The concept of total control over governance in the case of a decentralized autonomous organization (DAO) like The Sandbox DAO involves the use of blockchain technology and community voting.
Here’s how it works:
Smart Contracts:
The Sandbox DAO utilizes smart contracts on a blockchain network (such as Ethereum). These contracts are autonomous programs that run automatically and self-execute based on predefined conditions.
Proposals and Voting:
The community makes proposals (such as Sandbox Improvement Proposals - SIPs) through smart contracts. These proposals can address protocol changes, updates, or other initiatives. The community votes on these proposals.
Voting Tokens:
SAND holders receive voting tokens proportionate to the amount of SAND they hold. These tokens allow participation in voting.
Decision Majority:
Decisions are made based on the majority of votes. If a proposal receives sufficient favorable votes, it is automatically implemented through a smart contract.
Transparency and Immutability:
All transactions and votes are recorded on the blockchain, ensuring transparency and immutability. No one can alter previously made decisions.
