ChainX integrates on-chain governance on Common Protocol

We are very pleased to announce the partnership between Common Protocol and ChainX. Common Protocol is an all in one platform for on-chain communities to discuss, vote and fund projects together. Common Protocol will provide us with a wonderful opportunity to create a base for the development of the ChainX ecosystem. Common Protocol allows the integration of creation of referendum and treasury proposals, online discussion and on-chain voting and more. By bringing these things together allows for a new way to coordinate fruitful discussions and collaborations regarding project advancements and other related matters.

We’re very excited to be working with ChainX to help them recognize their long-term vision. Dillon Chen from Common Protocol said:

“ChainX and its community are on the verge of something great, as they’re building avenues to bring Bitcoin and other key assets onto the revolutionary Polkadot ecosystem, marking the beginning of a new era of cross-chain functionality. We’re confident that our platform and solutions will allow their community to fully thrive and coordinate the best mechanisms to advance the project to its maximum potential.”

Bringing together a forum and on-chain functionality allows for the alignment of community efforts and those of the development team. With the platform, the team aims to fortify and initiate community growth and development and to raise community building to a whole new level. The development team in collaboration with the Operations Team, a community initiative founded in June of this year, will be working towards offering bounties for development, marketing and community-building efforts. Common Protocol allows us to create new ways of community engagement and to reward these efforts. More ambitious goals can be achieved through the creation and voting on referendum and treasury proposals. This and more can all happen in one place, making the ChainX governance focussed and transparent. The collaboration with Common Protocol allows us to shape the way we run ChainX governance the way it needs to together.

Common Protocol is a place for us to engage in somewhat more serious discussion about ChainX, or as Guanghua (CEO of ChainX) says:

“Common Protocol allows us to better connect with our community and discuss with them the pressing matters in a formal setting. Together with the direct connection to our governance system, we now have a professional environment to build ChainX. Being able to shape an idea together and elevate it to a referendum without complicated coding makes the process natural and enjoyable for all parties involved.

The forum will be live from Wednesday, September 1st onwards, followed by an official launch with a special AMA on Wednesday 7 September at 20:00 hrs EST in the ChainX telegram community.

About ChainX

ChainX will become the largest Bitcoin Layer 2 Network in the world. The first Substrate blockchain to go live will provide Polkadot with the most valuable digital assets on the market. Committed to realizing trustless and decentralized bridges for Bitcoin and other assets, it forms an inter blockchain asset gateway, pathing the way for a truly interoperable network of blockchains.

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ChainX is the largest Layer-2 network of Bitcoin, based on Substrate, and will evolve into the Polkadot Secondary Relay Chain.