DAO
DAO (Decentralized Autonomous Organization)
The ultimate purpose and utility of the $KITA token lie in governance participation. Kita plans to introduce a governance voting system on the Kita platform, allowing staked $KITA token holders (stakers) to vote in favor of or against various proposed changes to the Kita ecosystem. Each staked $KITA token carries voting power, and the more $KITA tokens a staker has staked, the greater influence they can exert on the voting outcomes.
Initial Phase
The first step towards establishing a fully decentralized mechanism is the release of the initial version of the governance (DAO) dashboard. Through this dashboard, users can participate in voting for policy decisions related to the Kita ecosystem. The staking feature is activated through a separate UI to provide users with VP. In the initial phase, only voting on topics related to cost and fee reduction, treasury functions, and other minor categories will be allowed.
Upgrade Phase
In the second stage, the DAO's UI/UX will be upgraded with enhanced functionality focused on staking. Detailed on-chain voting for more specific policy decisions will be conducted during this phase. The required amount of staking tokens for voting may be adjusted at this time.
Final Stage
$KITA token holders can propose changes to the governance framework and allocate new items for voting. Proposals that are decided through DAO using VP include the following:
Governance Voting Agenda
Members who have accumulated a designated quantity of VP (Voting Power) possess the capability to forward proposals to the Decentralized Autonomous Organization (DAO). The categories for the submission of proposals are delineated as follows::
Treasury Utilization Proposals
Token Economy Proposals
Other Project-Related Proposals
Other Fee-Related Proposals
VP (Voting Power)
VP represents the voting power that can be exercised in the DAO, and participants can vote in proportion to the amount of VP they hold on the DAO's submitted proposals. Participants' VP is determined by the KITA tokens they own at the block time when the vote is submitted. If a submitted proposal receives a majority of approvals, the contents of that proposal will be applied to the Kita ecosystem. All transactions related to governance proposal submissions and voting are recorded on the blockchain.
Treasury
In the Kita token ecosystem, a portion of token payment fees, NFT transactions, and production fees accumulate in the Treasury. The Kita platform is planned to gradually decentralize, and once sufficient decentralization is achieved, KITA token stakers will manage the Treasury. The tokens allocated and accumulated in the Treasury include:
Community payment fees
NFT creation and transaction fees
NFT consumption and burning fees
Players can experience new content released on Kita at any time. As new content continues to emerge and popular content accumulates, the quantity of tokens accumulated in the Treasury steadily increases. In the future, additional fees allocated to the Treasury may be added based on the services provided on the Kita platform.
Once the DAO is activated, KITA token holders can propose how the tokens accumulated in the Treasury should be used. Proposed proposals go through a vote by KITA token stakers, and if the proposal is approved, the tokens will be used accordingly. Details regarding proposal submissions, voting procedures, and the allocation of funds will be announced in detail after the DAO release.
Here are some examples of how Treasury funds can be used.
Providing Liquidity
Token holders can vote to use some of the Treasury's tokens to provide liquidity on decentralized exchanges like Uniswap or PancakeSwap by forming pairs with different tokens.
Ecosystem Expansion
Token holders can vote to use some of the Treasury tokens to pay for specific services aimed at ecosystem value enhancement (e.g., exchange listings, marketing, partnerships, and promotional services).
Funding for Development
Token holders can vote to allocate some KITA tokens for the development of third-party tools or services that enhance the value of the Kita ecosystem (e.g., markets, automation tools, bridges to other blockchain platforms).
Content Creation
Token holders can vote to allocate some funds from the Treasury to support the creation of new content for the overall enhancement of the Kita ecosystem.
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