Club EPIC! is the Orbital DAO
It is a private members’ club, where you decide how much membership fee you want to pay.
How does it work?
Club EPIC! is a distributed autonomous organisation (DAO), representing the Orbital blockchain network. It is a private members’ club, where you decide how much membership fee you want to pay.
The more you pay, the more voting power you have to decide the activities of the club, e.g. what specific projects to fund.
The Orbital network is developed using the funds raised through the sale of EPIC tokens to the Club members. Fees charged to users of the network are collected by the Club and distributed to the validators who secure the network and retained by the Club for future development.
Who's joining the Club?
Anyone can join the club, simply by buying EPIC tokens. Once you are a member, you can make proposals and vote on others, helping to steer the direction of the project in a democratic fashion.
Anyone with 50 million EPIC tokens can also be a validator. There are only 1 billion EPIC tokens in existence and this will never change so there can be a theoretical maximum of 20 validators though in practice, there will likely be no more than a dozen.
The limited number of validators ensures high network performance whilst retaining security because the validators have the most to lose if transactions are not properly recorded on the ledger.
Its going to be EPIC!
EPICs are the only staking token of the Orbital DAO. EPICs are a license for the holder to vote, validate, or delegate to validators. so you can share in the fee earning potential of the network.
EPICs are used to pay for transaction fees some of which are retained by the DAO for future development and the rest are shared equally amongst the validators and those who delegate to them.
Users need EPIC tokens to pay the fees for writing transaction information to Orbital networks.
EPIC tokens can be staked in the Orbital DAO to earn an equitable share of the fees distributed to validators.
Anyone who stakes 50 million EPICs can validate transactions on the Orbital network and earn a share of the network fees.
All members can make proposals on ways to spend Club EPIC! funds to increase the utility and appeal of the network.
Every single token has the same voting weight so the more tokens you own, the greater say you have in the activity of the Club.