How it started
We are a group of firm believers in the decentralized future. While buidlers are busy building and creators are busy innovating, we noticed that governance is an area that’s been rarely innovated or challenged. If we take a glimpse of governance discussions, everything seems active and hopeful. Most projects are transitioning into decentralized governance; new governance proposals come out every now and then; and thought leaders call for community attention on important protocol changes.
However, most of the people we’ve talked to have never participated in those governance votes. The reasons always include too much information to track, too many rules to follow, too many places to go to, and too many new projects coming out all the time… it’s more than a full time job to serve as a responsible governance token holder!
When we took a closer look, things got more interesting. Governance tokens are not really held by a well decentralized community a lot of the times. Some projects ask for high token balances in order to participate in governance and governance influence is more subject to popularity contests than anything deeper than that.
We believe there is so much more to anticipate from decentralized governance.
That’s why we came up with Ojo
Ojo was born from the core belief that governance voting power has economic value, and such power should be democratized among all who wish to contribute to a decentralized platform.
We want to build a fair and low barrier marketplace to trade and price governance tokens, put them in the hands of underrepresented individuals, and boost an active and accessible governance environment following a free market approach with sufficient security considerations in place.
Anyone can deposit their governance tokens onto Ojo. The voting power of those tokens will be tokenized and traded on Ojo to generate yield, and a synthetic token representing the deposits will also be created and can be used to participate in DeFi to generate additional DeFi yield. The question here is how to price and maximize the yields of tokenizing and trading governance power while democratizing governance without introducing additional attack vectors to any of the DeFi projects. The Ojo team is working hard towards this goal.
The path to the future
Ojo will be fair launched and owned by the community. We want Ojo to be an inherent part of governance infrastructure in Ethereum DeFi as well as a complement to the existing work and approaches taken by different teams. We don’t want to dictate how governance mechanisms should work or how token holders should behave. We respect a free and fair environment and we are building a marketplace for the market to experiment and lead the way. The journey has just started.
Who we are
We are a group of friends excited by the mission shared here. We started off by attempting to disrupt governance but ended with the hope of contributing to governance. We are a distributed team, hard at work towards releasing Ojo, and we can’t wait to get everyone involved.
If you want to chat, reach out to us on Twitter!