Edgeware is a WebAssembly (WASM) smart contract platform in the Polkadot ecosystem, focused on active on-chain governance and treasury management. Other than Kusama, it’s one the first potential parachain candidates for Polkadot, aiming to launch before the Polkadot network is live. Edgeware participants can vote on proposals to improve the network through a set of governance modules that allow rapid testing of different decision-making processes: essentially participants can vote, delegate, and fund each other to upgrade the network.
The initial Edgeware token distribution occurred via a lockdrop: a modified airdrop where participants timelocked ETH to receive EDG. Edgeware, like other Proof-of-Stake networks, requires validator participation in the network to ensure transactions are well-formed and the network is secure. Validators earn block reward and transaction fees for their network participation. Tokens can be used to influence the network’s governance.
In the Edgeware protocol, validators can be slashed due to downtime or double-signing. If your EDG are delegated to a validator that gets slashed, you run the risk of losing a percentage of your delegated tokens. (Learn how the Bison Trails platform reduces the risk of slashing on participatory blockchain networks.)
There are several protocols that utilize variations of on-chain governance mechanisms, such as Cosmos and Tezos. However existing protocols are largely not focused on applying governance mechanisms to governance itself. Our perspective: Edgeware is well-positioned to lead innovation in this space as the wide token distribution, with overwhelmingly anonymous token holders, will likely reveal how governance design choices affects active participation and voter turnout.
On-chain governance is a hotly contested feature. While governance mechanisms in early blockchains like Bitcoin and Ethereum are intentionally unspecified, newer protocols tend to favor explicit on-chain governance.
Many developers on parachains and threads in Polkadot will be interested in on-chain governance as it applies to their specific needs, but they may not necessarily focus on addressing the governance ecosystem more holistically. Edgeware is well-positioned to serve as a complementary toolkit to empower the Polkadot ecosystem, leveraging existing and working governance processes, comprehensively.
Bison Trails is a blockchain infrastructure platform-as-a-service (PaaS) company based in New York City. We built a platform for anyone who wants to participate in 25 new chains effortlessly.
We also make it easy for anyone building Web 3.0 applications to connect to blockchain data from 33 protocols with Query & Transact (QT). Our goal is for the entire blockchain ecosystem to flourish by providing robust infrastructure for the pioneers of tomorrow.
In January, 2021, we announced Bison Trails joined Coinbase to accelerate our mission to provide easy-to-use blockchain infrastructure, now as a standalone product line. The Bison Trails platform will continue to support our customers. With Coinbase’s backing, we will enhance our infrastructure platform and make it even easier to participate in decentralized networks and build applications that connect to blockchain data.
We’re uniquely positioned to provide premier, enterprise-grade node infrastructure for Edgeware validators:
“Bison Trails provides an invaluable service to protocol teams like Edgeware; from working with us in the early days of the testnet to actively participating in governance. By helping token holders run their own validators, they’ll continue to help our network grow securely and remain decentralized. We’re looking forward to continuing to work with the team as we launch the network!” Dillon Chen, CEO and Co-Founder of Commonwealth Labs, core developer of Edgeware
Our team of protocol experts is ready to answer your questions. Visit https://bisontrails.co/edgeware or contact us to learn more about our enterprise-grade blockchain infrastructure platform, and our work to support Edgeware’s launch.
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