Project Update | 2019.6.28

mds20190702

 

MDS is the first global mutual insurance marketplace on the blockchain. It combines the traditional mutual insurance model with blockchain and smart contract which provide a low operation cost and guarantee of compensation for risks.

We gratefully thank all the community friends and MDS fans that the project could not go far without your support and trust. MediShares project focuses on long-term development, and our community will always follow the principle of fairness and transparency. We biweekly release our project updates in form of the following progress journal:

MDS DAO Structure

MDS

 

MDS DAO white paper: http://blog.medishares.org/?p=1839

What is DAO

Distributed autonomous organization (DAO) refers to an organization that can operate autonomously without relying on bureaucratic management. It performs collective decisions and completes specific claims through a protocol of trust.

The development around DAO has been accelerating in recent years, and we can clearly see that DAO has a profound impact on how organizations are managed. DAO has a huge impact on how communities and participants are organized.

Compared with traditional organizations, DAO has the advantages:

  • Decentralized decision  — — DAO has no leader or management, so members can directly and quickly influence an important decision.
  • Community involvement and win-win — — Any level of currency holders can submit proposals and suggestions for improvement.
  • High efficiency and automation — — Most DAO rules and policies are set up at the beginning of the run. Once the rules are established, the DAO’s operation no longer needs to be managed.
  • Transparent — — Everything happening in the organization is recorded on the blockchain and viewed by everyone.

MDS DAO Contract Committee Guide

MDS DAO Contract Committee will be responsible for MDS contract update and maintenance:

  1. Community members will be voted to enter the contract committee;
  2. Anyone can contribute to the project (no KYC required);
  3. The voting rights are proportional to the KEY obtained by participating in the mutual assistance contract;
  4. MDS Foundation will set up an incentive plan to keep the contract committee running;
  5. External members can enter the contract committee through guarantees;
  6. Ensure that outsiders need KYC or known by initial contract committee team members;
  7. Guarantee for someone means that you are responsible to them;
  8. The guarantee records will be saved;

MDS DAO Contract Development Progress

Completed the core logic of the EOS DAO Mutual Assistance Contract.
Adjusted the optimization of delegation and undelegation between KEY and SKEY.
Adjusted the length of the voting time that can be configured when the contract is created.

MDS Lockdrop Progress

Total locked MDS : 8,575,731

Lock Time:2019/6/20 0:00–2019/7/5 23:59:59 GMT+8

For more about the MDS Lockdrop Program, please view:
http://blog.medishares.org/?p=1878

MDS Telegram Group:

https://t.me/medisharesEN

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