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May 6, 2021

Aventus Launches Governance to Democratize Control of its Network

Aventus token holders can now vote on all major development decisions

London, May 6, 2021: Aventus – a layer-2 blockchain protocol that brings scalability, speed and lower costs to Ethereum transactions – today announced the launch of its community governance platform, providing Aventus Token (AVT) holders with full control over major decisions about the network and greater transparency.

In future, all decisions about parameters, chain configuration and upgrades related to the Aventus Network (AvN) and AVT will be decided by a binding community vote.

The voting system is being rolled out using the framework via snapshot.page – a popular off-chain, gasless, multi-governance community polling dashboard. Any AVT holder can participate in voting, with each held token equating to a single vote. AVT holders who are part of the Validator Schemecan also participate, receiving two votes for each AVT staked. There are 10 million AVT in circulating supply, with 2.5 million of these staked on the Network.

Alan Vey, Founder and CEO of Aventus Network, said: “The launch of our governance platform ensures that every AVT holder now has a say in deciding the future of Aventus Network. This is part of our wider ethos of driving transparency and robustness in all our activities. Not only do we believe that this is an important step for our Network – we believe this approach is the natural next step for blockchain as the technology matures and its use-cases expand. We are 100% committed to being community-led and look forward to engaging directly with our token holders.”

The first proposals hosted on the platform will be non-binding test proposals, to accurately gauge voter turnout levels and ensure that token holders understand the process.

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