HODLpac is seeking to put the benefits of crypto protocols on display, borrowing from the industry in its governance and voting structure to apportion collected funds to candidates. Though it doesn't accept donations in crypto yet, it does follow a token-based voting structure to determine who the PAC will support and how much a candidate might receive.
Its first Community Ballot will occur tomorrow, meaning those who are interested in donating and voting on candidates still can. For more information, Whirty and Smith broke down the structure and purpose of the project on this week's episode on The Scoop.
Whirty and Smith also discussed the opportunities of a blockchain-based PAC and where they see the project going, as well as:
How a crypto-focused hybrid PAC operates and why it's needed in Washington
The PAC's quadratic voting structure and how quadratic voting can lessen the disparity between hyper-wealthy and average donators
The road to more decentralized governance and a grassroots base
An inside look at the way money talks in Washington — and why a PAC or donation-based opportunity may be a faster way to get an issue on the floor
What the different 2020 election outcomes might mean for crypto.
