On August 14th, the 18th issue of "HTX DAO Friends, Please Stop" focused on "Behind the HTX DAO Whitepaper Upgrade: How Can Institutional Experiments Evolve into Realistic Paths?" It invited HTX DAO Core Builder Six Master, Helium, and other crypto KOLs to discuss the future of on-chain financial governance and the development direction of $HTX, covering key topics such as HTX DAO whitepaper core adjustments, institutional implementation challenges, community participation enhancement, and compliance response.
Behind the Whitepaper Update
The HTX DAO whitepaper has recently been updated, which is not just a text update, but a milestone declaration of direction - starting from the exchange and moving towards the core force of on-chain financial governance, creating a user-driven financial free port where every participant simultaneously owns decision-making and profit rights.
It is understood that the updated whitepaper has transformed early abstract concepts into concrete, operable plans, clarifying the scope of governance rights and specific cases, allowing the community to more clearly understand the project's practical path and development direction.
The new HTX DAO whitepaper clearly states that the DAO's long-term momentum comes from a clear governance incentive design, treating user behaviors such as voting, trading, staking, and content creation as governance contributions, and forming clear incentive feedback through points, airdrops, and revenue returns. Meanwhile, HTX and TRON ecosystems will feed back to the community through methods like burning, buyback, and airdrops, constructing a positive cycle of "participation - revenue - re-participation" to encourage more users to engage in governance and continuously enhance the DAO's vitality and ecosystem attractiveness.
On this basis, HTX DAO's governance boundaries will extend to broader ecological domains: including granting governance rights to modules like Launchpad, Launchpool, and 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 collaborative projects to obtain traffic and distribution resources through HTX DAO governance. Ultimately, HTX DAO will gradually develop into a "financial sovereign harbor" governed by global stakeholders, enjoying real value, dividends, and belonging on-chain.
During the livestream, Six Master candidly stated that the direct reason for updating the whitepaper was during the application for compliant exchanges in European and American countries, where external review prompted the team to re-examine the whitepaper and discover that early content was vague in combining DAO with decentralized exchanges, lacking concrete and implementable explanations. On the other hand, the team now has a clearer vision of DAO governance mechanisms, implementation paths, and future plans, necessitating a whitepaper update to reflect these changes. For instance, the economic model will be adjusted from a "liquidity donation" mode to a "quarterly burning" mechanism in the third quarter of 2024 - adopting a strong deflationary model, using 50% of platform revenue for periodic quarterly buyback and $HTX burning.
She emphasized that the whitepaper, as a standard configuration for blockchain projects, should not only carry the team's latest thoughts, adjustments, and implementation paths but also provide authoritative, comprehensive information sources, allowing users focusing on the project to clearly understand its development direction and strategic adjustments.
Helium believes that HTX DAO is a grown DAO with "balance" tool attributes, combined with a modular operating mode. Blue Bird Society member Jing Yi considers that the whitepaper embodies the concept of "users are participants, participants are beneficiaries" and can effectively mobilize community members' enthusiasm and initiative.
Adhering to Long-Termism
During the livestream, Six Master discussed the development of the voting and coin recommendation mechanism, emphasizing the need to first clarify what problem this mechanism aims to solve and what actual benefits it can bring to users, and secondly, design a reasonable incentive system to attract and retain long-term participants.
She stressed that the voting mechanism, similar to long-term projects, will inevitably experience fluctuation periods - sometimes with high enthusiasm, sometimes hitting bottlenecks, but the key is to adhere to long-termism, continuously solve emerging problems, and view the entire governance process with a developmental perspective.
Six Master further stated that the goal of enabling continuous user benefits is not to gather momentum in one or two periods, but to spend one or two years perfecting the mechanism and creating a successful governance system. In the next 6-12 months, they will focus on three major areas: verifying the effectiveness of the voting mechanism; establishing a treasury and point system to visualize contribution rewards; and opening developer permissions on the official website, combining point incentives to form a community-wide DAO co-construction.
Seeking Balance Between Compliance and Decentralization
Responding to media questions about "How HTX DAO seeks balance between compliance and decentralization", Six Master stated that HTX DAO has always considered "long-termism" as a core concept since its inception. In the current context of constantly changing global regulatory environments, this concept is particularly important. She believes that when capital and regulatory forces simultaneously focus on the crypto industry, it signifies the industry is moving towards broader social acceptance and inevitably towards compliance. Therefore, HTX DAO's attitude has always been to actively embrace and plan for compliant development.
She pointed out that many people misunderstand or even fear compliance, but essentially, laws and regulations are important mechanisms for protecting most people's rights and maintaining fairness and stability. For HTX DAO, this is not just a challenge but an opportunity to promote healthier, more sustainable development.
However, the ideal of decentralization is not achieved overnight. Six Master candidly admitted: "The team's initial understanding of decentralization was too 'open', thinking DAO meant letting everyone speak freely and vote on decisions. But practice revealed that most people's votes only represent intentions, may not be professional, and could even be emotionally driven, not aligning with long-term development laws."
To address this, HTX DAO adopted a "pilot" strategy - first verifying governance mechanisms and product plans on a small scale, then gradually expanding. This approach can both discover and correct potential issues while finding a balance between safety and efficiency. Six Master emphasized: "In the short term, some stage-specific decisions might not be completely decentralized, but as long as the direction is clear and we maintain our belief in ultimately achieving decentralization, we can have a clear conscience."
Six Master concluded that the DAO team possesses substantial resource and experience reserves. The core builder Justin Sun's team's experience in global compliance, financial innovation, and blockchain application implementation provides solid guarantees for HTX DAO to address international regulatory changes. In her view, compliance and decentralization are not opposing sides but two parallel paths for HTX DAO to mature and enhance global competitiveness.
About HTX DAO
As a multi-chain deployed decentralized autonomous organization (DAO), HTX DAO demonstrates an innovative governance approach. Different from traditional corporate structures, it adopts a decentralized governance structure composed of diverse groups, collectively dedicated to promoting the organization's success. Its unique ecosystem advocates an open value perspective, encouraging all ecosystem participants to propose suggestions that can promote HTX DAO's development.
