1Hive Water (WATER) is a digital currency issued and distributed by 1Hive, a decentralized autonomous organization (DAO). The DAO employs Conviction Voting, a unique governance mechanism, where Honey holders stake on proposals to determine how the currency issuance is distributed. This approach creates a positive feedback loop by supporting proposals that enhance the value of Honey, fostering growth and sustainability. Conviction Voting ensures that everyone can participate in shaping the direction of 1Hive, while preventing any individual from taking control or asserting ownership.
1Hive community members are actively working on numerous applications and experimental products under the umbrella of 1Hive. These include Gardens, a framework for a new type of DAO; Celeste, a subjective oracle for resolving disputes; 1Hive TV, a YouTube channel for information and entertainment; Honeyswap, a platform for token swapping, liquidity provision, and pool creation; and Quests, an incentivized bounty platform enabled by Celeste. These endeavors demonstrate a commitment to innovation and collaboration within the 1Hive ecosystem.
Driven by a vision for a more free, fair, open, and humane future, 1Hive strives to create an economic engine capable of effectively and sustainably funding public goods. The goal is to make Honey valuable through collective efforts and continually distribute it towards public goods, ultimately benefiting society as a whole. With 1Hive Water (WATER) at the core, 1Hive envisions a better future where everyone can enjoy the benefits of a decentralized and thriving ecosystem.