The Etherconnect Belongs to the Bitconnect Worldwide Community.
Etherconnect achieved an important milestone in our pursuit of progressive decentralization: we are going to launch an on-chain system that freely and continuously distributes ECC tokens to users of the Etherconnect DeFi protocol. The user distribution system is a critical element of community governance, ensuring that the protocol’s users are also its owners and managers.
Bitconnect is going to launch the final step in the Etherconnect decentralization process that we announced in January. Our core work on the Etherconnect DeFi protocol is done and yield farming, and staking will live on 28th January.
Bitconnect played a central role in the development of the Etherconnect, Staking, Yield Farming, DeFi protocol. Through traditional equity fundraising (not token sales), we funded and built a key piece of infrastructure for the DeFi space. We then turned over control to the community by distributing ECC tokens to a collection of the protocol’s most important stakeholders. Now that the user distribution system is live, it’s time for us to step back and for the community to take charge.
Taking a Step Back
Bitconnect promote the Etherconnect decentralization and empower community governance, we’ve adopted a set of rules and guidelines limiting how we interact with the protocol and ECC from now on. For example, Etherconnect will not:
- Serve a continuing managerial role in community governance;
- Participate directly in governance, such as by voting or delegating ECC;
- Privately coordinate votes for or against governance proposals; or
- Conduct or pay for security audits of third-party governance proposals.
ECC holders must learn to manage the protocol without us. We’ll still be available to answer questions about the work we’ve done, and our employees may decide to participate in governance as individual members of the community themselves (or not). Beyond that, we leave the Etherconnect protocol to you.
As we’ve said many times before, Etherconnect empowers community governance — it isn’t a fundraising device or investment opportunity.
Free and Open Source
I’m glad to announce that the Etherconnect protocol is now fully open source: we’ve replaced our prior license with the BSD-3 open source license. This means anyone can use, modify, and redistribute the protocol free of charge. We’ve also applied for protocol-related patents, but if they’re issued, we’ll use them for defensive purposes only.
What’s next for Etherconnect?
Since our founding, we’ve focused exclusively on building and decentralizing the Etherconnect protocol without regard for revenue — we don’t profit directly from the ECC protocol at all.
Now that our core work on the protocol is done, we’re shifting our focus to developing new products and services for the crypto industry. We don’t have anything to announce quite yet, but stay tuned!
ECC Token is officially Launch Worldwide.
So let’s connect your team together and join the official launch.
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https://t.me/etherconnectofficial
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