DeFi projects and Decentralized Autonomous Organizations (DAOs) are a perfect fit for Media’s dCDN, allowing them to serve their websites and applications without going through legacy Web2 centralized providers’ hassles.
PaaS (Protocol as a Service)
Like DeFi and DAOs, Media is founded on the principle of permissionless, open access and does not decide who can use the service. Compared to legacy CDN providers used today by most projects, Media Network doesn’t have risks such as depending on a team member’s using email address or a credit card to enable and maintain these services. A multisig-created dCDN resource completely removes today’s ability of one of the team members to shut down websites or applications taking unilateral decisions.
A DAO can’t get an account with Cloudflare or Vercel but can easily buy $MEDIA through a DEX to pay for the services.
Since the network launch back in April last year, we’ve seen impressive growth. A few star websites like Solanart (The OG Solana NFT Marketplace, processing millions of dollars a day) are currently live on Media’s dCDN.
The NFT Marketplace lists the most popular collections and processes millions of dollars a day, serving APIs and images to end-users directly from the dCDN.
Today, we’re excited to announce “The Media DAO,” a community-led entity with no central authority in charge of controlling the fate of the network. Anyone holding $MEDIA tokens can now vote and shape the protocol through on-chain proposals. Media Governance UI code can be forked from here. There’s also a front-end hosted at https://dao.media.network and http://8jxrvc8h.dcdn (Handshake).
To achieve all this, the Media Smart Contracts and SPL programs are fully autonomous and transparent, lay the foundational rules, and execute the agreed-upon decisions directly on-chain. Ultimately, the Media DAO is governed entirely by its members (the $MEDIA token-holders), who collectively make critical decisions about the project’s future, such as technical upgrades, grants, and treasury allocations.
Community members create proposals about the future operations of the protocol and then vote on each proposal. Submissions that achieve consensus are then accepted and enforced by the rules instantiated within the smart contract. Large corporations ‘ familial hierarchical structures give way to community collaboration under this framework. This way, each member of the Media DAO oversees the protocol at some level.
The elegance of this framework is the alignment of incentives. It is in the individual’s best interest to vote only for proposals that serve the best interest of the protocol itself. A healthy, robust protocol will garner more usage and increase the value of the tokens that each DAO member owns. So as the network succeeds, so do $MEDIA token holders.
About Media Network
Media Network is a protocol that foregoes traditional centralized CDN approaches and opts for a self-governed, community-powered alternative. We’ve created a decentralized bandwidth market that enables anyone to hire or provide resources from the network as the demand for last-mile content delivery fluctuates.