Op-ed: Drawing Parallels — What Makes the PIVX and ODIN Community Governance Models So Viable? Part 1 of 3 Nondescript Follow Jun 21, 2019 · 4 min read

Introduction

This article intends to present part one of a three-part series showing commonalities and differences between the community governance models of PIVX and ODIN. This article will specifically highlight the use of Masternode proposal systems by PIVX and ODIN.

While I do hold ODIN Coin, I am not a financial advisor and am in no way suggesting investment of any sort.

Defining Community Governance in Crypto:

Community Governance: “…community level management and decision-making that is undertaken by, with, or on behalf of a community, by a group of community stakeholders. (Totikidis, Armstrong & Francis, 2005)”

As you read above, community governance is a reasonably transferable nomenclature for the management of a community by a group of community stakeholders.

I’ll spend some time in this article speaking to how blockchain projects like that of PIVX and ODIN are making use of this through trustless community governance systems hard written into their core protocols. If you’re interested in reading more of my thoughts specific to ODIN’s community governance you can find that here.

How the core protocols allow for a trustless community governance model:

On a rolling monthly basis, community members of the individual projects can propose development related endeavors via PIVX’s and ODIN’s masternode proposal systems. The proposal is then explored and investigated further by each projects different community member base and ultimately voted upon by masternode holding community members. These developmental pots of $PIV and ØDIN made up for grabs creates healthy competition amongst prospective developmental efforts.

How this allows for limited (to no) reliance on external funding:

While most cryptocurrency and blockchain projects are reliant on funds generated by an I.C.O., private backing from founders, and other traditional financing methods, PIVX and ODIN make use of trustless blockchain technology to incentivize development in house via a Maternode proposal system.

In short, concerning PIVX’s Masternode system, each month PIVX offers up 43,200 $PIV (roughly $32,000.00 at time of writing) via its’ superblock generated reward. This $PIV is then divided up amongst successfully granted proposals voted upon by PIVX masternode holders. The current minimum collateral for a PIVX masternode is 10,000.00 $PIV (roughly $7,400.00 at time of writing). That’s $32,000.00 spent on a variety of proposals without considering any external funds contributed toward developmental efforts.

While in principal ODIN has a very similar structure, the numbers vary and are as such: each month ODIN offers up 108,000.00 ODIN Coin (roughly $1,500.00 at time of writing) via its’ Superblock generated reward. Similarly, this ODIN Coin is then divided up amongst the successfully granted proposals unique to the ODIN community. Again, these are funds that are automatically reserved for developmental efforts before any external funds are counted for or relied upon for furthering the ODIN Blockchain ecosphere.

Independence from these traditional financing methods allows for the continued development of projects regardless of prevailing market conditions that have otherwise have been shown cause pause in i.c.o. funded projects.

Has this worked for existing community governance models like PIVX up to this point?

This ongoing and well-established model by the PIVX community has allowed them to grow to be an international powerhouse collective with people participating in their ecosphere all over the globe. This global collective is made possible through the use of the Superblock generated reward system, which acts as an incentive to community members to contribute in more substantial ways.

ODIN, making use of their own Superblock funding mechanism aims to match this remarkable community governance based system PIVX has thus far shown. To date, ODIN has now had its’ first two masternode proposal rounds fully funded. Round one brought forth ODIN Blockchains initial fully funded proposal. The community, excited by the successful bid, brought forth three more projects in round two. Successfully funded proposals from community members now include a remote Masternode hosting interface, editorial efforts aimed at exposure, a general development overflow fund, and a proof of concept iteration of a Viking theme based game to be powered by ODIN Blockchain. It is exciting to see what’s to come from the ODIN community going forward.

Previewing Part 2 of 3:

Part two will be an in-depth review of successfully funded proposals brought forth from both ODIN and PIVX community members that resulted in tangible products that furthered both projects.

Where do I find out more?

Discord Reddit Telegram ODIN Blockchain M.A.S.H. Odin.Chat

Read more about how to get Ø(ODIN) here.

Special thanks to ICT J, fellow ODIN Community Member.