Wormhole DAO to Acquire MultiGov, Enabling Multi-Chain Governance

The Wormhole DAO will be initiated to acquire MultiGov by enabling W holders to create and vote on executive government proposals for any supported chain. This integration is coming under an innovative governance model by marking a significant transfer towards the significant inclusive and decentralized decision-making process by operating on a level of multiple underlying chains.

Multichain Governance

DAO can be operated by users on any chain. This availability of Multichain governance allows DAOs to meet their token holders. DAO members can initiate proposals and delegate votes by participating in governance for on-chain DAO from any chain for holding tokens. MultiGov will support multichain DAOs across Ethereum mainnet, Solana, and EVM L2s. 

With the expansion of more projects towards multichain, MultiGov will reduce growing disruptions within DAO participation. It even increases user reach closer to all renewed ecosystems. Wormhole, Tally, and ScopeLift are amalgamating their expertise in delegation, building Multichain infrastructure, and in state-of-the-art to create MultiGov.

The distinction between Single-chain and Multichain

Previously, DAOs provided their token, treasury, and governance on the Ethereum mainnet, while now, DAOs operate their governance on a single chain. However, the governance participation cost has been increased due to the rising cost of L1 gas. Additionally, DAO token holders are highly distributed among several chains due to the growing robust multichain infrastructure. 

To maintain an accessible, active, and decentralized governance, several present DAOs are looking for better options for expanding their governance systems. The new protocols of DAOs aimed to plan its multichain strategy from the initial days by launching on one separate network and strategically expanding towards other chains to obtain the growth of liquidity and users.

Implementation

A DAO MultiGov has a standard ERC20Votes token on the “hub” chain along with OpenZeppelin Governor and Flexible Voting extension. The hub can be worked on the EVM chain. Here, token holders can transfer their hub governance token to the spoke chains. 

There was a native governance token on each “spoke” and a spoke Governor contract. These native governance tokens can keep track of voting power on the chain while there is a proposal for token holders regarding that spoke chain for submitting the votes to the spoke governor. 

Users can submit their votes directly to the spoke Governor, which can be aggregated and sent again to the hub chain via cross-chain message. The hub chain users can submit their responses directly to the hub chain Governor.

After the voting period, the hub chain will evaluate the votes from all the spoke chains and users who have submitted directly on the hub. After that, these votes will be executed on the hub chain after the proposal gets passed and later sent the votes for execution through a cross-chain message.

Through such implementation, MultiGov can reach contributors at ScopeLift, Tally, and Wormhole by submitting a form.