pax.world's native token, the PAXW, is a utility token, which means that it serves a multitude of purposes. It pretty much makes pax.world go round. While it is not, therefore, a "governance token" in the pure sense, it does play a role in the governance of the pax.world of today and help to shape the pax.world of tomorrow.
Unlike certain other metaverse platforms, and unlike the social internet to date, the ultimate goal with pax.world is to move towards meaningful decentralization of metaverse governance. Some platforms have little interest in decentralizing ownership or decision-making.
Early Web3 is also littered with examples of frivolous or haphazard deployment of Decentralized Autonomous Organizations (DAOs), the most prominent vehicle for decentralization and democratization. While there is nothing wrong in principle with throwing up DAOs like umbrellas all over the internet and for every purpose under the sun, the decentralization of an innovative next-generation metaverse such as pax.world requires careful thought.
Beginning with the launch of the PAXW token in October 2022 and the subsequent phased launch of the world itself, Governance at pax.world is setting out on a measured, purposeful path to decentralization. Early observations of token activity and, later, user interactions, will inform not only the implementation of reward schemes for token holders, stakers and active pax.world citizens, but also the most prudent organizational models for the custody and management of the future DAO's treasury and the fair, transparent running of pax.world for the benefit of the community.
Further details of the road to the DAO will be published here soon.
In the meantime, check out the REWARDS section for details of current and upcoming token utility mechanisms.