On August 14, the 18th session of HTX DAO (DAO Friends, Please Stay) focused on the theme: 'Behind the Upgrade of the HTX DAO White Paper: How Institutional Experiments Evolve into Real Paths?' This session invited Liu Ye, HTX DAO Core Builder, and crypto KOLs from Helium, discussing key topics such as core adjustments of the HTX DAO white paper, challenges in institutional implementation, enhancing community participation, and responses to compliance, exploring the future of on-chain financial governance and the development direction of $HTX.
Behind the update of the white paper
The HTX DAO white paper has recently been updated, which is not just a textual update, but a milestone declaration of direction—starting from the exchange to become the core force of on-chain financial governance, creating a user-led financial freeport where each participant has both decision-making rights and rights to benefits.
It is reported that the updated white paper refines the previously abstract ideas into specific, actionable plans, clarifying the scope of governance authority and specific cases, allowing the community to better understand the project's practical path and development direction.
The new version of the HTX DAO white paper clarifies that the long-term momentum of the DAO comes from a clear governance incentive design, which views user behaviors such as voting, trading, staking, and content creation as governance contributions, and forms clear incentive feedback through points, airdrops, and yield returns; at the same time, ecological units like Huobi HTX and TRON will support the community through burning, repurchasing, and airdrops, creating a positive cycle of 'participation—benefits—re-participation,' allowing more users to engage in governance and continuously enhancing the vitality and ecological attractiveness of the DAO.
On this basis, HTX DAO's governance boundaries will extend to a broader ecological field: including granting governance rights to modules like Launchpad, Launchpool, on-chain financial management; exploring DAO control entry points for new financial sectors such as RWA, LSD, stablecoins, and cross-chain bridges; promoting on-chain cooperative projects to gain traffic and distribution resources through HTX DAO governance. Ultimately, HTX DAO will gradually evolve into a 'financial sovereign haven' governed by global holders, enjoying real value, dividends, and belonging on-chain.
During the live broadcast, Liu Ye candidly mentioned that the direct reason for updating the white paper was the external review during the application for compliance exchanges in Europe and the United States, which prompted the team to reassess the white paper. They found that the early content was somewhat vague in regard to the integration of DAO and decentralized exchanges, lacking concrete and actionable explanations. On the other hand, the team has developed a clearer understanding of the governance mechanism, implementation path, and future plans of the DAO, necessitating an update to the white paper to reflect these changes. For example, the economic model has been adjusted in the third quarter of 2024 from a 'liquidity donation' model to a 'quarterly burn' mechanism—adopting a strong deflationary model, with 50% of platform revenue regularly used for repurchasing and burning $HTX every quarter.
She emphasized that the white paper, as a standard for blockchain projects, should not only carry the team's latest thoughts, adjustments, and practical paths but also provide authoritative and comprehensive information sources, allowing users who pay attention to the project to clearly understand its development direction and strategic adjustments.
In this regard, Helium believes that HTX DAO is a grown DAO, possessing the attributes of a 'scales' tool, complemented by a modular operational model, forming its core dimension. Bluebird Club member Jingyi believes that the white paper embodies the concept of 'users as participants, participants as beneficiaries,' and effectively mobilizes the enthusiasm and initiative of community members.
Adhere to long-termism
During the live broadcast, Liu Ye discussed the development of the voting recommendation mechanism, pointing out that it is essential to first clearly think about what problem this mechanism is intended to solve and what practical benefits it can genuinely bring to users; secondly, a reasonable incentive system needs to be designed to attract and retain long-term participants.
She emphasized that the voting mechanism, like long-term projects, will inevitably experience a period of fluctuation—sometimes gaining high popularity, sometimes hitting bottlenecks, but the key is to adhere to long-termism, continuously solve problems that arise during the process, and view the entire governance process from a developmental perspective.
Liu Ye further stated that the goal is to continuously benefit users, not just to gather popularity in one or two phases, but to refine the mechanism over one or two years and create a successful governance system. In the next 6-12 months, the focus will be on three major areas: validating the effectiveness of the voting mechanism; establishing a national treasury and points system to visualize contribution rewards; and opening up developer permissions on the official website, forming a DAO co-construction involving all members through point incentives.
Seeking a balance between compliance and decentralization
In response to the media question about how HTX DAO seeks a balance between compliance and decentralization, Liu Ye stated that from the very beginning of its establishment, HTX DAO has regarded 'long-termism' as its core philosophy. In the current context of a constantly changing global regulatory environment, this philosophy is particularly important. She believes that when capital and regulatory forces both focus on the crypto industry, it signifies that the industry is moving towards broader social acceptance, and it will inevitably head towards compliance. Therefore, HTX DAO's attitude has always been to actively embrace and plan for compliant development.
She pointed out that many people have misunderstandings or even concerns about compliance, but essentially, laws and regulations are important mechanisms for safeguarding the rights and interests of the majority, maintaining fairness and stability. For HTX DAO, this is not only a challenge but also an opportunity to develop in a healthier and more sustainable manner.
However, the ideal of decentralization is not achieved overnight. Liu Ye admitted, 'The team's initial understanding of decentralization was somewhat too 'loose', thinking that the DAO was just about letting everyone speak freely and vote on decisions. But practice has shown that most people's votes only represent intentions, not necessarily expertise, and may even be influenced by emotions, which do not align with long-term development rules.'
To this end, HTX DAO has adopted a 'pilot' strategy—first verifying the governance mechanism and product solutions in a small scope, then gradually expanding the scale. This approach can both identify and correct potential problems while finding a balance between safety and efficiency. Liu Ye emphasized, 'In the short term, certain phased decisions may not be entirely decentralized, but as long as the direction is clear and we adhere to the belief in ultimately achieving decentralization, we can have a clear conscience.'
Liu Ye summarized that the DAO team possesses strong resources and experience reserves. The core builder Sun Yuchen's team's experience in global compliance, financial innovation, and blockchain application implementation provides a solid guarantee for HTX DAO to respond to changes in international regulations. In her view, compliance and decentralization are not opposites, but two parallel paths for HTX DAO to mature and enhance its global competitiveness.
About HTX DAO
As a decentralized autonomous organization (DAO) with multi-chain deployment, HTX DAO showcases an innovative governance model. Unlike traditional corporate structures, it adopts a decentralized governance structure composed of diverse groups, jointly committed to promoting the success of this organization. Its unique ecosystem espouses open values and encourages all ecosystem participants to propose suggestions that can promote the development of HTX DAO.
Contact information
Official website: www.htxdao.com
Email: [email protected]
