Governance

DIGITALAX is governed and upgraded by the DIGITALAX team, Genesis MONA NFT and $MONA token-holders. The DIGITALAX Governance framework is introducing financial incentives and improving the autonomy of the platform. The DIGITALAX DAO aims to improve sustainable growth, longevity and share a vision of alignment between the marketplace platform participants, the $MONA token, ecosystem partners and the team.

The DIGITALAX long term vision for the project is large and all encompassing, and therefore steps towards greater decentralisation will be introduced at key stages of the protocols life cycle.

At the core, both Genesis MONA NFT holders and $MONA token holders will be eligible to receive a portion of the platform’s marketplace revenue from Auctions and Instant Buy sales. The revenue distribution will be taken out of the protocol fee collected by the platform for sale items. The governance contracts allow the community to propose and vote on proposals across monetary, treasury policies, and the protocol’s development. In order to receive revenue, rewards and participate in voting, Genesis MONA holders and $MONA token holders will stake their tokens into the DIGITALAX Governance contract. The revenue from the platform will be periodically re-distributed out to stakers, only after the Protocol Treasury has reached a $50, 000 reserve from the marketplace protocol fee. The Protocol Treasury will be used across development initiatives, operational expenses and platform maintenance.

This revenue redistribution amount will be different across Genesis MONA NFT and $MONA holders, being dependent on the amount of ETH contributed for the Genesis MONA NFT and also the amount of $MONA held. Further, holders must also exercise their voting rights at least once every 30 days. Non-active Genesis MONA and $MONA holders can have their governance rights and abilities diminished or fully reverted.

A total of 500 Genesis MONA NFTs will be distributed during the Genesis Period. 92% of these Genesis MONA NFTs will be allocated to the community participants, 5% will be allocated towards the Protocol Reserve and 3% will be allocated to certain team members and advisors that helped immensely in contributing to the launch and development of the platform.

The DIGITALAX platform will allocate 90% of the $MONA token total supply to staking rewards and 10% to the Protocol Reserve. The $MONA token will be distributed through staking NFTs on the DIGITALAX platform. $MONA will be distributed over the course of 1 year.