data from. Besides that, all actions are recorded and traceable in the system.However, as the CRD Network aims to also develop use cases by acting as a startup incubator, we will maintain this price value via active management and not through an algorithmic peg.
The community is thus tasked to ensure that decisions are reached which incentivise and keep this utility of the network.