Understanding Terp Network: Using Governance to improve our Culture

"Effective governance is not just about making decisions, it's about building a community that can make decisions together." - Trent McConaghy, founder of Ocean Protocol.

In our second installment of Understanding Terp Network, we go over governance & how this on-chain process impacts communities off-chain.

In short, crypto governance is an on-chain system of managing & implementing changes in a public blockchain or on-chain software, like smart contracts & blockchain parameters themselves. Governance is the methodology that will unlock how we collaborate fairly, and accountably with each other in this next evolutionary chapter of our economies.

A. Decentralized Decision Making.

Many blockchain tokens are used as governance tokens. This empowers token holders to vote and submit proposals on the direction of the blockchain. Because this decision-making process is transparent and open to all, it ensures that the project is truly community-driven and not controlled by a select few.

On Terp Network, a resource called the Terp Community Proposal Framework is being finalized, and it provides all the necessary templates, processes, and guidelines a participating holder might possible need to participate in governance.

A. Since the community has full control over Terp Network,
governance provides an opportunity to establish guidelines & standards aligned with the ethics & values of the community itself.

For example, any Terp holder can create a governance proposal to have the blockchain itself sign & broadcast message, just like if you were to with your own wallet. The difference is every other Terp holder can vote on whether or not that transaction is broadcasted.

A. Yes!

Currently, governance discussions begin in the discord forum & the commonwealth page to get feedback from others. Right now the 3 topics of active discussion are:
1. Initial Smart Contract Uploads

• The Goal: a potent list of smart contracts that provide an array of tools to get started using Terp Network.
  Note: Terp Network is a permissioned based CosmWasm Network presently, which is why a governance proposal is needed to upload any contracts currently.

2. Airdrop Cycle 2: The HeadStash

• The Goal: To transfer 1% of the total supply of TERP & THIOL to 15 interchain protocol treasuries, via community pool spend.

3. Terp Network Interim Constitution

• The Goal: To provide current and future community members with a set of guiding principles during our early stages of growth.

Governance is the tool we need to strengthen and cultivate the cannabis culture. By empowering members and facilitating collaboration, we can ensure that Terp Network is used ethically and in alignment with the communities values and aspirations.

Decentralization is a beautiful thing!

Have ideas for how we can shape the culture with governance? Join the discord and lets have a discussion: https://discord.gg/9mFZc4XEDA