Goracle x Tokenomics DAO
Goracle and Tokenomics have announced their collaboration with the objective of performing a comprehensive audit and review of Goracle’s tokenomics. Strategic in nature, the collaboration will help offer assurance to investors about the tokenomics infrastructure. Moreover, the audit and review by Tokenomics DAO will look if the tokenomics have indeed been crafted meticulously, equitably, and faithfully.
The idea behind undertaking the audit process of tokenomics is to identify potential flaws or leakages in the system. Once found, or if found, they will be fixed by the team accordingly to make the ecosystem more robust. Simultaneously, the audit process will look into several flaws and vulnerabilities that are likely to happen ahead of the token’s launch.
Tokenomics DAO performing the audit process will mitigate the negative impact on investors.
Apart from the technological review, the audit process will check into the ecosystem from the aspect of regulatory compliance. The goal here is to check if the token launch aligns with the laws and regulations relevant to Anti-Money Laundering, securities laws, and so on. This will entirely depend on the jurisdiction. Meaning different regions have different requirements and laws. Therefore, the audit review will fetch out a report accordingly.
Goracle and Tokenomics collaborating bring out a perfect combination to reflect positively on the integrity and credibility of Goracle Tokenomics structure.
This, however, is not the first partnership for Goracle. The decentralized blockchain oracle network has previously partnered with Vantage Point for blockchain security audits. As the name suggests, the partnership was undertaken to look into the architecture and consensus mechanism of Goracle Tokenomics. The comprehensive security review further dealt with identifying any potential weaknesses and vulnerabilities.
Audit, no matter the nature, is crucial for blockchain ventures for two reasons. First, it helps them to identify potential risks or flaws in the network. Second, it gives assurance to investors and the community that a proper check is being done throughout the functioning to deliver reliable results. Blockchain audit was a part of this ideology, and so is the current collaboration between Goracle and Tokenomics DAO.
That being said, the development follows Goracle introducing Goracle DAO to the community on May 10, 2023. It is a decentralized autonomous organization that has been launched to enable the participation of data consumers, node runners, and community members in the evolution & governance of the protocol.
It takes decentralized and DAO nature to another level by handing over the power to the community, letting them shape the future of the Goracle protocol.
Members have the power to vote on proposals in addition to putting the proposals forward and discussing them. A lot of discussions will center around the quality and accuracy of data, along with strategies to enhance node running and reward distribution.
Goracle takes a step forward in its approach by partnering with Tokenomics DAO. Both will not work collectively to conduct a thorough audit and review of the infrastructure to ensure that investors are safe and sound in the ecosystem.
