PIVX is a Decentralized Autonomous Organization (DAO), which is one of the most innovative business models available today. This allows organizations like PIVX to fully utilize the potential of a business that is not owned by anyone and is based on blockchain technology.
The PIVX treasury is a virtual fund that is allocated 10 PIV per block added to the network, resulting in a budget of 432,000 PIV each cycle.
These PIV are not created, only made available for allocation. As part of the proposal process, community members submit proposals to the system and Masternode owners vote on them. Proposals that pass are then granted the funds requested.
DAO stands for the Decentralized Autonomous Organization. It is simply an organization that is purely ownerless and its rules are written in a code. PIVX DAO is governed by the PIVX community by voting model, which is currently 1 Masternode = 1 vote. Through voting, community can decide which proposals they want to support and fund to get the service offered in a proposal.
Any proposal submitted can be voted on. The range of the proposals vary between marketing, products, development, community management or fun projects. The community decides, YOU decide.
You vote via your wallet. There are various places to also discuss and get a read on the proposals that are up for voting in the wallet.
We feel that if you are your own bank, you should have a choice in what direction the bank goes. Voting in our DAO/Governance can be making important changes or trivial ones just like in real life. So we find it important to act in the interests of everyone who participates and everyone has a chance to. The PIVX treasury is also completely transparent to show users that we are well established and trusted as a DAO that allows users to vote on how the funding should be used.