- IOTA has announced the results of its Shimmer governance voting on the Tangle Community Treasury that was held between June 17 and July 2.
- The community has elected Linus Nauman as the new Program Lead for the Treasury, with four others, including Nicole O’Brien and Yi-Wei Lin, getting into the Grant Comittee.
In its spirit of decentralized democracy, IOTA has announced the results of the voting process that took place over the last two weeks of June to select new leadership for the Tangle community.
The voting process was announced in mid-June, with community members encouraged to vote via their Firefly or Bloom wallets. This was around the same time the IOTA Foundation revamped its leadership and created the Technology Adoption Department to promote its technology globally, as detailed by Crypto News Flash.
The preliminary results were first announced on July 2, with the Shimmer L1 nodes given a few days to verify them before they are confirmed as final.
❗️Tangle Treasury committee election results are in*❗️
The new team will be:
Program lead: @LinusNaumann #Shimmer Reviewers:@cheerful_nicole @finanzgoblin @Phantom_3D @STWei8*results are preliminary and will be verified by Shimmer L1 node owners over the next days.…
— Tangle Community Treasury 🏦 (@TangleTreasury) July 2, 2024
The nodes have now confirmed these votes, as revealed in a recent blog post. This confirmation “establishes a legitimate elected Tangle Treasury DAO LLC and enables the Tangle Community Treasury to continue operating with a strong mandate and refreshed team.”
The big winner is Linus Nauman who takes over as the new Program Lead of the Tangle Community Treasury.
The Tangle Community Treasury is a committee-based grant program that supports the Shimmer and IOTA networks by empowering their builders and innovators. This committee reviews and approves developers’ proposals while maintaining a transparent operation infrastructure.
The IOTA ecosystem has been highly active in issuing grants to encourage innovation. As we reported last week, it has funded 26 of 99 total applications to the tune of $2.744 million, with the applicants building solutions in lending, SocialFi, DeFi, NFTs, and beyond.
Nauman thanked the community for the votes and pledged to leave nothing behind in his quest to push IOTA development. He stated:
As the new program lead of the Tangle Treasury, I will make sure the community funds are spent thoughtfully and effectively. We will grow the IOTA and Shimmer ecosystem.
Besides Nauman, ten other people were voted in, including Nicole O’Brien, Richard Mediavilla, Yi-Wei Lin, and Phantom 3D. These four received the most votes and will join the Tangle Community Grant Committee for the Shimmer network. Nicole O’Brien is no stranger to the IOTA community, being the CTO at Bloom Wallet.
Following the successful voting process, the Tangle Treasury DAO will meet to offer them new contracts and to release the previous holders of the positions. The handover process will include sending the committee’s funds—which it was allocated through another voting process in March—to new multi-sig wallets to be controlled by the new electees.
The revamped Treasury committee is the latest in IOTA’s ongoing efforts to better position the network for global domination as envisioned by founder Dominik Schiener.
Meanwhile, IOTA has gained marginally, posting a 2.28% rise in the past day to trade at $0.1537, despite a 35% dip in trading volume.
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