Modern Theory of Democracy
In the annals of human history, the quest for a genuine democratic system, often termed the ‘holy grail’ of societal governance, has remained elusive.
First, consider the very etymology of the word ‘Democracy.’ Derived from ancient Greek, ‘Dēmokratía‘ breaks down into “Dêmos,” meaning “people,” and “Kratos,” which translates as “power.” Democracy, thus, literally signifies “power to the people.”
Wikipedia describes Democracy as a system of government in which state power is vested in the people or the general population. Yet, in contemporary democratic models, a critical distinction arises: people elect representatives rather than voting directly on matters that affect their lives. They entrust a select few with the authority to make decisions on their behalf, effectively handing over a blank check for a stipulated period.
History, however, reveals a striking constant: power, when concentrated, often tends to centralize further. As a result, in numerous so-called ‘democratic’ structures, the voice and choice of individuals get overshadowed, leading to hyper-centralized governance where the collective voice weakens. This is where the fusion of genuinely democratic values and innovative blockchain technology addresses these challenges.
By nature, transparent and decentralized, blockchain offers the potential to reimagine democratic governance. Although 13 years have passed since the inception of blockchain technology, the vision of an on-chain democracy remains unrealized, and we can see it with today’s most popular blockchains being controlled by a few entities.
Fushuma aspires to change that narrative. By proposing a vision of a decentralized voting system and synergizing it with the Fushuma Treasury, we aim to pioneer a truly democratic system where power belongs to the “Dêmos.”
“At each stage of human existence, the adult man is off on his quest of his holy grail, the way of life he seeks by which to live.” Clare W.Graves
Why Decentralized Governance?
I. Decentralized From Day 1
Fushuma’s coin distribution exemplifies our commitment to decentralization.
- 24% CLO coin and CLOE holders.
- 40 % On-chain Treasury Governed by DAO:
- Venture Capitals (VCs) – On-chain Sale to fund Treasury.
- Marketing.
- Development Grants.
- Initial Liquidity – DEX Listing.
- CEX Listing.
- POS rewards.
- Ecosystem Improvement Grants.
- Partnership Grants.
- Charity Grants.
- 15% Founders and Founding Partners.
- 15% VCs, Technology Partners & Advisors.
- 6% Airdrops.
II. Fushuma Treasury
A unique network feature allowing for grants, avoiding traditional centralization, and promoting further decentralization.
III. A Revolutionary Proof Of Stake Model
The Fushuma team has been inspired by the Ethereum PoS model. It has been redesigned to propose a truly decentralized Proof of Stake model.
Setting the stake threshold at 1,000,000 FUMA ensures that only active and invested node operators secure the network operation.
Democracy relies on individuals’ active involvement in the decision-making process. Similarly, the Web 3.0 digital era should be characterized by users’ active and decentralized participation, ensuring a robust and equitable digital future for all.
Driven by a vision to empower the community, granting them complete control over the network’s direction, Fushuma On-chain Democracy’s core objectives encompass:
- Overseeing the smooth implementation of upgrades.
- Facilitating the adoption of innovative consensus.
- Managing the emission and distribution of new coins.
- Strategic allocation of funds from the Fushuma Treasury.
Fushuma’s vision is an environment where every network participant’s voice is valued, significantly impacting decision-making. While we believe in unconditional decision-making rights, we also recognize the need for solid checks and balances. These measures prevent any majority from unilaterally impacting the network’s health or unfairly exploiting the Fushuma Treasury.
The aim is to ensure a fair, inclusive, and secure platform where the interests of the community as a whole are protected.
Proposal Submissions
Through the Fushuma Improvement Proposals (FIP), all community members are invited to participate in the network’s life, instilling a sense of collective ownership. By integrating this transparent, user-friendly process with decentralized governance, we project a global democratic experience.
- A nominal fee of $20 will be required for each proposal submission to Fushuma. This fee strikes a balance between accessibility for proposers and the need to maintain the integrity of the governance process.
- The collected fees will be allocated to the Fushuma Treasury, contributing to the network’s development and sustainability.
Voting – Nodes and Users Participation
Users are empowered to vote on Fushuma Improvement Proposals and, therefore, the treasury fund allocation.
In this democratic system, every node and user will be granted an equal vote based on the amount of staked FUMA coins. (The longer the lock period, the more votes).
Fushuma Governance Mechanism
- Proposal Submission Process: Community members are encouraged to submit well-reasoned proposals via a dedicated platform. Each proposal should specify its intention, the expected results, and the expected funding.
- Dynamic Thresholds for Consideration: A dynamic upvote threshold ensures that only pertinent proposals advance. To be considered, a proposal threshold will be specified based on the proposal’s value. (Small feature grant requires less voting threshold than big project grant).
- Voting Participation: To stimulate an environment of active governance, voters will be eligible for treasure bonuses and rewards.
- Resolving Rejections: If a proposal fails to obtain sufficient votes, the author can revise it. To ensure progress, re-submitted proposals must significantly address previously raised concerns and describe the changes made.
- Protection Against Malfeasance: The community will be able to collectively flag suspicious or harmful activities. Accumulating flags from more than 1/3 of the previous voting session’s active participants triggers a community-wide vote on the ostracism process.
- Ostracism Process and Sanctions:
- In the event of a majority vote for ostracism, the flagged entity will face sanctions
- An appeal mechanism is in place to ensure fairness and allow for contestation of the decision.
Promoting Active Participation with Sortition
To further decentralize the voting power and include a broader community base, Ambassador rights will be awarded to the proactive community members. This mechanism is directly inspired by Athenian democracy, where citizens had an equal opportunity to hold public office, thereby reducing the risks of corruption and elite domination in governance.
Implementation and Review
This integrated rewards system will be initially introduced as a pilot program, with continuous monitoring and evaluation to assess its effectiveness in enhancing democratic participation.
Based on community feedback and data collected, adjustments will be made to ensure fairness and the network’s health.
Implementation Phases
- Phase 1 (start): Initial control by the Fushuma team.
- Phase 2: Full treasury control transitions to the community, realizing our vision for a decentralized democratic ecosystem.