Announcing Kadena Cabinet: Shape the Future of Kadena

Announcing Kadena Cabinet: Shape the Future of Kadena
Kadena

Kadena

April 3, 2024

As a community-driven protocol, Kadena is excited to announce the development of a new initiative to enhance the Kadena ecosystem: Kadena Cabinet aka Community Advisory Board (CAB)! Kadena CAB enables KDA holders to bond their KDA to earn yield and influence strategic decisions through polling.

While Kadena CAB is currently in the proof-of-concept phase, we recognize that our community has been eagerly awaiting this initiative and want to provide updates as development is taking place. Dive into this blog to learn more about the upcoming Kadena CAB initiative, the benefits of bonding your KDA, and how you can use polling abilities to impact strategic decisions in our ecosystem.

What is Kadena Cabinet?

Kadena CAB is more than just a yield-churning protocol; it's a collaborative advisory body where KDA token holders come together to provide strategic insights and influence the decisions that drive the Kadena network forward. By bonding their tokens, KDA token holders become Cabinet Members, gaining a seat at the table and a voice in shaping the ecosystem.

Kadena CAB is an advisory board that influences duties related to Kadena. We chose to call this the Kadena Cabinet to emphasize the platform's role as a collaborative, community-driven influential body where KDA token holders come together to impact the future of the Kadena network.

Kadena CAB is comprised of two main components:

  1. Influence insights through the on-chain polling mechanism
  2. Earn reward through participation in ecosystem proposals

What is Bonding?

Bonding is a mechanism in which token holders lock up a number of tokens for a set period in exchange for earning yield or alternative rewards. Bonding also allows you to participate in certain activities with your bonded tokens, such as securing a network (staking) or influencing decisions.

The bonded tokens function as a security deposit. The rights to participate or earn additional tokens attached to the token holders are lost when unbonded. Bonding demonstrates a long-term commitment to the network and a desire to be more active in Kadena’s development.

In 2021, Kadena launched its initial bonding program to secure a decentralized bridge, which was at full capacity within hours of its launch. With overwhelming interest in our bonding program throughout the years, we’ve decided to introduce a new and improved bonding program that is more accessible to our community and has added utility.

On-Chain Polling

One of the most unique advantages of blockchain technology is the ability to leverage transparent, immutable decision-making for communities of all shapes and sizes. Kadena CAB is an all-in-one platform designed to give additional utility to the KDA token by giving a voice to our supportive community members.

With Kadena CAB, Cabinet Members can offer their opinions to the Kadena team through on-chain polling opportunities. In exchange for locking up KDA tokens (i.e., bonded tokens), Cabinet Members earn a seat on Kadena’s Community Advisory Board (CAB). Cabinet Members will earn twofold — the right to participate in the polling on proposals related to Kadena, such as Kadena Improvement Plans (KIPs) across initiatives from product roadmap to the direction of our tech suite, and a reward on their bonded tokens.

Finally, because Kadena CAB leverages Kadena’s scalable and secure blockchain infrastructure, we can ensure a robust and reliable platform for our community. The efficiency and security offered by Kadena are crucial in managing high transaction volumes and bonder funds.

How to Participate?

To get started, you will just need to bond your KDA tokens for a fixed duration and a seat on the Kadena Community Advisory Board (CAB). The benefit of being a CAB member is that you get to help influence the ecosystem's evolution while earning KDA.

After the bond lock period, you can un-bond your KDA tokens and reclaim your initial deposit along with a small percentage in reward for contributing to the ecosystem. Funds are seamlessly transferred back to the account initially used to bond the tokens, ensuring a simple and secure KDA retrieval process. Once you have un-bonded, you will no longer be an active Cabinet Member.

Conclusion

Kadena CAB represents our commitment to nurturing an engaged, active community within the Kadena ecosystem! Kadena CAB offers KDA token holders a voice in our network’s decision-making process. The Kadena CAB initiative is critical to a truly decentralized, community-governed ecosystem. With Kadena CAB, each and every token holder has a say in the ecosystem’s success and growth.

Follow us on Twitter to learn more, and join our Discord and Telegram to provide your input on the direction of Kadena CAB.