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Skyren has made the strategic decision to build its Decentralized Autonomous Organization (DAO) on the Ethereum blockchain, despite its native token SKYRN residing on the Polygon network. This choice may seem counter intuitive at first glance, but it's rooted in several key factors that prioritize long-term sustainability, interoperability, and industry alignment.
Building the DAO on Ethereum provides Skyren with unparalleled cross-chain flexibility:
Asset Mobility: Ethereum's extensive network of bridges and cross-chain protocols allows for seamless movement of DAO assets across various blockchains.
Airdrop Participation: This flexibility is crucial for Skyren's core function of participating in airdrops across different blockchain ecosystems.
Future-Proofing: As the blockchain landscape evolves, Ethereum's position as a central hub ensures Skyren can adapt to new chains and opportunities without major restructuring.
Ethereum's status as the de facto standard in the blockchain industry offers several advantages:
Default Choice: Many industry leaders and projects default to Ethereum for critical infrastructure, enhancing Skyren's credibility and interoperability.
Tool Compatibility: A vast array of development tools, wallets, and services are built primarily for Ethereum, ensuring smooth integration and user experience.
Talent Pool: Access to a larger pool of experienced developers and auditors familiar with Ethereum's ecosystem.
Ethereum's mature ecosystem provides robust security and transparency features:
Battle-Tested Security: Ethereum's long-standing presence in the market has exposed it to numerous security challenges, resulting in a more resilient network.
Transparent Governance: Ethereum's well-established governance processes align with Skyren's commitment to transparency in DAO operations.
Auditing Standards: The Ethereum ecosystem has developed comprehensive auditing standards, crucial for maintaining the integrity of the DAO's smart contracts.
While Polygon offers advantages for the SKYRN token, Ethereum remains the optimal choice for the DAO:
Gas Fees and Speed: Polygon's lower gas fees and faster transaction speeds benefit SKYRN token holders for frequent transactions.
DAO Operations: The DAO's operations typically involve less frequent, more significant transactions, making Ethereum's higher fees less impactful.
Ecosystem Depth: Ethereum's deeper liquidity pools and more extensive DeFi ecosystem provide better opportunities for DAO treasury management.
Skyren's decision to build its DAO on Ethereum while maintaining its native token on Polygon represents a strategic balance:
Best of Both Worlds: Leveraging Ethereum's robust ecosystem for DAO governance and Polygon's efficiency for token transactions.
Future-Ready Architecture: Positioning the DAO to take advantage of Ethereum's ongoing scalability improvements (e.g., Layer 2 solutions, Ethereum 2.0).
User-Centric Approach: Providing users with the security and familiarity of Ethereum for critical DAO functions while offering the speed and cost-effectiveness of Polygon for token utility.
By choosing Ethereum for its DAO, Skyren ensures a solid foundation for governance, interoperability, and long-term growth, while still capitalizing on the strengths of the Polygon network for its token ecosystem. This dual-chain approach exemplifies Skyren's commitment to leveraging the best aspects of different blockchain technologies to create a robust and user-friendly platform.
