Extending Governance to the Base Network: RAI Finance’s Next Chapter in Decentralization

We are excited to share a significant development in our journey towards decentralized governance. Building upon the success of our governance feature on the Ethereum network, RAI Finance is proud to announce the expansion of governance functionality to the Base network. This expansion marks a new chapter in our commitment to empowering our community and fostering inclusive decision-making within our ecosystem.

In the Base network, SOFI has garnered over 35,000 holders, solidifying its position as the 11th token with the highest number of holders as of April 2024. Meanwhile, Soswap has achieved a Total Value Locked (TVL) surpassing $1.5 million, accompanied by a daily trading volume in the million-dollar range. This underscores our platform’s organic growth, free from artificial inflation, and highlights its consistent advancement.

At RAI Finance, we believe that decentralized governance is fundamental to the long-term sustainability and growth of our platform. By extending governance to the Base network, we are broadening opportunities for our community members to actively participate in shaping the future of RAI Finance.

What does this expansion mean for you?

• Enhanced Participation: With governance now available on the Base network, community members who hold SOFI tokens on the Base network can actively participate in proposing, discussing, and voting on important protocol upgrades and initiatives.
• Cross-Network Collaboration: Bridging governance between Ethereum and the Base network fosters collaboration and synergy across our ecosystem. Members from both networks can contribute insights and perspectives, enriching the decision-making process.
• Increased Accessibility: Extending governance to the Base network enhances accessibility for users who prefer to transact on this network, ensuring that a broader spectrum of voices is heard and represented in governance decisions.
• Continued Decentralization: Our commitment to decentralization remains unwavering. By distributing governance across multiple networks, we are reducing reliance on any single network or entity, further decentralizing control over the protocol.

As we embark on this new phase of decentralized governance, we invite all community members to actively engage and participate in shaping the future of RAI Finance. Your ideas, feedback, and contributions are invaluable as we work together to build a more inclusive and resilient SocialFi ecosystem.

Stay tuned for updates on governance proposals, voting mechanisms, and community-driven initiatives on the Base network. Together, we will continue to push the boundaries of SocialFi and empower individuals worldwide.