DAO

Hydranet is a community driven project and operates as a Decentralized Autonomous Organization (DAO). It incorporates a decentralized governance model and token-based voting using $HDN, while the technical aspects and daily operations are executed by a core development team and DAO representatives (Multi-sig).  

Hydranet token holders have the power to propose and vote on critical decisions, ranging from technical upgrades and treasury management to partnerships and strategic shifts. The number of $HDN tokens a user holds determines their voting power, and to ensure fair and active participation, voting is conducted on-chain, using smart contracts to automate and secure the process.

DAO Governance procedures

The Hydranet DAO follows structured governance procedures to ensure transparent and effective decision-making. Proposals are submitted by HDN token holders and undergo a multi-stage process, including a committee review, a seven-day community discussion, a "heat check" for gauging sentiment, and a finalization stage before a five-day on-chain vote via Snapshot. Significant decisions, such as changes to tokenomics or governance structures, require a 67% supermajority to pass. The Proposal Committee, comprising five members with diverse expertise, oversees the proposal process to align with the DAO's objectives. Proposals can be resubmitted after three months if not approved, with restrictions to maintain quality. If the committee is unavailable, the Multi-Sig temporarily assumes its role.

For the full procedures, please visit Hydranet Governance Procedures.  Hydranet uses Snapshot as its voting platform for governance proposals. Active and closed proposals can be found on Hydranet’s page at Snapshot.

Treasury Management 

The Hydranet DAO oversees a treasury dedicated to funding the development and growth of the Hydranet project. Management of these funds is entrusted to the Multi-sig team, which in turn are responsible for acting in the best interest of the DAO, executing routine financial transactions, and ensuring secure management of the treasury.

For significant expenditure decisions, the DAO operates on a decentralized model where all members can propose and vote on spending initiatives. This collective decision-making process ensures that resource allocation reflects the community's priorities and interests, maintaining alignment with the DAO's goals and fostering a transparent and democratic governance system.

The Multi-sig team controls the following wallets (including CEX market maker wallets):

• Treasury (Arbitrum) - 0xee17c27b97539b292c0dc987707121e51d9ea41d
• Treasury (Ethereum) - 0x77c24790bba8f078b56390b1ac9152018343e152
• POL - 0xb9ebe487fc454264cbcddfd19374d4d2353c779d
• Vault - 0xc5888c4c261a1c5e8745eb1977eb54fcb21d2a28

Multi-sig

The multi-signature (Multi-sig) team, composed of elected members from the Hydranet community, is responsible for controlling the Hydranet DAO’s assets. This team is elected annually and currently includes the following members.