"Compliance and decentralization are not opposites, but rather two parallel paths for HTX DAO to mature and enhance its global competitiveness."
On August 14, the 18th issue of "DAO Friends, Please Stay" hosted by HTX DAO focused on the theme: "Behind the Upgrade of the HTX DAO White Paper: How Institutional Experiments Evolve into Real Paths?" It invited HTX DAO Core Builder Liu Ye, Helium, and other crypto KOLs to discuss key topics such as core adjustments to the HTX DAO white paper, challenges in implementing systems, enhancing community participation, and responses to compliance, exploring the future of on-chain financial governance and the development direction of $HTX.
Behind the Update of the White Paper
The HTX DAO white paper has recently been updated, which is not just a textual update but a milestone declaration of direction—starting from the exchange, moving towards becoming a core force in on-chain financial governance, creating a user-led financial free port where every participant has both decision-making and profit rights.
It is reported that the updated white paper refines the earlier abstract ideas into specific, actionable plans, clarifying the scope of governance authority and specific cases, allowing the community to better understand the project's practical path and development direction.
The new HTX DAO white paper clarifies that the long-term momentum of the DAO 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 profit returns. At the same time, ecological units like Huobi HTX and TRON are giving back to the community through mechanisms like burning, repurchasing, and airdrops, constructing a positive cycle of "participation—profit—re-participation," encouraging more users to engage in governance and continuously enhancing the vitality and ecological attractiveness of the DAO.
On this basis, the governance boundaries of HTX DAO will extend to broader ecological fields: including granting governance rights to modules like Launchpad, Launchpool, and on-chain wealth management; exploring DAO control entry points for new financial sectors such as RWA, LSD, stablecoins, and cross-chain bridges; and promoting on-chain cooperative projects to gain traffic and distribution resources through HTX DAO governance. Ultimately, HTX DAO will gradually develop into a "financial sovereign haven" governed by global holders, enjoying real value, dividends, and belonging on-chain.
During the live broadcast, Liu Ye candidly stated that the direct reason for updating the white paper was the external review prompted by the application for compliance as a trading platform in Europe and the United States, which led the team to re-examine the white paper and find that the early content was somewhat vague regarding the integration of DAO and decentralized exchanges, lacking concrete and actionable explanations. On the other hand, the team has developed a clearer understanding of the governance mechanism, implementation path, and future planning of the DAO, necessitating an update to reflect these changes. For example, the economic model has been adjusted from a "liquidity donation" model to a "quarterly burn" mechanism in the third quarter of 2024—adopting a strong deflationary model, with 50% of platform revenue regularly used for repurchasing and burning $HTX every quarter.
She emphasized that the white paper, as a standard for blockchain projects, should not only carry the team's latest thoughts, adjustments, and practical paths but also provide an authoritative and comprehensive information source, allowing users interested in the project to clearly understand its development direction and strategic adjustments.
In this regard, Helium believes that HTX DAO is a grown-up DAO, possessing the attributes of a "scales" tool, combined with a modular operational model, forming its core dimension. Bluebird Club member Jing Yi believes that the white paper embodies the concept that "users are participants, and participants are beneficiaries," effectively mobilizing the enthusiasm and initiative of community members.
Adhering to Long-termism
During the live broadcast, Liu Ye discussed the development of the voting recommendation mechanism, pointing out that it is essential to first clarify what problems this mechanism aims to solve and what actual benefits it can bring to users; secondly, a reasonable incentive system needs to be designed to attract and retain long-term participants.
She emphasized that the voting mechanism, similar to long-term projects, will inevitably go through a period of volatility—sometimes gaining popularity, sometimes hitting bottlenecks—but the key is to adhere to long-termism, continuously solving problems that arise in the process, and viewing the entire governance process with a developmental perspective.
Liu Ye further stated that allowing users to continuously benefit is not about gathering popularity through one or two phases, but about perfecting the mechanism over one or two years to create a successful governance system. In the next 6-12 months, the focus will be on three major areas: verifying the effectiveness of the voting mechanism; establishing a treasury and points system to visualize contribution profits; and opening up developer permissions on the official website, forming a DAO co-construction with point incentives.
Seeking a Balance Between Compliance and Decentralization
In response to media questions about "how HTX DAO seeks a balance between compliance and decentralization," Liu Ye stated that since its establishment, HTX DAO has regarded "long-termism" as its core philosophy, which is particularly important in the current context of constantly changing global regulatory environments. She believes that when capital and regulatory forces both focus on the crypto industry, it signifies that 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 have misunderstandings or even concerns about compliance, but essentially, laws and regulations are important mechanisms to protect the rights and interests of the majority and maintain fairness and stability. For HTX DAO, this is not only a challenge but also an opportunity to promote healthier and more sustainable development.
However, the ideal of decentralization is not achieved overnight. Liu Ye admitted, "The team's initial understanding of decentralization was a bit 'too loose,' thinking that DAO was just about letting everyone speak freely and vote on decisions. But practice has shown that most people's votes only represent intentions, not necessarily expertise, and may even be swayed by emotions, which does not align with long-term development patterns."
To this end, HTX DAO has adopted a "pilot" strategy—first validating governance mechanisms and product solutions on a small scale before gradually expanding. This approach can both identify and correct potential issues while finding a balance between safety and efficiency. Liu Ye emphasized, "In the short term, certain phased decisions may not be completely decentralized, but as long as the direction is clear and we adhere to the belief of ultimately achieving decentralization, we can be at peace with ourselves."
Liu Ye concluded that the DAO team has strong resources and experience reserves. The core builder Sun Yuchen's team has experience in global compliance, financial innovation, and the implementation of blockchain applications, providing solid support for HTX DAO to respond to international regulatory changes. In her view, compliance and decentralization are not opposites but two parallel paths for HTX DAO to mature and enhance its global competitiveness.
About HTX DAO
As a multi-chain deployed decentralized autonomous organization (DAO), HTX DAO showcases an innovative governance model. Unlike traditional corporate structures, it adopts a decentralized governance structure composed of diverse groups, collectively committed to promoting the success of this organization. Its unique ecosystem advocates open values, encouraging all ecological participants to propose suggestions that can facilitate the development of HTX DAO.
Contact Information
Official website: www.htxdao.com
Email: media@htxdao.com
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