The DAO
Last updated
Last updated
The EGL DAO is allocated 250M EGLs, which can be spent for any purpose by the EGL holders, and is intended to be used to fund development of future upgrades, security audits, code audits, etc. A multisig wallet controls the EGL contract, including the DAO, and requires 3 of 5 signatures for a transaction to be approved (see the governance section for more information).
To highlight important voices in the ETH community that may serve as an information signal of what the community's desired gas limit ought to be, 50M EGLs are to be distributed core devs, including client teams. We call this group EGL Signals.
These EGLs can be used to vote like any other EGL, can be locked for a duration of 1-8 weeks, and can collect Voter Rewards, with the exception that no amount of EGLs can be withdrawn after 1 year from the deployment of the EGL smart contract.
