Decentraland (MANA), the first virtual platform owned by its users, announced that it has launched Agora, a decentralized application (DApp) that makes it possible for anyone who has contributed to a District to vote on issues related to that same District.
We're proud to release Agora, the first iteration of our decentralized voting platform!
Community members can now use Agora to vote on District governance matters.
— Decentraland (@decentraland) July 4, 2018
According to the announcement, Agora works as an off-chain voting platform that allows users to vote on issues simply by submitting a cryptographically signed message. The first use case of the new system of governance is with the project’s growing ecosystem of VR districts, which are all in the process of establishing their leadership teams, independent governance models, and development plans.
The weight of each user’s vote is based on the number of LAND contributions the user has made to the District holding the poll. Other polls not related to specific districts will weight user votes based on the amount of MANA held in the user’s wallet.
The Decentraland token (MANA) price has surged this week from around $0.085 to nearly $0.145 before settling around $0.105 this week, representing a nearly 24% gain. The project now boasts a market cap of $110 million.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.