The $MATRIX token is the governance token of Matrix Labs and it possesses the right to propose changes to the protocol, voting rights to proposals, and overall project direction through ZionDAO.
Considering Matrix Labs would still be at its early stage upon Mainnet launch, the Matrix Labs' core contributors will spearhead the decision-making and execution of the project in order to ensure long-term growth. As the platform matures and we have a robust on-chain governance mechanism in place, the Matrix Labs' core contributors will let the community govern decisions and executions. During this period, we will still hear the community's voice and factor in their interest for every step we take. Community feedback will be obtained from Telegram, Discord, and also through external voting platforms as and when needed.
ZionDAO will be launched approximately 6 - 9 months after the Mainnet launch.
At this stage, we expect the ZionDAO community council will be able to propose, vote, and implement upgrades and changes to Matrix Labs by staking MATRIX. The major implementation and the deployment of the smart contracts will still be done by the Matrix Labs' core contributors.
The scope of governance would be extended to include but not limited to:
- Market Listings
- Fee Structure
- Platform Usage Required Token Amount