The C token of Chainbase is not only a value carrier but also a core tool for community governance. Its governance model is undergoing a transformation from 'foundation-led decision-making' to 'developer-led autonomy', a process that embodies the decentralized spirit of Web3 and grants additional ecological cohesion to C.
In the early days, the governance rights of C were primarily controlled by the Chainbase Foundation, with significant decisions (such as adjustments to technical routes and cooperation project admissions) made by the foundation. In Q3 2023, with the number of developers within the ecosystem exceeding 10,000, Chainbase launched the 'decentralization of governance' plan: developers holding more than 100,000 C can initiate proposals, and all C holders can vote in proportion to their holdings. Proposals that receive over 51% support will take effect. So far, the community has passed 8 proposals, including 'reducing service fees for small and medium developers' and 'increasing data services for the Aptos ecosystem', significantly optimizing the ecological experience.
To avoid 'large holders manipulating votes', Chainbase has introduced a 'proxy voting' mechanism: ordinary holders can delegate their voting rights to recognized developers or nodes. During the delegation period, they can still use C normally (for staking, payments, etc.), which does not affect its liquidity. Data shows that the governance participation rate of C has increased from 15% in the early days to 40%, with small and medium holders contributing 30% of the voting weight through proxy voting, effectively balancing the voice of different groups.
In the future, Chainbase plans to expand the scope of governance to 'cross-chain collaboration rules', allowing developers from other public chains to participate in the standard-setting of Chainbase by holding C. If this 'open governance' model is successfully implemented, C may upgrade from 'Chainbase ecosystem token' to 'cross-chain infrastructure industry standard token', further expanding its value boundaries.