Money On Chain was created for bitcoiners, by bitcoiners. This means that we created a completely original solution for bitcoiners that need a stablecoin (DoC), with the best collateral, bitcoin, and a token (BPro) that rewards bitcoiners with what we value the most, bitcoin.
As bitcoiners, one of our biggest concerns is Decentralization. As we mentioned in MoC Tokens Explained, all projects begin centralized, even Bitcoin. The evolution of projects that came later led to another way to get there, through governance.
Decentralization in Money On Chain is designed as a path. Several milestones like the MoC TGE (Token Generation Event), Proposals and Voting process, Decentralized Oracles were taken following this path.
Now it is time to announce a new milestone: All Stablecoin Protocol Smart Contracts are governed by the Voting Machine.
What does this exactly mean? The decisions regarding the protocol such as new features and upgrades will have to go through the lens of the community of MoC Holders through a voting process.
This process is inspired by the Bitcoin Improvement Proposals (BIP), meaning that a series of steps are necessary to make a change. Similar to what happens in Bitcoin, a very good idea is not enough. As a MoC holder, it is very important that you acknowledge this process and its details. As a MoC holder, the voting power is now in your own hands.
All the Pre-voting and Voting process is described in detail in the Blog post, Governance and Proposals.
It is in the consistent path to decentralization that governance takes on the utmost importance. Every MoC holder has the power at disposal to protect and improve the protocol, so that the more MoC tokens you hold, the greater the decision power you will have.
Learn more about the MoC token.