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Metanance is governance 2.0 which refers to governance in metaverse.
Metaverse provides people with opportunities to create new values in a future society where jobs are lost by artificial intelligence and robots. Metaverse allows users to interact three-dimensionally and expands the scope of social and economic activities without time and space restrictions. These changes can be seen as a natural flow of IT development. With the birth of the Internet, the connection between humans and the virtual world began. Transaction of money through the Internet, Internet-based e-commerce can also be viewed as a part of the metaverse which connects the real world and virtual world(Internet) to enable social and economic activities..
Recently, the combination of visualized virtual space technology(2D,3D), Ar/Vr devices and blockchain technology is accelerating the flow towards hyper-connection that connects reality and virtuality.
Metaverse platforms such as Meta(Facebook)'s Horizon and Gather Town provide networking, video conferencing, and conferences through avatars in virtual space, and provide traditional organizations with new technologies that can operate global business organizations that transcend time and space constraints.
Metanance is a compound word of meta(meaning virtuality) and governance which refers to governance in virtual space.
As a broad concept, from guilds and clans in the game to the traditional organizations and groups that are operated in the metaverse can be included in the category of Metanance. These organizations can operate based on Metanance. However, because the concept of 'ownership' of the organization is lacking (games) or only a specific group of people has ownership (traditional organizations), the governance of these organizations is weak.
In a blockchain-based protocol using smart contracts, the ownership centered on governance tokens. If blockchain-based protocol operation is achieved through Metanance, it goes beyond traditional organizations’ governance of hierarchy operation in the metaverse. Operation can be done by people who contribute to the protocol through staking their tokens(Stakeholders), not just a specific group of people.
A new organization based on Metanance contributes to the creation of new values by providing digital jobs in the era where the value of labor is declining. It also provides opportunities for asset growth by acquiring ownership of the organization.
Metanance can exist in various forms, from Centralized Organization Governance to Decentralized Autonomous Governance. Recognizing that DAO based on Metanance is the ideal form of organization, NEURONswap aims to form a decentralized political organization under smart contracts which has stronger enforcement than the law and the goodwill of the majority.
In the initial development stage of the protocol, where resources are limited, we believe that it is effective for the NEURON team to lead governance and develop protocol technology with the vision of the NEURONswap’s initial plan to realize a decentralized and highly automated organization more quickly. NEURON team will gradually develop from team-led governance to community-led decentralized governance according to the development of protocol technology, stabilization of governance policies, and development of community awareness.